Media release - 7^th November, 2013

Office doubles previous best October sales record following record September

Leading Top End real estate firm, Raine & Horne Darwin, has recorded its strongest ever October for sales, doubling the previous record.

“Our best ever October result followed our strongest September, and we’re attributing the results primarily to a spike in consumer confidence following the conclusive outcome of September Federal Election and ongoing interest rate stability,” says Glenn Grantham, General Manager, Raine & Horne Darwin.

Jepun apartment “It also helped that we had good stock levels and were able to attract a healthy number of buyers and investors to the launch of the Jepun development on Smith Street Mall.”

Raine & Horne Darwin sold 25 of the two bedroom apartments in Jepun in a single day, with an average apartment price of $588,000.

“People have also recognised the value in the northern and inner suburbs of Darwin and have capitalised on it,” says Mr Grantham.

To illustrate, Raine & Horne Darwin listed a two bedroom townhouse at 18/94 Woods Street, Darwin for $424,000.

“This was a rare CBD townhouse, which attracted 19 groups to the first open home, where we secured seven offers,” says Mr Grantham.

“Predictably, with so many buyers jockeying for the prize, the townhouse sold in seven days, and for a price significantly above expectations.”

While delighted with the October result, Mr Grantham is expecting a very robust November, which is traditionally one of the Darwin real estate market’s strongest selling months.

“Like other markets around Australia, the combination of lower interest rates and pent-up buyer demand means it’s possible we may see more action right up to Christmas, where usually the market tends to slow as soon as we hit early December,” says Mr Grantham.

“This won’t necessarily be the case this year, so for those still considering selling a property in Darwin, there’s plenty of time to seek an appraisal to get the ball rolling.”

For those looking for an additional incentive to sell a Darwin property, Raine & Horne Darwin is offering owners the chance to win a Harley Davidson motorcycle or a luxury cruise to the value of $25,000, or a $20,000 cash prize, simply by listing a home before 30 November.

“To be eligible for the draw, the property must be sold unconditionally or settled prior to 31 December, with the winner announced in January 2014,” says Mr Grantham.

-ENDS-

For further media information contact:

Glenn Grantham, General Manager, Raine & Horne Darwin, 0418 803 222

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

Raine & Horne Darwin smashes record with biggest ever October sales result