Media release - 13^th February, 2014

Collaroy and Narrabeen nominated as 2014 hot spots

Leading Northern Beaches property firms, Raine & Horne Dee Why and Raine & Horne Collaroy, will now operate from a single commercial location, the spectacularly refurbished 685 Pittwater Road, Dee Why.

“As part of the move, we will also operate as Raine & Horne Dee Why & Collaroy from this premises, while Raine & Horne Commercial Northern Beaches is also located at this address,” says Lachlan Yeates, co-principal of Raine & Horne Dee Why & Collaroy, which has enjoyed 15 years of award-winning trade.

Raine & Horne Dee Why-Collaroy “For all intents and purposes, Raine & Horne Dee Why and Raine & Horne Collaroy have always worked together as one team but now myself and fellow principal Peter Mosedale have formalised the arrangement and shifted the business under a single roof.”

The timing for the move is also impeccable as Mr Yeates says he expects the markets in Collaroy North, Collaroy, Collaroy Plateau and Narrabeen to be property hot spots in 2014.

“Dee Why is the perfect location that enables us to service south as far as Freshwater and north to Newport, while we can still focus on a core market like Collaroy and the surrounding suburbs, so in this sense the move will be very much business as usual,” says Mr Yeates.

To this end, Raine & Horne Dee Why & Collaroy will maintain its existing office at 1020 Pittwater Road, Collaroy, utilising it for client meetings and presentations.

According to Mr Yeates, the decision to combine the two award-winning offices under the one roof was also driven by a determination to avoid complacency.

“We have a large share of the residential and commercial real estate markets along a significant stretch of the Peninsula, but we never rest on our laurels,” said Mr Yeates.

“With our strong one-team culture, we are always looking for ways to improve our services to our loyal customers and the next generation of real estate consumers.

“By bringing our combined staff of 50 residential and commercial property specialists under the one roof, we are confident we can maintain our position as a market leader in the competitive Northern Beaches property markets.

“We have a big team and in the current market we need to move fast, and having everyone working under the one roof will enable us to service the increasingly sophisticated real estate consumers we reach out to on the Northern Beaches.

“To illustrate, we already know that we have shaved internal email by a staggering 30 percent, which augurs well for providing rapid response real estate services to our clients,” added Mr Yeates.

As part of the new status quo, Raine & Horne Dee Why & Collaroy and Raine & Horne Commercial Northern Beaches will now occupy three floors of 685 Pittwater Road, Dee Why, which has undergone a major internal renovation.

“We now have a purpose-built real estate office that apart from residential and commercial real estate sales, property management and leasing services, also includes state-of-the-art auction and training rooms,” said Mr Yeates.

“We are also working in conjunction with Raine & Horne on a major revamp of the rh.com.au website, have a new mobile website and combined with our new office facility, we are confident that we will turn over more properties more quickly and efficiently, which will be music to the ears of owners considering a sale in 2014.”

Mr Yeates is predicting that after a robust 2013, property markets along the Northern Beaches will settle down in 2014, with growth of 5 to 10 percent expected for entry-level apartments and houses.

“Despite price growth in 2013, it is still possible to earn close to 5 percent gross yields for entry-level apartments in strata blocks in Dee Why, Freshwater and Collaroy, which start from around $525,000,” said Mr Yeates.

“With interest rates seemingly on hold for some time following last week’s Reserve Bank decision, it’s also possible that entry-level houses between $900,000 and $1.1 million in suburbs such as Curl Curl, Collaroy, Narrabeen, Mona Vale, Newport and Newport will also enjoy growth of between 5 and 10 percent.”

Angus Raine, Executive Chairman and CEO of Raine & Horne said mega real estate offices in some markets were part of a growing trend.

“In recent years, Raine & Horne Double Bay combined forces with Raine & Horne Bondi Beach to create a juggernaut office to service the sophisticated Eastern Suburbs property market, while we’ve also seen this outside of Sydney, with two of our best coastal offices, Raine & Horne Terrigal and Raine & Horne Avoca Beach, operating as a single entity,” said Mr Raine.

“The multi-office operation gives these businesses economies of scale benefits that can be passed onto customers, as well as the ability to slash duplication, which can deliver better and speedier service.”

–ENDS–

For further media information contact:

Lachlan Yeates, Co-Principal, Raine & Horne Dee Why & Collaroy on 0414 660 033

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

Mega real estate firm to operate under one roof at Dee Why