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Real estate franchise boosts market share


Ray White opened three new offices in May and two more planned next month.

Chris Hutching for NBR NZ Property Investor
Wed, 26 Jun 2013

Ray White Group is claiming a stronger market share, especially in Auckland.

The real estate franchise says industry sales for May 2013 were up 7.5% compared to the same month a year ago.

But Ray White sales rose 19.2% in May 2013 over the previous May, chief executive Carey Smith says.

“We hit a new high in Auckland and, of the 13 areas that are measured, our group has increased market share in 12 areas and that has meant an overall market share lift of 1.1% to 14.8%.”

The lift in sales in Canterbury is attributed to the 12,000 or so red-zoned and written-off homes, as well as immigration and first-home buyers. They are putting pricing pressure on the middle-priced sector and Mr Smith expects that to continue.

Ray White has opened three new offices in May – Forrest Hill and Manly in Auckland and a new office in Cromwell. Two more will open next month at Sandringham and Millwater.

The new owners will attend Ray White’s Business Owners Symposium to be held in September in Queenstown.

Chris Hutching for NBR NZ Property Investor
Wed, 26 Jun 2013
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Real estate franchise boosts market share
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