Ray White Opens New Office In Arrowtown

18 October 2007

Ray White Opens New Office In Arrowtown

In the latest stage of an explosion of activity in the South Island, the leading real estate group Ray White is opening an office in Arrowtown. The group’s booming mainland business has seen sales in the Wakatipu lakes district increase by 56 percent in the past two years.

Newman Real Estate MREINZ established by Richard Newman 15 years ago, will now be known as Ray White Arrowtown. Richard will stay on as Principal and will retain his full team.

Mr Newman said with a business already well-known in the community, and with majority market share in Arrowtown, the decision to join the group was a straightforward one: “Ray White’s huge referral network will be beneficial, and as part of the group we are no longer constrained by any boundaries, and are able to sell anywhere in the Wakatipu basin.”

He said Ray White was a progressive company, and with more than 140 offices it had valuable marketing tools which had proved successful across the business. “Ray White’s Australasian roots are also very important. We’ve been seeing increased Australian interest in buying property in the area as direct flights to the region have become more frequent, so the time is right for Ray White to open in Arrowtown. Ray White gives our vendors exposure of their property to the Australasian market.”

The Ray White launch also comes at the optimal time for exposure to the numerous visitors who will flock to the region during the New Zealand Golf Open in late November.

Kyle Pitman, Ray White General Manager South Island, says the Arrowtown opening comes during a period of unprecedented growth of the company’s mainland operations.

“There is a lot of talk about the housing market being tight, but the sales are still there to be made, particularly in this part of the country. Richard and his team are the most successful real estate team in Arrowtown, so it’s great for Ray White as a company that they’re joining the group.”

The past year has been a record-breaker for Ray White, with sales surpassing $6 billion for the first time, on 27,000 appointments. The company now has 141 offices and more than 1,500 salespeople.

About Ray White Group

The Ray White Group is a family-owned business which, since its formation in Australia in 1902, has been well regarded for its impeccable level of service, experienced and dedicated staff and commitment to training and support.

With an annual sales turnover of more than $20 billion, the Ray White Group provides a broad range of real estate and related property services.

Ray White NZ has 141 offices trading $6.5 billion annualised property sales.

ENDS

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