‘Off-the-plan’ market back on, says new Raine & Horne office

Project (new) house price index rose by 1.4% in Sydney in the December 2012 quarter
Raine & Horne Projects to provide unique services to property developers across Sydney
Councils and NSW Planning & Infrastructure starting to adjust Local Environment Plans (LEPs) to encourage new developments
Many indicators points to the popularity of new homes growing over the next five years

Leading real estate firm, Raine & Horne is launching a dedicated project office, Raine & Horne Projects, as a consequence of the anticipated rebound in the popularity of off-the- plan property on 27 February, 2013.

According to the Housing Association of Australia (HIA), the project (new) house price index rose by 1.4% in Sydney in the December 2012 quarter, while new home sales jumped by 3.3% over the same period.

Raine & Horne Projects will be led by licensees-in-charge, Luke and Michael Smith, and is located at 4-8 Gladstone Street, Marrickville. Luke and Michael are also co-principals of Raine & Horne Marrickville and Raine & Horne Commercial South Sydney/Marrickville.

Raine & Horne Marrickville was recently named by Real Estate Business magazine as one Australia’s 50 best real estate offices.

The role of Raine & Horne Projects is twofold. In the first instance, it can source DA approved sites for developers. Its team of specialist project marketing agents can then take a project to market once a development approval has been secured.

“Raine & Horne Projects is committed to achieving the best possible outcomes for developers through premier service and a professional attitude,” said Luke Smith.

“We will work closely with developers and development sites from inner to middle ring suburbs, while Raine & Horne’s unique Global Database, enables a project to promoted to more than one million consumers globally and is a major point of difference with our competition,” said Mr Smith.

Alex Vrisakis, Sales Manager of Raine & Horne Projects, said the launch of Raine & Horne Projects is perfectly timed to meet the Sydney market’s renewed demand for new and off-the-plan properties.

“Population increases and a recent bounce in property prices have led to a call for new developments to be built in the NSW capital,’ said Mr Vrisakis.

“In response, some local councils and NSW Planning & Infrastructure have started to adjust their Local Environment Plans (LEPs) to encourage new developments giving many developers the right incentives to submit applications.

“We are anticipating the off-the-plan housing market to increase in popularity over the next five years as more developments gain council approval and Raine & Horne Projects will be perfectly place to help developers meet their targets,” said Mr Vrisakis.

Generally speaking, off-the-plan properties appeal to a variety of buyers including investors, owner occupiers, syndicates and self-managed super funds, according to Mr Smith.

“The type of buyers will often vary, depending on the features of a particular project and we aim to achieve results for all our clients,” said Mr Smith.

Securing a newly-built or off-the-plan property also delivers a number of core benefits to consumers.

“Apart from the unique experience of owning a new home, first home buyers are eligible to receive $15,000 from the First Home Owners Grant (New Home); while new properties purchased up to $650,000 are entitled to stamp duty concessions under the First Home – New Home Scheme.

“Investors can also receive tax assistance through depreciation, which delivers its highest benefits on a new property,” said Mr Smith.

Moreover, Mr Smith said the beauty of buying an off-the-plan property in a rising market is that you are buying a property at today’s market value.

In welcoming the opening of the new office, Angus Raine, CEO, Raine & Horne, said development firms will be well served by Luke and Michael Smith and the team of experienced project marketing agents.”

For all your off-the-plan and new construction sales needs, contact Raine & Horne Projects on 02 9554 7755.