In a month where there were a number of conflicting assessments of the Australian property market by different commentators, the Ray White Group was able to match its career best total of $3.2 billion in May.
“Traditionally records are set in November or March with May being seen as the beginning of the reduced activity over the curl of winter months.
“This is the first time that this number – a record equalling result – has been achieved in a month of May,” Brian White, chairman of the Ray White Group said.
The Group result reflects continuing strength in the Australian markets – particularly in Sydney and Melbourne.
“It’s the third time in recent months that NSW achieved a result of over $1 billion in itself.
“The observation made in April, where listings were at an unusually high level, prompted comment that vendors were increasingly of the opinion that placing their properties on the market now made sense. This has carried over to May with another strong listing month,” Mr White said.
The Group also saw strong results from their commercial teams with around $335m achieved across all commercial markets.
“A feature of the company’s results was the strong activity in the commercial sector achieving a higher level of sales across the company’s specialised businesses,” Mr White said.
Mr White anticipates performance throughout the winter months to be better than many are suggesting.
“The prognosis for the winter real estate market continues to look more promising than many observers are predicting.”