Sydney-based real estate group Belle Property will look outside its home market for growth in the 2020 financial year, with Victoria and Queensland billed as key areas for expansion.
Belle Property head of sales and business development Nick Boyd said following the group’s merger with Victorian agency hockingstuart in April, Belle was focused on building out a niche in the luxury property market in the southern state.
“Our aim is to grow and develop hockingstuart with key strategies around positioning agents in the top-tier-priced properties within each respective area,” Mr Boyd said.
“Having already begun this strategy, we are seeing the added benefit of increased referrals throughout the network, which is proof of the strength and growth of our network for the future.”
Mr Boyd said the group would focus on recruitment as it continued to build its Victorian arm, while expansion into key Queensland markets including the Gold Coast and Cairns was also on the cards.
“Over the last year, the Gold Coast has been an interesting marketplace to watch; historically driven by tourism, the market has fluctuated significantly, but in more recent times, our data has shown stabilisation, so our expansion through this region makes a lot of sense to us with the right people at the helm,” he said.
“There is also a renewed strength coming out of the Cairns marketplace, where there are significant growth opportunities as more and more development takes place.”
Mr Boyd added that property management was another key growth area for Belle in the coming 12 months, with the group’s rental business having exceeded expectations.
“Through strategic partnerships internationally, software upgrades and in more recent times the attraction of larger, more established offices moving to Belle Property, we are ahead of the scheduled growth targets we have in place to hit by the end of 2021,” he said.
“Our approach is to use technology to enhance the tenant and landlord experience to offer greater transparency, with faster and easier availability for both sides.”