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Auction shift spells success for Wyong Shire home owners

12 September, 2011

Auction shift spells success for Wyong Shire home owners

More Wyong Shire homes are expected to sell at auction this spring than ever before, according to leading Central Coast property firm, Raine & Horne Charmhaven.

Raine & Horne Charmhaven director Andrew Sorensen said that about 80% of properties listed by his firm were going to auction this spring.

“This 15% increase from last year and the shift to auctions is set to pay dividends in terms of reducing the number of days Charmhaven homes are on the market,” Mr Sorensen said.

“We are finding that with the uncertainty in the economy, the addition of a sales deadline under the auction process is encouraging Central Coast homebuyers to get off the fence,” said Mr Sorensen, who was recently recognised as one of Raine & Horne’s leading salespeople at the prestigious Raine & Horne National Awards.

Mr Sorensen scored a top ten finish in the ‘Top Salesperson – Number of Sales’ category at the awards ceremony on the Queensland Sunshine Coast, and said his award was an indication of the increased sales volumes achieved by Raine & Horne Charmhaven in 2011.

“The growing appeal of auctions is certainly bumping up the number of sales, with many homes selling just before, during or after auction.

“Currently, the average time our listings are on the market is just 24 days, and we have a 90% clearance rate within 45 days.”

Furthermore, with the Wyong Shire continuing to be a popular area for entry-level homebuyers, Mr Sorensen expected this trend to last for some time.

“We expect to be in the top three Raine & Horne offices for sales nationally next year, which is a big effort when you consider Raine & Horne has hundreds of offices around Australia.”

However, Mr Sorensen said the NSW State Government’s decision to end first home buyer stamp duty concessions for existing homes on December 31 could present some challenges for the Charmhaven market.

“Between 30% and 40% of our market is made up of first home buyers buying into existing homes, and therefore the government’s decision is short-sighted because it will place an even bigger burden on aspiring owners to find potentially tens of thousands of dollars in additional stamp duty.”

Despite this new challenge, Raine & Horne Charmhaven is well-placed to continue helping Central Coast homebuyers into bricks and mortar.

“We have a great team at Raine & Horne Charmhaven, and we will continue to help people find the right home, and building our reputation as the leading real estate brand in the Wyong Shire market.”

For all your property needs contact Raine & Horne Charmhaven on (02) 4393 1990.

Raine & Horne is an iconic Australian property firm, with more than 360 offices worldwide. Also an established Superbrand along with Qantas, Vegemite, Woolworths and Myer, the company has four distinct property service brands including Raine & Horne Residential, Raine & Horne Commercial, Raine & Horne Rural and Raine & Horne Financial.


For further media information contact:          

Andrew Sorensen, Principal Raine & Horne Charmhaven, 02 4393 1990 or 0410 563 146

Anna Truman, National Marketing & Communications Co-ordinator, 02 9258 5448