The NSW Hunter region is set for growth with increased buyer demand and excellent affordability, according to the principal of a newly opened office.
Raine & Horne has opened the 13th office located on the NSW central coast in Lake Munmorah, south of the Hunter Valley.
Principal Susanne Wood believed the timing to rebrand to the Raine & Horne banner couldn’t be better as the market is primed to take-off.
“Buyer enquiry is around 10 to 15 per cent stronger than Autumn last year, and we just can’t keep up with buyer demand,” Mrs Wood said, who added that housing affordability is a major attraction of the Lake Munmorah property market.
“Given our proximity to Sydney, Newcastle and the Hunter Valley … Lake Munmorah is a significantly undervalued real estate market,” she said.
Leading retailer Woolworths is set to open a new supermarket in October 2013, which points to further increases in housing prices.
“This is great news for Lake Munmorah, and shows major investment is occurring in a fast-growing area," said Mrs Wood.
“There’s a belief that the Woolworths opening will push up real estate prices from October, and some homeowners are prepared to sit tight until then.
“The trouble is that if homeowners wait for October, which is in the middle of the traditional Spring selling period, they run the risk of increased competition from other sellers,” said Mrs Wood, who is urging committed homeowners to list now to take advantage of the robust demand for Lake Munmorah property.”