Ray White Western Australia Property Sales Up 40 Per Cent

Ray White Western Australia Sales Up 40 Per Cent

Australasia’s largest real estate group, Ray White, recorded a 40 per cent improvement on its residential sales performance in Western Australia last month compared to the corresponding period in 2008.

Ray White WA CEO Mark Whiteman said the group’s state-wide sales for August, 2009, totalled $150 million, compared to $109 million in August, 2008.

Mr Whiteman said the August result capped off a strong winter residential sales performance with the group achieving sales of almost $450 million in WA during June, July and August 2009.

“Our sales over winter have improved significantly compared to the same three months last year,” Mr Whiteman said.

“The results over the last four months in particular have been very pleasing with sales averaging almost $150 million each month, which shows that the market has well and truly recovered from any downturn in activity.

“We’re expecting great things from the spring, which is traditionally the busiest time of the year and a time when there should be a lot more stock on the market.”

Mr Whiteman said there was increased activity in the middle section of the market in properties priced between $600,000 and $1 million.

“There’s a shortage of lower end priced properties as a result of demand from first time buyers capitalising on the boosted First Home Owners Grant,” he said. “With the expanded grant scheme starting to phase out from the end of September we expect more real estate investors to come to the fore.”

To view listings of property for sale in Western Australia, contact Ray White.