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The top 50 agents in NSW and the ACT recorded strong results in 2023 amid a turbulent market, according to new data.
The Top 50 Agents NSW/ACT ranking and associated report have been released for the fourth consecutive year by Real Estate Business (REB). It is produced jointly with parent company Momentum Media, and powered by research arm Agile Market Intelligence.
The annual state-based ranking rewards agents who have achieved exceptional sales numbers during the 2023 calendar year while building a strong presence in their local area.
It also draws attention to listed agents who have set high professional performance standards in Australia. The ranking sets the benchmark for excellence that other agents can aspire to.
This year’s ranking has illustrated that agents pushed for a high number of sales transactions in a challenging market, particularly in NSW and Sydney, where housing affordability issues continue to be a major concern and dampen buyer demand.
Research by Oxford Economics Australia revealed that property prices surged by 10.3 per cent over 2023 in Sydney, while the median house price is estimated to have exceeded its previous peak in the December quarter of 2023, reaching $1.6 million.
This resulted in the combined number of residential properties sold during 2023 declining from 6,432 in 2022 to 5,447 in 2023 across the top 50 agents. Meanwhile, the top 10 agents sold 1,402 properties in 2023, down from 1,648 the previous year.
The combined value of residential properties sold also reduced year-on-year from $14.3 billion to $12.9 billion in 2023 across the top 50 agents, and from $5.1 billion to $4.8 billion across the top 10 agents.
Similarly, the average number of properties sold contracted from 129 to 109 across the top 50 agents, and from 165 to 140 across the top 10 agents.
The average value also fell from $285.3 million to $258.8 million across the top 50, and from $506.5 million to $475.9 million year-on-year.
Agents in NSW and the ACT are the most experienced compared to those in other states and territories. The top 50 and top 10 agents have been in the industry for an average of 18.74 years and 23 years respectively.
However, years in the industry declined from 19.46 in 2022 for the top 50 agents, according to the figures.
Days on market trended downwards across the top 10 agents from 34 to 27.67 but remained stable at 34 across the top 50 agents.
Phillips Pantzer Donnelley partner, Alexander Phillips, was ranked first this year, a position he has retained in the state-based ranking since inception in 2021. He sold 205 properties for the highest value in 2023 compared to the other listed agents ($973.8 million).
Clarke & Humel Property co-founder and director Michael Clarke also retained second rank for the fourth consecutive year in 2023, while Sydney Sotheby’s International Realty sales associate, Maclay Longhurst, returned to third place after slipping to fourth position last year.
REB editor Grace Ormsby said: “A changing marketplace has not dampened the achievements of agents operating across New South Wales. This year’s ranking is a testament to the resilience of some of Australia’s best agents. It’s a pleasure to once again recognise their hard work, commitment to clients, and success.
“Massive congratulations must go out to every single agent who made this year’s list.”
To view the full REB Top 50 Agents NSW/ACT 2024 ranking and report, click here.
In the coming weeks, REB’s Top 100 Agents and Top 50 Women in Real Estate 2024 rankings will be published, so keep an eye out for those!
