Real estate company open more branches

Media release – September 5, 2007

Fastest growing Canterbury-owned real estate company open more branches

Hastings McLeod, the fastest growing Canterbury-owned real estate company, today announced it has opened two new branches in the province.

The 35 year old company officially opened offices in Rangiora and Amberley this week. They also have offices in Waimate, Timaru and Ashburton.

Chief executive Graeme Wills said Hastings McLeod wanted to be strong in the provincial towns and surrounding rural areas.

``Rangiora and Amberley are growth areas and they fit so well with our rural, lifestyle and residential portfolios,’’ he said.

``We have become experts in selling provincial town real estate and lifestyle blocks and farms in the Canterbury and north Canterbury areas. We aim to offer a different and better service than other real estate agents.’’

``There are some gaps in our current spread of branches and we plan on further expansion as opportunities present themselves.’’

The branch manager at Rangiora is john Prosser who has worked in the North Canterbury area for over 48 years with 28 years in the stock and station industry.

He has been in real estate for over 20 years. Prosser lives on a lifestyle property in Loburn, farming cattle and sheep. His sporting interests include rugby, racing and cricket.

Wills said the general house market might be slowing but he said Hastings McLeod had always done well in a tightening market because vendors preferred to go with them because they had experience, reputation and secured top prices.

He said there would be a levelling off in residential values and a few less sales but they were still confident the market would remain strong.

``As for the farming sector, sales activity to some degree is driven by weather and seasons. We have just come through a good winter, spring is looking positive, the dollar is down, sheep and beef has been slow but we predict a lift in this area. We see it only improving in all areas of the rural real estate market.’’

Hastings McLeod has 35 agents with more than 380 years experience.

The winter months usually show lower market activity but their Ashburton office signed up $34 million of property in the June-July period.

Wills said they were opening the two branches tomorrow because they want the company to be well positioned for the start of the spring market which traditionally saw increased property activity.

Hastings McLeod director Paul Cunneen was recently been appointed as vice-chairman of the board of the NZ Realtors Network. The network is the largest real estate group in New Zealand with 153 offices and 2583 sales people.

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