Local Market Update

February might be a short month in terms of days in the month but activity for the team at Ray White Cranbourne was action packed and extremely fruitful. The year has started with a bang and we see no letting up of this for the immediate future. Interest rates dropped during the month and this further encouraged buyers to spend and spend big. We are seeing a good number of first home buyers but the month was really about second and third home buyers stepping up to the next house, this was reflected in an average sales price well in excess of $400,000.

The team listed strongly for the month with in excess of a listing per day but this still wasn’t enough to maintain the high demand from buyers. Our days on market for stock sold was an incredibly low 19 days. This is the lowest we have seen in over 5 years and is a true reflection of the high demand for quality stock in the marketplace at the moment. This was also reflected in the number of multi offer situations we encountered for the month too, open home numbers were of course very strong too. The stand outs for the month of February in the sales department were Chaminda and Paul Ringeri for strong listing numbers and Peter Khamis had an absolute standout in the sale area.
Denis, Chaminda and Thomas also had very consistent sales months too. Chaminda was the eventual winner of our listing reward for the month.

The rental department have continued their strong start to the year with another month of lettings exceeding days in the month. As per last month open home numbers were high, application numbers were very strong with another PB set as we accepted close to 300 applications for the month. Once again the benefits of having a full time leasing officer in place in the company were evident with quick turnaround times for applicants and fast approval times for landlords to ensure days on market remain low and landlord investments remain cash flow positive. Even though we have so many applications we are still stringent in our methods in ensuring only the best applicants are being accepted. It might seem easier sometimes to fill a vacant property with an ok applicant but in the long run quality control at the start with the right tenant will ensure a smoother and more harmonious tenancy long term. Bree and Abbey were the winners of our arrears focused reward this month and Kim and Conchita won the Property Management award for the month. Well done ladies.

Overall the market is very strong at the moment and the team at Ray White Cranbourne are on the lookout for people who want to join our highly skilled and progressive company as we continue our growth in 2015. If you think you have what it takes to be the best in the business and want to either look at a change in careers or simply want a change from your current workplace then contact us for a confidential chat.

Until next month