Media release - 7^th March 2014

Leading real estate group Raine & Horne has bolstered its executive team in Western Australia, with the appointment of experienced property specialist Mark Grisdale as its new state manager.

A veteran of almost 20 years in Western Australian real estate, Mr Grisdale, a licensed agent, has worked with Australia’s biggest property brands and a number of high-profile independent offices in Perth and regional WA.

Mark Grisdale “Mark has enjoyed a very successful career negotiating residential, commercial, rural and business sales throughout Margaret River, Busselton, Broome and the northern coastal suburbs of Perth,” said Angus Raine, Executive Chairman and CEO of Raine & Horne.

“The state manager is a new position that recognises the Western Australian real estate market’s return to form and Raine & Horne’s growth prospects across the wide expanses of the state.

“Mark is a former licensee of a number of real estate offices and knows what it takes to help our existing offices win more market share, appraisals, listings, sales and property managements.

“He brings strong analytical skills to the network and he will be heavily involved in delivering Raine & Horne’s market-leading training programs to our existing offices and those who choose to link with us in 2014 and beyond.”

Mr Raine says it’s critical that Raine & Horne is led in Western Australia by a Western Australian who comes with an intimate knowledge of the state’s regional vagaries.

“Take Busselton for example – it’s a coastal town but uniquely for Western Australia, it faces directly north, which makes a big difference to the sea conditions,” says Mr Grisdale.

“The ocean is generally flatter, which attracts the yachting brigade to the town, where the nearby Margaret River is more a favourite for wine and food tourists.”

Likewise Broome, in the state’s far north west, is a tourism hotspot between April and September according to Mr Grisdale, due to its challenging heat and humidity at Christmas time.

“Virgin and Qantas drop off many Australian and international tourists every day and as a consequence, around 80 percent of local homes in Broome are owned by investors,” said Mr Grisdale.

In Perth, the market is strong through most price points, according to Mr Grisdale, with first home buyers active in inexpensive ‘buy and build’ markets under $500,000 such as Jindalee, a coastal suburb to the city’s north, and Singleton, an outer southern suburb.

“The off the plan market is strong in WA and it’s fair to attribute this to lower interest rates and the changes to the First Home Owner Grant (FHOG) in late September 2013, which increased the grant for first home buyers purchasing or building a new home from $7,000 to $10,000,” he said.

“It’s just $3,000 for those purchasing an established home.”

For those eligible for the FHOG, there are stamp duty concessions for properties valued up to $600,000 and up to $400,000 for vacant blocks of land, and Mr Grisdale said every bit is helping to attract first home buyers into the market.

Mid-price markets in Perth between $600,000 and $800,000 are also busy, with upgraders dominating these markets.

“It’s possible to secure a quality three bedroom townhouse in northern suburbs such as Doubleview for between $600,000 and $800,000,” said Mr Grisdale.

“Interest rates are also getting the middle markets going, while improved confidence and the change of Federal government flushed out upgraders in Perth, who are driving demand for homes in the middle price ranges.”

–ENDS–

For further media information contact:

Angus Raine, Executive Chairman and CEO, Raine & Horne on 0409 920 697

Andrew Harrington, National Marketing & Communications Coordinator on 02 9258 5400

Raine & Horne appoints new state manager in WA