Ensure you never miss an issue of the
real estate business bulletin
National network opening in rising city market

National network opening in rising city market

Opening, ribbon cutting
by Eliot Hastie 0 comments

One of Australia’s growing real estate groups is opening a new office in one of the county’s fastest recovering markets.

Raine & Horne is opening in Ellenbrook, a commuter belt suburb of Perth, roughly 45 kilometres northeast of the CBD.

Perth has been showing optimistic signs of a re-emerging property market since the lows of 2014, and recent CoreLogic data showed that, in 2017, prices only fell by 2.3 per cent, the smallest annual drop since May 2015.

CoreLogic data also found that Perth’s home value index increased by 0.1 per cent in the final quarter of last year.

Raine & Horne Ellenbrook will be managed by experienced real estate principal Ron Lyster, who will bring expertise to the office, said Raine & Horne WA general manager Craig Abbott.

“Ron’s knowledge and expertise in property development are perfect given there are extensive tracts of off-the-plan developments around Ellenbrook attracting the attention of first home buyers,” Mr Abbott said.

According to Mr Abbott, up to 40 per cent of buyers in Ellenbrook are first home buyers, but the area also attracts a few other demographics.

“It’s not just the young families who are moving to Ellenbrook,” the GM said. “Since Ellenbrook is on the outskirts of the metropolitan area, you’re also getting country people from the land seeking to downsize to a 500–800-square-metre block. So, Ellenbrook caters to a couple of different types of property demographics.”

Mr Lyster agreed with Mr Abbott and said that Ellenbrook’s affordability was attractive to many people.

“It’s possible to buy small blocks from 400 square metres for around $200,000, while established homes are selling for about $400,000,” the agent said.

Mr Lyster added that he chose to join Raine & Horne due to its fresh and innovative approach to real estate.

“I believe that opening a Raine & Horne office will be a good move as it will provide a fresh approach to real estate for the Ellenbrook area, particularly with the group’s focus on cost-effective digital technologies and social media marketing,” the agent said.

National network opening in rising city market
lawyersweekly logo
promoted content
Recommended by Spike Native Network
reb top 100 agents 2017

The REB Top 100 Agents ranking is the foremost ranking of agents in Australia. It has set the bar for excellence in Australian real estate. To be ranked as an REB Top 100 Agent is the standard real estate professionals strive for. See the full 2018 ranking here!

featured podcast

featured podcast
The difference between an average agent and one who dominates

McGrath Crows Nest’s Peter Chauncy is number 10 in this year’s REB Top 100 Agents ranking. Peter, however, is more likely not surprised ...

View all podcasts

Would you consider working for Purplebricks or a similar 'DIY' model?

Yes (7.2%)
No (80.9%)
Perhaps - make me an offer (12%)

Total votes: 209
The voting for this poll has ended on: July 13, 2018
Do you have an industry update?