Media release - 27^th 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

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