Media release - 1^st March, 2013

Top End office ranked in national top 50

Report uncovers the country’s top 50 real estate sales offices
Raine & Horne Darwin features on the list
Seven Raine & Horne offices among Australia’s 50 best

Raine & Horne Darwin has been named one of Australia’s leading real estate sales offices in a national list of top performing agents.

The Darwin agent placed 42nd in the Real Estate Business (REB) Top 50 Sales Offices benchmark report, which ranks real estate sales offices across Australia according to a range of 2011/12 financial year business metrics including sales volumes, sales dollars and listing numbers.

Raine & Horne Darwin is joined on the REB list by six other Raine & Horne offices from around Australia, a significant achievement for the leading real estate group in its 130^th year of operation.

The robust performance of the Darwin-based firm was buoyed by its strong commitment to customer service and business systems, as well as a healthy local property market and increasing investor interest from local and interstate buyers.

“In the last twelve months, we have employed a dedicated customer service manager who monitors the needs of homeowners, buyers, investors and tenants, and ensures nothing slips through the net,” said Glenn Grantham, General Manager, Raine & Horne Darwin.

“From a management point of view, this recognition vindicates the systems we have in place and it is humbling to be positioned within REB’s top 50 offices in Australia,” added Mr Grantham.

According to Simon Parker, editor of Real Estate Business, the results are also testimony to the hard work and leadership shown by principals, many of whom operate in incredibly tough and competitive markets.

“The Real Estate Business Top 50 Sales Offices ranking gives us an insight into what some of the top performing offices do to stay ahead of their competition.

“The goal of our unique ranking was to look beyond just sales figures and provide a clearer insight into how these successful businesses operate.”

The local real estate market has also contributed to Raine & Horne Darwin’s success, especially CBD apartments, which have profited from renewed investor demand over the past 12 months.

“I predicted the bounce in CBD apartments 12 months ago as this market was hardest hit in the wake of the Global Financial Crisis,” said Mr Grantham.

“At the end of December 2012, the median apartment price in the Darwin CBD was $495,250, which was up about 6% over the last calendar year.

“That said, most of our apartment sales are from off-the-plan developments such as Central at 108 Mitchell Street, Darwin, where asking prices for modern two bedroom apartments have jumped by as much as 12% over the past 12 months.”

According to Phillip Tarrant, editor of leading property investment magazine Smart Property Investment, a sister title of Real Estate Business, Palmerston is another area that has good prospects going forward and will be a strong performer in the Northern Territory market.

“Units [in Palmerston] are just $343,100, and it sits just 21km from Darwin, being a satellite city. The area is seeing 6% plus yields on units, and 7% on houses – and this should continue with a vacancy rate at 0.3 per cent.

“One of the fastest growing areas, it has a number of resource projects and developments in the pipeline, and will also benefit from Darwin’s growth as well due to its proximity.”

Raine & Horne offices included in the 2013 Real Estate Business Top 50 Sales Offices ranking are:

Raine & Horne Double Bay (NSW) – 17th

Raine & Horne Gladstone (Qld) – 30th

Raine & Horne Neutral Bay (NSW) – 34th

Raine & Horne Charmhaven (NSW) – 36th

Raine & Horne Bardwell Park (NSW) – 38th

Raine & Horne Darwin (NT) – 42nd

Raine & Horne Marrickville (NSW) – 50th

-ENDS-

For further media information contact:

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

Andrew Harrington, National Marketing & Communications Co-ordinator on 02 9258 5400

Darwin real estate office named one of Australia’s best