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The best is still yet to come, according to Raine & Horne executive chairman Angus Raine, even after the group reported two of its best trading months ever.
The network has revealed it secured almost 17,500 listings Australia-wide in the 2020–21 financial year, while also adding a record 120,000 property managements to its rent rolls.
According to executive chairman Angus Raine, the last 12 months have provided some of the leading real estate group’s best trading results since its founders Tom Raine and Joseph Horne opened the doors of their Sydney office back in 1883.
“Before this most recent COVID outbreak, Raine & Horne recorded the best two months of trading in our history!” he exclaimed.
Even with more than 300 offices across the country, Raine & Horne managed to launch 14 new offices over the 2020–21 financial year, in spite of pressures and barriers brought about by the COVID-19 pandemic.
The network has also indicated it has expectations to launch a further 20 branded offices before Christmas 2021.
It’s also touted taking 252,000 groups through property open homes, and the attraction of 19 million unique views online, after reaching a combined target group of more than 140 million through platforms Digikit and Amplify.
The latest Raine & Horne results contradict an industry-wide drop in listing volumes across most markets, which Mr Raine has observed as occurring since 2016.
“However, before the current COVID outbreaks, markets across Australia were experiencing a huge boom and even better promising signs of an increase in sales volumes,” he noted.
“It is also important to note that large portions of our national real estate market haven’t been as impacted by the pandemic as other markets.”
The executive chairman has also noted that national dwelling prices are up by 16.1 per cent from just one year ago, which he said is “the fastest rise since the market boom in 2004”.
That rise has led Mr Raine to predict that “once we put this pandemic genie back in the bottle, we are going to see the biggest property boom in history”.
ABOUT THE AUTHOR
Grace Ormsby
Grace is a journalist across Momentum property and investment brands. Grace joined Momentum Media in 2018, bringing with her a Bachelor of Laws and a Bachelor of Communication (Journalism) from the University of Newcastle. She’s passionate about delivering easy to digest information and content relevant to her key audiences and stakeholders.
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