For the 11th year running, Momentum Media and real estate brand REB are pleased to reveal Australia’s top 50 sales offices in real estate who have excelled in their markets.
Grace Ormsby is editor of REB at Momentum Media.
The Top 50 Sales Offices annual rankings set the national benchmark for Australia’s top-performing real estate offices, recognising teams going above and beyond to achieve excellence in sales and carve out a strong presence in competitive markets.
The 2023 rankings are no exception, with the data showing that sales teams and agents across Australia have demonstrated business prowess and resilience while providing stellar customer service to both vendors and buyers.
This occurred during a period when the property market was booming and demand for property had skyrocketed as buyers sought to capitalise on record low interest rates on offer until May 2022 (when the Reserve Bank of Australia began raising the official cash rate from a record low of 0.1 per cent).
After facing significant challenges during the COVID-19 pandemic with aplomb, agents turned their focus to meeting the surge in buyer demand.
Indeed, the average total value of settlements peaked at almost $564 million in the 2021–22 financial year across the top 50 sales offices, an increase of almost 38 per cent compared to the previous year, while the average number of settlements rose from almost 500 to 595 in this year’s rankings.
Agents were buoyed by the booming property market as capital city house prices grew by 22.0 per cent over 2021 in inflation-adjusted terms.
This was mirrored in the Top 50 Sales Offices 2023 data, which revealed that the average sales price across the top 50 sales offices was $1,089,904, up from $819,573 in the previous year.
The Top 50 Sales Offices report, powered by Momentum Media’s research arm Momentum Intelligence, uses three measures to determine the ranking including total settlement values, total settlement numbers, and an efficiency rating (which is the total number of settlements divided by the number of sales-focused staff including sales support).
REB editor Grace Ormsby said that this year’s rankings and report showcases the business prowess of Australia’s real estate profession.
“While in many markets, real estate agents were operating in unprecedented boom-time conditions, we’ve still seen remarkably savvy capabilities in teams across the breadth of the country.
“It’s so important to recognise those agencies operating at such a level. This is the future of real estate in Australia.”