PHOTO: The White Paper
Our Group rounded out the 2018 year with $3.24B in unconditional sales in the month of December across Australasia, which was 15 per cent lower than 2017 but on par with 2016. There’s no doubt 2018 will be remembered as a year of challenges but there was plenty to smile about too.
Some of our offices achieved PBs in December with special mention to South Brisbane, Woodside in Adelaide and Campsie in NSW who almost doubled their previous PB which is terrific.
Our New Zealand network had a strong month with $806M, with our chief Carey Smith noting the low-interest rate environment together with the increasingly stronger economy was giving buyers the confidence to transact.
Our commercial division reported $305M which stems from some big transactions – many of which we are unable to report due to confidentiality clauses. And well done to Commercial (Ferntree Gully) for their latest PB.
So regardless of what you read in the newspapers, the continuation of low interest rates without the suggestion of any dramatic increase, has provided a platform for people to enter or to continue to invest in the property market aggressively. We are all just a little bit fed up with reading about the property market collapsing. The fact is the sky isn’t falling in, far from it! Prices are on par with 2016, which commentators at the time called a bull market. So unless you have 100 per cent market share in your market, then the adjustment is all relative. Our job is to carry energy and create competition in any climate.
READ MORE VIA RAY WHITE