Raine & Horne celebrates almost four decades in south western Sydney with the opening of a new office
Media release - 30th July, 2014
Real estate group Raine & Horne has opened yet another office in south western Sydney, almost 40 years after opening its first in the region.
The 131 year-old family owned and operated firm opened its first franchised office, Raine & Horne Liverpool, in 1976 and has now launched Raine & Horne Fairfield, located at 2/36 Smart Street, Fairfield, led by Tarek Madani and Alan Yin.
“I’m proud of the fact that my firm recognised the massive potential in south western Sydney many decades ago and has maintained and grown our presence ever since,” said Angus Raine, Chairman/CEO of Raine & Horne.
“It’s a region where the population is generally younger than the Sydney average and it’s for this reason that I’m so pleased to be working with Tarek and Alan, who while young in years, have about 30 years of combined real estate sales and property management experience between them.
“It is also a dynamic region, characterised by a strong economy and a diverse community, and as such Raine & Horne Fairfield will provide English, Arabic, Chinese, Vietnamese, Cambodian, Spanish, and Turkish language services.”
Mr Madani, who started his real estate career in 1999, and has operated in the south western Sydney market ever since, said his decision to launch Raine & Horne Fairfield was simple.
“I worked for Raine & Horne between 2006 until recently, and I decided the time had arrived to go out on my own,” said Mr Madani.
“Fortunately for me, Alan came to the same realisation and we’ve decided to team up to return Raine & Horne to Fairfield.”
Likewise the decision to join the famous charcoal and gold of Raine & Horne was driven by Mr Madani’s conviction that homeowners in Fairfield deserve a more sophisticated way of doing business.
“There’s always a place for tried and tested marketing measures, but we live in a digital age and our owners, buyers and investors have become far more technology and marketing savvy.
“I’m impressed with the Raine & Horne brand, while its level of support, professionalism, products and technology will be sure to impress homeowners in Fairfield and help them sell their properties more efficiently.”
Mr Madani cited the example of the Raine & Horne Global Database.
“The Raine & Horne Global Database, which can put a Fairfield home in front of 1.3 million buyers in Australia and overseas, is a major plus for local homeowners looking for a timely sale.”
Like many property markets around Sydney, Fairfield has enjoyed a good run since winter 2012 and Mr Madani expects more steady returns over the next year or so.
“No matter what the state of the market, there will always be property transactions as a result of changes in a family’s financial and employment status, while growing families can prove a trigger for an upgrade,” said Mr Madani.
“While we don’t expect an interest rate rise anytime soon, it appears the next move will be up, and this will also prompt some people to re-evaluate their financial circumstances.”
Investors, according to Mr Madani, are dominating the market in hot pursuit of very attractive yields.
“Investors are coming from all over Sydney and are chasing anything under $500,000, and while some new stock is selling for between $400,000 and $450,000, investors are mostly interested in established two bedroom apartments,” he said.
“The average established two bedroom home unit in Fairfield is valued between $280,000 and $300,000 and will generate returns between $350 and $380 a week.
“This represents gross yields of 6.5%, which is significantly better than cash returns, so it’s little wonder older apartment stock sells very fast.”
For all your residential sales and property management needs in Fairfield, please contact Raine & Horne Fairfield on 02 9726 3999.
For further media information contact:
Tarek Madani, Co-Principal, Raine & Horne Fairfield on 0400 775 861
Andrew Harrington, National Marketing & Communications Coordinator on 02 9258 5400