Raine & Horne set to give the property market some Kurri with new Hunter region office

Raine & Horne has celebrated the opening of their new office in the Hunter Valley region, New South Wales.

The Announcement:

Raine & Horne has added to its rapidly expanding network in the Hunter region with a new office at Kurri Kurri led by the experienced real estate pairing of Carolyn Wallis-Tomlins and Ryan Mitchell.

Raine & Horne Kurri Kurri has launched after Ms Wallis-Tomlins, who started the office in 2016, and Mr Mitchell agreed that it was time to change. Mr Mitchell has been a principal of the office since 2020 after beginning his real state career in property management in 2010. He has also worked as a business support and development manager.

Prior to joining the real estate industry in 2012, Ms Wallis-Tomlins ran multiple small business ventures including hair salons, pubs, and several agricultural enterprises.

“We have decided to switch to Raine & Horne because there is a lot of support from corporate as well as the opportunity to expand across the Lower Hunter,” said Ms Wallis-Tomlins.

“We haven’t been contemplating this move lightly and have been deliberating over it for 12 months.”

Mr Mitchell agreed, “We have the opportunity to service more significant parts of the Hunter”.

Market outlook excellent for Kurri Kurri

Ms Wallis-Tomlins confirmed the Hunter region is one of NSW’s fastest-growing, while its real estate affordability continued to attract buyer attention. The median house price in Kurri Kurri is $419,000, which is up by $50,000 over the last 12 months. Newer homes will command prices closer to $600,000.

“While our property values are rising, they are still very affordable compared with Sydney, Newcastle and the Central Coast. This affordability is driving buyer enquiries.”

According to Ms Wallis-Tomlins, most Kurri Kurri buyers are coming from outside the Hunter. This mix includes an even spread of owner-occupiers seeking to live in the region and investors looking for a high-yielding rental property.”

Mr Michell said: “We have plenty of green changers from Sydney, Newcastle and the Central Coast, and COVID has pushed along this trend”.

“These owner-occupiers realise they can now work from home in the Hunter due to improved technology.”

On the investment front, a median house worth $400,000 will attract a weekly rent of $400, according to Mr Mitchell. “This is a rental yield of 5% and is very attractive when Sydney investment properties would be lucky to generate yields of 3%.”

Looking ahead for the remainder of 2021, Ms Wallis-Tomlins said that while buyer demand is outstripping the supply of properties, owner-occupiers and investors can still secure a quality, well-located and well-priced property in Kurri Kurri.

“That said, the message to owners in Kurri Kurri is that if you’re considering a sale, this winter is a great time to make a move.”

Source: Raine & Horne Media

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