The regional strength of traditionally metropolitan-focused Richardson&Wrench has grown once again, this time with an opening in Orange.
The office will be run by Greg Toner, who has operated an independent office in the area for more than 18 years.
R&W executive director Andrew Cocks said the inclusion of Mr Toner and his regional office was an important move for the network.
“Over the past 18 years he has built up a very solid reputation for property management, as well as covering all sectors of sales, including residential, commercial and industrial,” he said.
“Orange has been one of the outstanding regional performers in recent years, experiencing a mini boom on the back of mining construction, coupled with the underlying strength of other sectors such as mining, tourism, agriculture and in particular, the health sector.”
With a population edging just over 40,000, Orange has seen a 20 per cent growth in the median house price over the past five years, in part due to the influx of workers and sub-contractors for mine-related construction. With the completion of many of these projects, the median price has settled into a steady four per cent growth in the past 12 months.
Mr Toner said the Orange real estate market was one of the most dependable in the country, with underlying strengths that transcended the lift that mining had delivered.
“It doesn’t break a lot of records but it also doesn’t have the bust that you find in many other markets,” Mr Toner added.
“There are some sections of the market that have suffered with the exodus of mine construction workers, but we also have a large population of health workers and professional medical staff who have been drawn to the big new hospital in Orange.”
Property management is a critical part of the business, according to Mr Toner.
“We have a very healthy property management business because we take particular care of both our landlords and tenants,” said Mr Toner.
“We have built a reputation from both sides for being fair and reasonable. We work on the premise that we make tenants jump through hoops before they come in and if they qualify for the house, we look after them well while they are in there. Ours is a very good quality rent roll.”