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Good month brings 29% rise in sales

Ray White chief executive Carey Smith says his group has enjoyed the strongest month in nearly three years.

In October the company’s 135 offices “finalised” 1216 sales, up 29% on October 2011. 

“Across New Zealand all markets continue to show higher sales volumes," he says in a statement.

“The Canterbury area has returned to its pre-earthquake sales numbers and is up 37% on last year." 

Most activity nationwide is in the CBD and city fringe markets, where there is still a lack of stock.

This is placing pressure on prices, which are increasing, while also lowering the number of days on market, Mr Smith says.

The national average sale price value at the end of October 2012 for Ray White was $452,592.

This is up on September 2012 at $445,326 and also up on October 2011, which was $440,918.

More by Chris Hutching for NBR NZ Property Investor