Media release - 31^st August, 2012

Raine & Horne Mudgee awarded Top Rural Office

Mudgee’s rural property market remains a steady ship, with hobby farms a stand-out feature of interest for local buyers, according to award-winning property firm, Raine & Horne Mudgee, who were recognised with a number of gongs at Raine & Horne’s 2011/2012 National Awards held in Melbourne last week.

In a glittering event at the iconic Grand Hyatt, Melbourne, the Raine & Horne Mudgee team, led by principal Michael Kearins, was awarded Top Rural Office (Dollar Value).

“We’ve been the NSW Champions in this category on multiple occasions, but this is the first time Raine & Horne Mudgee has landed the top spot at the National Awards,” says Mr Kearins.

“I’d like to congratulate our Mudgee sales agents and property management team, who worked tirelessly through the 2011/2012 financial year to achieve the best results possible for our clients.”

As for the rural real estate market in Mudgee, Mr Kearins describes it as “resilient”.

“The market has definitely improved in the past couple of years and we are edging closer to the property price highs of 2006.”

Mr Kearins says hobby farms have been the outstanding performer in the 2012 calendar year.

A hobby farm, according to Mr Kearins, is usually defined as a property of 25 acres or less with a nice home situated on it.

“We’ve sold a few hobby farms this year and they have certainly contributed to our success as Raine & Horne’s top rural agency in Australia,” says Mr Kearins.

“Purchasers of this type of property are able to maintain a few sheep or cattle and harvest their own vegetables on the land.”

In addition, Mr Kearins reveals that hobby farms are typically popular with those workers employed by the region’s coal mines and buyers from the metropolitan areas.

“Locals miners are active in purchasing local hobby farms and using the properties to commute to their place of employment at the Ulan, Moolarben and Wilpinjong mines, north of the town,” says Mr Kearins.

Furthermore, Mr Kearins says that some hobby farms have appreciated in value over the last few quarters, which has created a positive flow-on effect, bolstering the values of the broader Mudgee housing market.

According to RP Data, the median sale price for a house in Mudgee is up by 3.4% from this time last year, to $330,000.

“Coming into Spring, we are expecting to see some fantastic properties for sale, which will no doubt entice purchasers seeking a tree-change to consider the fertile Cudgegong River Valley region,” says Mr Kearins.

In addition to the Top Rural Office award, Raine & Horne Mudgee sales agent Scott Fittler placed eighth in the Top Salesperson (Number of Sales) category.

“For Scott to be recognised as a top ten sales agent nationally is a fantastic achievement, both for him and indeed for our entire office,” says Mr Kearins.

For those considering a property sale this Spring, contact Raine & Horne Mudgee on 02 6372 4533.

For further media information contact:

Michael Kearins, Principal Raine & Horne Mudgee on 0428 670 674

Andrew Harrington, National Marketing & Communications Co-ordinator on 02 9258 5400