In this market we are experiencing a lot of challenges but despite this, we are still experiencing a lot of growth in our business.
As you may well be aware, the RBA left interest rates on hold for now, which is excellent, however some market experts are predicting that they may increase by the end of the year. Our finance representatives have informed us that lending finance has improved over the month and that refinancing figures are down.
In residential sales we are experiencing a steady level of enquiry, with increased numbers of people through the open homes due to a concerted effort on electronic marketing and media. The sales figures for the last quarter were significant with just under $80 million sold by The Runaway Bay Group.
Our commercial division has been going from strength to strength with the Month of May recording an outstanding result of 3rd Internationally within the entire Ray White Group (over seventy offices internationally). We have been achieving year to date sales figures of 75% for auction clearances which is well above the market and competitors averages. Our Commercial Division has just appointed two new very established and well known agents in leasing and sales, which further strengthens our existing team of professionals. Commercial leasing has been continuing to show high levels of occupancy especially in the industrial sector. This is a very good sign for the commercial market as when leasing flourishes, sales seem to follow suit.
Property Management has picked up as of May, our property management team are renting approximately 25 properties a month, and are on track to rent even more properties for the month of June, rents are thriving and enquiry levels are up. If you are looking to move, you will not find happier, more helpful staff than the property management team at The Runaway Bay Group.
If you are a buyer or a seller and wishing to talk confidentially regarding your residential or commercial property needs, to one of our experienced staff, please do not hesitate to call or visit any one of our four conveniently located offices.
We are looking forward to a very exciting launch of our new brand “Ray White Premium Properties” which will exclusively be involved in marketing and selling properties of over $2 million in value. The brand will be back by very experienced agents with extensive databases and knowledge of high end properties. Very exclusive marketing material covering national and international markets will be available under this banner.
– Ali Mian