Ray White Queensland has recorded stellar sales over the past month, with its market now sitting at almost $79 billion.
With a “golden decade” on the horizon, the Ray White Queensland network has just achieved its best September yet. Ray White Queensland sold a total of $1.46 billion worth of property throughout the month, an increase of 58.6 per cent on the year prior and just shy of a personal best month. The group helped 4,300 buyers and sellers with their property ambitions.
Ray White Queensland CEO Jason Andrew said the sunshine state’s market has continued to increase in momentum over the past year.
“Only a year ago, our market was sitting at roughly $51 billion and in just 12 months that same market has risen to almost $79 billion. This and the fact that our network is currently so well positioned is outstanding,” Mr Andrew said.
“Ray White Queensland is now calling one in three auctions across the state and in the midst of rolling lockdowns we have still been able to showcase our clients’ most important asset – their property – to the best of the industry’s capability, whether that be in person or digitally.
“In many cases, our members have chosen not to take the easy route and sell quickly but are instead working hard to create competition to ensure the best result for all parties. This has resulted in an 11.47 per cent difference between the highest offer prior to auction and the sale price under the hammer – something we are immensely proud of.
“All eyes, nationally and globally, are on our market and net migration numbers continue to show our migration from interstate has grown despite our current border closures.”
Ray White Chief Economist Nerida Conisbee said Brisbane was entering a “golden decade” of property prosperity and the recent announcement of the 2032 Olympics will be a huge drawcard.
“Queensland is currently seeing the strongest population growth in Australia, with particularly high movement of people out of southern states to south-east Queensland,” Ms Conisbee said.
“This strong growth is expected to continue which will have widespread impacts across all price points.”
Auctions have played a central role in the Queensland network’s success. In September, scheduled auctions were up more than 110 per cent on last year while the 81 per cent clearance rate also rose 30 per cent comparatively. Ray White Queensland’s September auctions attracted an average of 7.2 registered bidders while 4.2 actively participated – both figures have risen year-on-year.
Ray White Queensland Chief Auctioneer Gavin Croft said the network’s auction clearance rate hit a record high in the first two weeks of September coming in at 95 per cent, followed by the last week’s 87 per cent.
“This growth has come off the back of an increase in registered bidders that we began to see in July and August,” Mr Croft said.
“The jump in bidder numbers has been fueled by interstate interest and local buyers’ appetite to upgrade their lifestyle
“There is no question that we anticipate demand to outweigh supply till the end of the year in a positive sign for prospective sellers.”
Mr Croft credits the network’s auction success to key Ray White Queensland offices driving some big in-room auction events.
“Buyers clearly have an appetite for in-room events which is clear by the impressive bidder numbers and clearance rates we’re seeing at these events,” he said.
The Coastal Living Network which is made up of Ray White businesses from Maroochydore, Buderim, Mooloolaba, Kawana, Sippy Downs, Nambour and Noosa River held an auction event in mid-September in which 63 properties sold under the hammer from the massive 70 on offer.
Meanwhile, Ray White Tugun hosted an auction event in the second last week of September in which all 10 of the offered properties were sold under auction conditions.
Ray White Mount Gravatt, Ray White Sunnybank Hills, Ray White New Farm and Ray White Surfers Paradise all held their own in-room auction events throughout the month and recorded some impressive sales and almost unprecedented bidder numbers.
An in-room event held in the second last week of September for Ray White Ascot produced the top auction sale of the month. Ascot agent Damon Warat sold property developer Anthony Bakarat’s 1 Dickson Tce, Hamilton(pictured above) home under the hammer for $7.5 million on the night.
As the achievements continue to grow, so too does the strength of the network. Over the course of this financial year, Mr Andrew has welcomed new businesses and leaders to the group right across the state including Ray White Holland Park principal Piers Crawford’s expansion to Camp Hill, top performance coach Adam Downes’ move to principal of Ray White Ashgrove. In the coming weeks ambitious real estate professional Angela Steven will also open Ray White Stones Corner.
Up north, real estate expert Mark Flinn took ownership of Ray White Port Douglas while experienced Ray White business owner Peter Catanzariti added a third office at Pimpama. In the picturesque inland Sunshine Coast area business pro Allister Millican opened Ray White Maleny.
Source: Ray White Group