16 September, 2010

Raine & Horne Bathurst shines at national awards on back of strong local economy

Local business Raine & Horne Bathurst collected four prestigious awards at the annual Raine & Horne National Conference, held at the exclusive Sanctuary Cove on the Queensland Gold Coast.

The team at Raine & Horne Bathurst placed second in the Top Country Office category for dollar value and was equal third place in the highly competitive Top Office Number of Sales category. It also grabbed 10th place in the Top Office Dollar Value category, while Michelle Mackay won an award for Outstanding Corporate Support.

Given that Raine & Horne operates 375 offices across Australia, Raine & Horne Bathurst’s performance across these categories is exemplary. Proprietor Matt Clifton attributes the result to the strength of the local real estate market, which is underpinned by solid economic fundamentals.

According to Bathurst Regional Council, Bathurst and the surrounding region is enjoying economic growth of 2.19%, the highest in NSW, while unemployment is at a manageable 5.01%.

Interestingly, since the start of the year, Bathurst Regional Council has received approaches from 22 different companies looking to establish a presence (six or more employees) in Bathurst.

“Jobs are spread across three main sectors - education, retail, health and manufacturing - which helps the region manage when times get tough,” Mr Clifton said.

“The major manufacturers are biomedical firm Devro, Mars Petcare, food and agribusiness Simplot, Country Energy, while Charles Sturt University dominates the education sector.

“As a result of economic diversity and employment strength, demand for Bathurst homes has been steady over the past 12 months,” he said.

“We also have a strong and active council that works hard to promote Bathurst and the region.”

While property prices are steady, rental vacancy rates are at historic lows – under 2%.

“Low vacancy rates are attracting investors looking for secure rental returns, however we're not being swamped by potential new landlords,” said Mr Clifton.

While Bathurst has a shortage of investment homes for sale, the regional city represents good value for money – with three bedroom homes with single garages available from the late $200,000s.

“The shortage of investment homes is pushing up yields to 5% gross, while ongoing, long term average growth for Bathurst homes is around 10%.

Raine & Horne CEO Angus Raine congratulated Raine & Horne Bathurst on its outstanding achievement and applauded its continued dedication to excellence within the community.

“These awards recognise the outstanding contribution to the real estate industry made by Raine & Horne Bathurst over the last year and show the team is willing to go that extra mile to maximise outcomes for buyers and sellers across all property classes,” Mr Raine said.

Raine & Horne is an iconic Australian property firm, with more than 400 offices worldwide. Also an established Superbrand along with the likes of Qantas, Vegemite, Woolworths and Myer, the company has four distinct property service brands including Raine & Horne Residential, Raine & Horne Commercial, Raine & Horne Financial Services and Raine & Horne Rural.

For further media information contact:

Angus Raine, CEO Raine & Horne on 02 9258 5422 or 0409 920 697

Anna Truman, Marketing & Communications Co-ordinator on 02 9258 5448