22 March 2010

Stockton market attracting premium prices

Leading Newcastle property firm Raine & Horne Stockton is urging sellers to list their properties now and take advantage of the tight market created by a shortage of quality housing.

Raine & Horne Stockton proprietor Jason Maxwell said the Stockton market was performing well, but like property markets nationally there were not enough listings to satisfy buyer requests.

“It’s simple supply and demand – the lack of stock is putting pressure on prices and pushing them up,” Mr Maxwell said.

“There is no doubt that right now is the time to get a premium price if people are thinking of selling, and for buyers now is the time to buy because prices are only going to icrease," he said.

Stockton, which is located within a 5-minute ferry ride of the Newcastle CBD, is an attractive option for both owner-occupiers and investors.

“Property in Stockton starts in the high $200,000s and there is strong demand for  cheaper properties and those that are beachside.”

“For high $200,000 to early $300,000 buyers can get a property only 2-3 minutes walk from the beach. Property this close to the beach in Newcastle would be $1 million. This is why Stockton represents such a great buying opportunity."

A rising market is not the only cause for celebration at the Raine & Horne Stockton office. The office earned an award at the recent 2009 Raine & Horne NSW/ACT Chairman’s Awards, held at the Four Seasons Hotel, Sydney. Sales person Keith Wagner was elevated to the Chairman’s Club, a prestigious award recognising Raine & Horne’s leading salespeople in 2009.

Raine & Horne CEO Angus Raine commended Raine & Horne Stockton for its outstanding contribution and dedication to Newcastles property sector.

“The team has capitalised on the area’s proximity to Newcastle's CBD. Their award also underlines Raine & Horne Stockton’s consistent ability to remain true to its core business, which is achieving property sales and providing the best property services to vendors and buyers.”

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 all your property needs, contact Raine & Horne Stockton on (02) 4915 3000.

For media information, contact Jason Maxwell on 0425 302 777.