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REB is pleased to unveil the Top 50 Sales Offices 2024 ranking, which honours those that have achieved great success in their real estate markets in FY2023.
For the 12th consecutive year, the Top 50 Sales Offices ranking has recognised the accomplishments of Australia’s top-performing real estate offices that have gone above and beyond for their clients during a challenging economic environment and built a strong presence in their local markets.
The 2024 ranking has illustrated the hard work and resilience of real estate teams in offices across Australia during a difficult period of economic challenges.
They have had to manage the expectations of nervous vendors and buyers as they faced rising interest rates, mounting cost of living pressures and mortgage stress, along with fluctuating advertised stock.
This has had an impact on average settlement numbers, which fell from 595 in the previous year to 492.54 in 2024 across the top 50 offices, and from 1,047 to 1,041.35 across the top 10 offices.
Likewise, total average settlement values declined year on year from $563.8 million to $478.1 million across the top 50 offices, and from $851.3 million to $768.3 million across the top 10 offices.
The average sale price across the top 50 offices also fell marginally from $1.09 million in 2023 to $1.08 million this year, despite CoreLogic’s data showing that its national Home Value Index rose 8.1 per cent in 2023 (a significant turnaround from the 4.9 per cent decline seen in 2022).
Reflecting tougher property market conditions is the days on market, which increased from 33 to 37.2 days in 2024 across the top 50 sales offices.
However, the top 10 offices bucked this trend, with days on market dipping from 39 days in 2023 to 37.1 days in 2024.
Reflecting on this year’s results, REB editor Grace Orsmby said the rankings have showcased the hard work and business prowess of sales offices across Australia, especially as they navigate tougher economic conditions and guide clients who are facing mortgage stress and cost-of-living pressures.
“It is so pleasing to see real estate teams rise above any challenges thrown at them and thrive in their businesses,” she said.
“It is during challenging times that the experience, fortitude and capabilities of agents really come to the fore. The offices in this year’s ranking have demonstrated leadership, savvy business acumen and dedication to providing exceptional customer service.
“My sincere congratulations to all 50 sales offices in this year’s rankings that are ensuring the real estate industry will thrive in the future. Your achievements deserve to be celebrated.”
The REB Top 50 Sales Offices ranking is compiled by Agile Market Intelligence, the research arm of Momentum Media (which is the parent company of REB).
Sales offices were asked to supply a CRM verification document that clearly outlined the following information for the 2022–23 financial year:
- Total number of listings
- Total number of settled sales
- Total value of settlements
- Average days on market
- Number of staff as at the end of FY23
All data was verified by Agile Market Intelligence to ensure accuracy.
Click here to download the REB Top 50 Sales Offices 2024 report.
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