March Madness

March Market Update

February saw the record breaking team at Ray White Cranbourne continue to smash personal bests in terms of both sales and leasing, while many of our competitors were seen to falter far from the finish line.

Building on strong January figures, the sales force secured a record 42 listings in February. Importantly, this record stock level is a reflection on the marketing power of our team and not market conditions. It is obvious through advertising analysis that many of our competitors are failing to secure comparable listings. This is a significant observation, as it confirms that we are not facing a glut in the market. Too much available stock can create downward pressure on demand and pleasingly, this is not the case here.

Strong February sales figures confirmed a great start to 2012 and continued the team’s success rate of selling on average, more than one property per day. The team achieved the number three spot in the sales rankings (as measured by Ray White corporate head office), against all other agents in Victoria and Tasmania, with close to $10 million in sales for the month.

Fierce competition between developers continued throughout February, but buyers did demonstrate that they were still prepared to buy land and build when the price was competitive. A promising number of land sales contributed to these outstanding February results.

Melbourne’s outer South East experienced a bizarre range of weather extremes during February, from days surpassing 40 degrees to others with record breaking rainfall. Despite these extremes, open home numbers remained strong with a great mix of investors, first home buyers and more seasoned buyers in the marketplace.

Traditionally, February is not a strong month for property leasing but the team also managed to buck that trend. Thanks to the dedication and tenacity of our Leasing Department, we currently have our strongest rental list ever with a terrific cross section of properties ranging from centralised units, through to homes including a good selection of brand new properties.
The team experienced unprecedented success at the annual Ray White Awards (details online), creating a real buzz and renewed sense of purpose around the office.

This increased activity has created new career opportunities for two outstanding candidates. We are currently recruiting an experienced sales person and a senior property manager. If you think you have what it takes to work with the best and most progressive in the market, please contact me directly.

Until next month

Cheers
Mark Guthrie
CEO Ray White Cranbourne
0404 001 347