Sydney-based Trans-Tasman network, One Agency, has reported a strong start to the year, already adding a dozen new members to the network with more on the way.
CEO and Founder Paul Davies said the group continued to attract former franchised offices seeking a less constrained, more cost-efficient environment.
“In both New Zealand and Australia we are also seeing a number of our larger offices taking on additional businesses,” he said. “In New Zealand this could see the number of licenses double by year’s end with similar growth in 2020.”
According to Head of Australasian Membership John Stewart, new member enquiry lifted early in the year and had dramatically increased since last weekend’s election result added confidence to the real estate sector.
“When coupled with a likely easing of monetary constraints that have limited buyers since mid-2018, we should see a slow climb out of the market’s retrenchment since late 2017,” Mr Stewart said.
“We’re also hearing from many individuals and office owners who enquired as long ago as 2010, so I guess like everything, it’s all about timing and confidence.”
Much of the company’s growth has centred on Victoria, regional NSW and Queensland.
“New signings in Victoria have been in Northern Melbourne and particularly the Baw Baw, La Trobe Valley and South Gippsland region, which will have welcomed five new businesses covering seven licensed areas by the end of July,” Mr Stewart added.
“The New Zealand market is slowing somewhat, reflecting a spreading economic concern, so growth for us there is all about mergers and acquisitions driven by our stronger members and again, formerly franchised businesses making the switch.”
Mr Davies also confirmed an announcement would be made shortly regarding other offshore markets.
