Ray White recorded $4.2 billion in sales in November 2016 – in what is a new record for the Group.
Group chairman, Brian White said the result – in a market largely thought to be easing – gives concrete evidence of the strength of buyers in the market, supported by the continuing low interest rate environment.
“Whilst Sydney remains remarkably strong, Ray White’s result came from excellent activity throughout all of the eastern states and a surprisingly good result in South Australia. Only Western Australia continued to experience tough market conditions,” Mr White said.
Seeing particularly good momentum is Victoria, which achieved record numbers for the Group for two consecutive months. In November the Victorian network recorded $667 million in sales, up from its previous record of $651 million set the month prior.
The Queensland network was $1 million shy of its best month since the GFC, achieving $852 million in sales. Results in New South Wales were also very strong at $1.35 billion – just short of the state record set in October 2015.
“These results bode well for the opening into 2017. November is the perfect harbinger for what will happen in the early months of the new year culminating in what should prove to be a fantastic March,” Mr White said.
The company’s previous record of $4.1 billion was achieved in May 2015.