‘Off-the-plan’ market set to benefit from new Raine & Horne office

Media release - 27th February, 2013

Raine & Horne set to deliver premium service to developers

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

Leading real estate firm Raine & Horne is launching a dedicated project marketing office, Raine & Horne Projects, as a consequence of the buoyant off-the-plan property market.

According to the Housing Industry 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 licensee-in-charge, Luke Smith, and Principals Michael Smith and Nicholas Smith, and is located at 4-8 Gladstone Street, Marrickville. Luke, Michael and Nicholas are also co-principals of Raine & Horne Marrickville and Raine & Horne Commercial South Sydney/Marrickville.

The role of Raine & Horne Projects is twofold and includes sourcing DA-approved sites for developers and then taking them to market on behalf of the developer once the project has approval.

“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 be promoted to more than one million property consumers globally and is a major point of difference with our competition,” said Mr Smith.

Alex Vrisakis, Sales Manager for Raine & Horne Projects, said the launch of the office is perfectly timed to meet the Sydney market’s 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 placed 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 NSW Government’s 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 projects agents at Raine & Horne Projects.”

For all your off-the-plan and new construction sales needs, contact Raine & Horne Projects on 02 9572 8855.

-ENDS-

For further media information contact:

Luke Smith, Licensee-in-charge Raine & Horne Projects on 0416 281 577

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