In a bid to capitalise on the strong Sydney’s north shore real estate market, leading agency, Raine & Horne will open a new office at Turramurra, situated at the corner of Pacific Highway and Kissing Point Road, on February 1.
The new set-up comes after the franchise had launched offices in nearby suburbs such as Hornsby, Lindfield, North Sydney, Crows Nest, Neutral Bay, Mosman, St Leonards and Chatswood/Willoughby last year.
“Raine & Horne has been involved in property transactions on Sydney’s North Shore since 1883, and the region has been synonymous with the growth and history of our brand, ”Raine & Horne, executive chairman, Angus Raine said.
“We have recognised that Turramurra and surrounding suburbs don’t have a sufficient level of real estate competition.
“We have sought to rectify this situation for local owners and buyers, with the launch of Raine & Horne Turramurra, will be led by highly experienced local agent Vicki Hall,” said Raine.
Hall, a long-time resident of Turramurra, has previously been a school principal and worked in the financial planning and finance sectors.
Since 1996, Hall has enjoyed a stellar real estate career with some of the biggest brands in the Australian real-estate industry.
“Linking with Raine & Horne makes sense because it is a traditional brand that resonates with North Shore homeowners, buyers, investors and tenants,” said Hall, who recently owned a real estate office in nearby Waitara with another property group.
“Raine & Horne has a robust presence on the Upper North Shore and owning a business in Turramurra is a long-term goal.
“We can see an opportunity to create more competition for local homeowners in Turramurra, which is traditionally a tightly held owner-occupier suburb,” said Hall.
According to research from Raine & Horne, the median house price in Turramurra is $1.83 million.
“To illustrate how tightly held Turramurra has become, four years ago, there were roughly 145 homes for sale in the suburb. By early 2017, the average number of homes for sale has fallen to 30 listings,” said Hall.
“Yet we still have the same number of buyers looking to get into this market – and why not? It has a great little shopping centre with a Coles, as well as a railway station that can have you in the city in 20 minutes. Turramurra Station is the only railway station between Hornsby and Chatswood with lift access,” she said.
Hall predicts that when construction of the North Connex completed in 2019, there will be far less stress from out-of-area vehicles on the Pacific Highway at Turramurra.
“Ultimately, the North Connex will be fantastic for residents, and it won’t affect values during the construction phase,” Hall said.