Agents report strongest sales since GFC
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7/04/2010 12:00:00 AM
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Two of Australia’s top real estate agents have announced surging sales figures, even as the RBA pushed interest rates up for the fifth time in seven months.
Ray White and McGrath Estate Agents both had their strongest month since the beginning of the GFC, The Australian Financial Review reported today.
McGrath made 572 sales in March 2010, totaling $635m. This was up from 401 sales at $385m in March 2009. “Today’s property market is one of the hottest I’ve seen in many years,” said CEO John McGrath. “The correction is well and truly over and prices have recovered, if not exceeded, their 2007 high.”
Ray White’s total sales jumped to $2.8bn for the year to March, a 16% increase. The group’s joint chairman, Brain White, said demand was being driven “by an increased feeling in the community that buyers may have missed the bottom of the market”.
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