Economic updates

HERE I am in Melbourne - the auction capital of Australia - but I must say it’s times like this that we are grateful for the size and overall geographic spread of our business as we navigate the new landscape.

Hello from Hobart where we are joined by nearly 150 Elite members at our annual Elite conference - celebrating their success and  sharing ideas and learnings to ensure the value they provide clients continues to develop.

AUSTRALASIA’S housing market correction continued through August and our group recorded $3.49 billion in unconditional sales, which was 13 per cent lower than August 2017.

In the middle of winter, the Ray White Group sold $3.3B across Australasia in July 2018.

Our June results continued the trend of recent months, with overall sales of $3.66 billion across Australasia , representing  an underlying decrease of 11% compared to June 2017.

We know buyer sentiment has firmly switched from fear of missing out to a fear of wondering if there’s further price falls.

I’m here on the Parramatta River - the epicentre of Greater Sydney - which has undergone a massive construction investment over the last few years.

Here in Brisbane, the inner city apartment market has attracted so much commentary - all very negative - for some time.

The entire network has just recorded it’s second best February ever with more than $3.3 billion in unconditional sales across Australia and New Zealand.

THE number one agent in Australia’s biggest property group, Gavin Rubinstein, says buyer demand is still outweighing supply in the Eastern Suburbs.

The Ray White Group has just recorded its strongest January result ever with more than $2.52 billion in unconditional sales, which is an exceptional way to kick off 2018.

House prices in Australia have increased by 6556 per cent since the 1960s, an average of over 8 per cent a year, according to BIS data.