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Ray White follows the market back into Kapiti

May 23rd, 2010 | By | Category: Front Page Layout, Latest News, News

The Kiwi love affair with property has been illustrated by the successful rebirth of the Ray White Real Estate brand in Kapiti over the past year.

graphRay White’s presence on the coast disappeared around 16 months ago after the previous principle retired.

Riding on the tentative rise in the house prices, new co owners Rachael Steinmetz and Paul Berryman re-established a Paraparaumu office in June last year and were confident enough to open a Waikanae office last month.

Real Estate Institute of New Zealand show August 2008 was the bottom of the recession for Kapiti housing, with the average sale price at $287,000.

In January 2009 the average house sale price was at $315,000, a 9.7 per cent rise, and by the time Mrs Steinmetz and Mr Berryman opened their doors in June last year the average house sale price had climbed a further 9.5 per cent from $315,000 to $345,000.

Since then there has been another 10.7 percent rise to March this year.

Despite the recession Mrs Steinmetz and Mr Berryman decided to buy the business based upon the success of Ray White in Australasia.

She says Ray White is also the leading realtor on Trademe and while real estate competition is stiff at the moment on the Kapiti Coast, they are holding their own.

“We are here for the long haul, we accept that we have to take the good with the bad,” she says.

Waikanae’s real estate agent and salesperson, Carla Thompson says having a strong support system at Ray White is a key to their success. We have a great team coupled with awesome technology.

“It’s very up and down, but in saying that we’ve still sold a house that was over $700,000 so there’s still the buyers out there for the bigger homes.”

“But it has slowed down for people who are just going out and saying yep love that house going to buy it, they’re actually thinking more about it.

“And there is a lot more going for finance but they’re not getting the finance so it’s something to do with the economical recession.”

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is a Whitireia journalism student.
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