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

 ‘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.