One major network is launching a dedicated project marketing office after new figures show the ‘off-the-plan’ market is set to improve.
Raine & Horne Projects is aiming to provide services to property developers across Sydney, with many indicators pointing to the popularity of new homes growing over the next five years.
According to Raine & Horne, local councils and NSW Planning and Infrastructure are starting to adjust Local Environment Plans (LEPs) to encourage new developments and the new figures released by the Housing Industry Association (HIA) support the claim.
According to the HIA, the new project house price index rose by 1.4 per cent in Sydney in the December quarter last year.
Raine & Horne Projects will open in Marrickville under principals Michael and Nicholas Smith, who already run Raine & Horne Marrickville and Raine & Horne Commercial South Sydney/Marrickville.
“Raine & Horne Projects is committed to achieving the best possible outcomes for developers through premier service and a professional attitude,” said licensee-in-charge Luke Smith.
“We will work closely with developers and development sites from inner to middle ring suburbs, while Raine & Horne’s unique Global Database enables a project to be promoted to more than one million property consumers globally and is a major point of difference with our competition,” said Mr Smith.
Alex Vrisakis, sales manager for Raine & Horne Projects, said the launch of the office is perfectly timed to meet the Sydney market’s demand for new and off-the-plan properties.
“Population increases and a recent bounce in property prices have led to a call for new developments to be built in the NSW capital," said Mr Vrisakis.
“In response, some local councils and NSW Planning & Infrastructure have started to adjust their Local Environment Plans (LEPs) to encourage new developments, giving many developers the right incentives to submit applications.
“We are anticipating the off-the-plan housing market to increase in popularity over the next five years as more developments gain council approval, and Raine & Horne Projects will be perfectly placed to help developers meet their targets,” said Mr Vrisakis.