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Press Release
: : 19 March, 2004

Ongoing confidence in Southland property demonstrated by both residents and investors saw Harcourts' Invercargill and Gore offices enjoy their most successful month ever in February.

Owner of the offices, Tony Jenkins, said his teams wrote an average four property sale contracts per day, totally 129 by the end of the month worth $23.3 million, or just over $800,000 a day.

"We are continuing to see a lot of rental property investors, with a growing number from Melbourne and Sydney in particular, viewing property on our website and in some cases buying 'sight unseen'." Mr Jenkins noted that one Australian investor had purchased 19 investment properties last month, while just this week they had managed the sale of two properties 'sight unseen' to a buyer from Indonesia.

Mr Jenkins added that there was also a continuing trend of local residents 'trading up' to more upmarket properties, reflecting the confidence they had in their local Southland economy.

Good quality marketing was a key aspect to the successful sale of a property and Mr Jenkins believed their record month was in part due to new marketing campaigns launched by his offices in recent weeks. He did however caution that more properties being listed for sale was providing buyers with more choice, and it was important for sellers to be realistic about their price expectations.

Harcourts Invercargill was judged best out of 9,395 real estate offices throughout all of Australasia in September last year receiving a 'Best Practice Award for Elite Performance by a Sales Team' at the Australian Best Practice Conference.

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Harcourts International Ltd
Harcourts International Ltd is the largest real estate group in New Zealand and the fastest growing group in Australia with now close to 320 offices, including one in Fiji and ten in Indonesia. Harcourts began in Wellington, New Zealand in 1888 and in the 12 months to January 2004 managed $13.5 billion worth of property sales in residential, rural, commercial, projects and property development, as well as rental property management.

Tony Jenkins, Business Owner
Harcourts Invercargill and Gore Ph: 03-214 4080 or
027-432 2896


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