Home sales down 16 per cent

Ray White Real Estate Group reported $2.3 billion in sales last month – 16 per cent down on the sales volumes achieved this time last year.

But despite the disappointing result, Ray White chairman Brian White said “When allowing for the downward adjustment in value levels in many of our markets, it revealed healthy continuing transaction volumes,” he said.

"This supports our predictions that buyers were becoming more active with a continuing confidence in the underlying strength of both Australian and New Zealand economies. Stock levels are good with many vendors having confidence that they can buy and sell in similar market conditions."

Source: The Advisor