Australasia's largest real estate and property group, Ray White, has reported a 20 per cent improvement in its residential and commercial sales results in Australia and New Zealand for February, 2010.

Ray White Chairman Brian White said preliminary figures showed the group in February achieved total sales of $2.310 billion, compared to $1.934 billion in the corresponding month in 2009.

"After a slow start to the year we have had a very strong month in February," Mr White said.

"The market appears to be absorbing the interest rate rises we have had although we are not quite experiencing the sort of gains that we were achieving towards the end of 2009."

Ray White's top performing market in February was Victoria, which reported a staggering 58 per cent increase on the corresponding period in 2009.

"Melbourne is consolidating its new reputation as Australia's most vibrant market," Mr White said. "How many years ago since that claim was also valid?

"New South Wales was not left behind and continued to perform strongly with a 41 per cent improvement, whilst the other Australian states each grew by less than 10 per cent."

Mr White said New Zealand was consistent with last year with a four per cent increase.

"Interesting to note that signs of confidence are returning even though New Zealand did not enjoy anything like the stimulus package implemented in Australia," he said.

Mr White said Ray White Commercial has had a strong start to the year with its February sales up 58 per cent.

"Overall, it bodes well for 2010," Mr White said. "February is the first month since each November where the results reflect 'normal' conditions. No holidays. No distractions, just a continuing business environment."