Raine & Horne announces Gold Coast office merger

Raine & Horne announces Gold Coast office merger
Staff ReporterJune 2, 2016

Gold Coast estate agency Raine & Horne Mermaid has merged with former rival LJ Hooker Mermaid and appointed Anthony Steinberg as new principal.

Raine & Horne Mermaid will operate from 2485 Gold Coast Highway, Mermaid Beach, with former principal Kae Beadman staying on as a sales agent.

Steinberg said local apartments are attracting a 5 percent yield and out of area investor enquiry has spiked by 15 percent over the last couple of months. 

“The Gold Coast is one of the hottest property markets in the country at the moment, with days on market running at less than 14 days," he said.

“The Commonwealth Games is creating plenty of good consumer and business sentiment at a time when real estate values and lower yields in Sydney and Melbourne have local and overseas investors focusing on the Gold Coast."

Mr Steinberg, who was with his previous real estate group for 12 years, said large contingents of Chinese and Korean buyers are making their presence felt.

"They are being enticed by the Gold Coast’s lifestyle and education opportunities, afforded by the expanded Bond and Griffith university campuses, new hospitals and better transport infrastructure," he said,

Angus Raine, executive chairman, Raine & Horne said the merged entity will have much greater market presence than the two smaller offices enjoyed and this will offer a broader choice of real estate solutions and expertise to owner-occupiers and investors.

"After 27 years in the area, it’s pleasing that Kae Beadman has decided to stay on in a sales role and I’m sure her knowledge and familiarity with Raine & Horne will be a significant help to Anthony, who is a Mermaid Beach local. It’s a combination that I’m sure will make a significant mark on the local real estate market.”

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