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As we predicted, summer came to an end with Easter and we had to settle for a Group result for April of $2.75b - down on our massive March but still nicely ahead of April 2013.
One thing that did happen in April was a surge in our listing activity with the Group listing well ahead of our recent monthly totals. Could this be a sign that our communities are sensing the residential markets might be peaking and thus it makes sense to realise on non-critical assets? Better to secure a sale prior to market change rather than risk mistiming it?!
Such an interesting stage our markets are in. New Zealand has had two interest rate increases. But the question is, seemingly, dormant in Australia. The monthly Australian Reserve Bank meeting was a non-event. No one is anticipating any increase in the foreseeable future. Hence our confidence that we’ll continue to have a strong 2014 following the lead set by our Kiwi cousins!
Always a joy when remarkable properties come on to the market - this month our listing of “Heaven’s Gate” in Hideaway Bay, Whitsundays. What is its best feature? 75 acres of island views? 400 metres of beach frontage? A helipad? And dozens of other features. Mark Beale at Ray White Whitsunday is marketing this masterpiece.
A magnificent Spanish-influenced home in Glen Iris is being marketed through Carmen Stenta at Ray White Manningham. One of the Sunshine Coast’s finest properties in an absolute beachfront position at 2 Pitta Street, Peregian Beach is on the market through Robbie Neller at Ray White Peregian.
Our commercial auction event saw strong bidding with sub six per cent property yields being achieved for well located investment property in Queensland and NSW. Our next auction event is being held in June with early indications it will build on our success in April.
The high-profile sale of the Norths Rugby Club in St Leonard’s for $9.5m was completed by Andrew Jolliffe and Jeff Moxham just one week following the close of the expression of interest campaign. Strong competition from developers, hotel owners and education providers delivered an excellent result for one of Sydney’s longest standing sporting clubs.
The feature of the Loan Market results for April was the impact that members of the Ray White team contributed to its results with a 32 per cent increase over the same time last year. More proof of the value of the relationship and the value this brings to Ray White members.
Last month we profiled some great new members to our Sydney commercial team. In April, Emma Montgomery joined White & Partners as director to expand the corporate real estate advisory service in Sydney. Emma has an impressive track record with large pre-commitment lease transactions for a variety of top tiercorporate clients.
A new initiative came to fruition with the rebranding of a number of previous Ray White property management businesses to Living Here. Why? It’s designed to be a career choice - enabling business owners, who have created substantial rent rolls, to have the option to stay within the broad Group once a burning desire to create a cutting edge sales business has declined.
The Double Bay rebranding has been a success. Now, we have new Living Here businesses emerging in Kogarah (NSW) and Launceston (Tas).
There were a number of new Ray White offices throughout our network. The White Paper will make a feature of these new openings next month.
