Ray White’s top Australian selling principal Vivien Yap is pivoting into project sales in a big way by opening a new business dedicated to marketing exclusive projects.
Ray White Vivien Yap Exclusive Projects has just opened in Claremont and the top operator has wasted no time in recruiting two of the most highly regarded and experienced project operators in Amaro Velho and Chad Toquero.
Ray White Group Managing Director Dan White said the timing of the new business was perfect, given the momentum of the Perth property market and the transaction activity that was occurring.
“Prices are yet to return to where they were at the peak of the mining boom but with growth almost hitting nine per cent for houses and six per cent for units over the past 12 months, it is rapidly getting there. There’s plenty of off the plan projects right now in Perth and we only expect supply from developers will grow once the international border opens again,” Mr White said.
“Ray White and Vivien Yap offer an excellent opportunity for developers as she is well known for her passion and high energy. Vivien’s assembled a top team who have her same impressive high work ethic.
“Perth offers one of the best lifestyles on offer in the country, and it’s been amazing to see the local transformation in the property market in the last 18 months.”
Recognised across the industry as the top agent in Western Australia for five years in a row, Vivien Yap, also owns Ray White Dalkeith | Claremont and that will not change.
“This is an entirely separate business but one that is a natural extension of my current one. I have been involved in selling luxury real estate in Perth for 10 years now, and during this time I have worked with many international and local developers to sell their prestige stock,” Ms Yap said.
“Now is the time to seize this opportunity. The Perth market has never been so active, and COVID has accelerated local buyer demand and growth. We will be able to service the full suite of buyers from prestige penthouse buyers to professionals looking to buy their first investment and even first home buyers.
“I have been approached by quite a number of iconic developers, some based in Perth, others in Sydney and also others in Asia, to project manage their landmark properties. The time is now to be able to service our developers on a large scale. We have a highly experienced team and we are in it for the long haul.
“This is an exciting time to build a powerful yet niche project business out of my Claremont location. We will cater for all types of buyers. Investors looking for high end stock and also expats or interstate buyers who are planning to move home in the next 18 months or so. We’ll have off the plan projects for all buyers looking for apartment towers, townhouses and very upmarket first home buyers.”
The work from home trend adopted in COVID is here to stay with many new buyers requiring not one but sometimes two home offices in their dream home build.
Amaro Velho said he was excited to represent the Ray White group, who he knows will become a dominant player in this boutique market.
“There has been a gap in this market for a long time and there’s been players who have come and gone. No doubt, it’s a niche market but it’s a fast growing one. We’re in it for the long term which is exactly what you need to have the staying power in projects.
“Many off the plan marketing campaigns can take three to four years. The business will also offer a consultancy service for developers who are looking for an edge in sales and marketing strategy."
A marquee project the team are marketing right now is the Mustera Property Group’s new Applecross development called Forbes Residences, located in the heart of one of Perth’s most exclusive riverside suburbs.
Singaporean architectural firm WOHA has created a collection of 34 residences that radiate luxury. With a maximum of four residences per floor, prices range from $1.6 million to $3 million for the three and four bedroom units with views across the Swan River to the Perth CBD.
“This building will set a new benchmark for apartment living in Perth and it’s creating a buzz across the city. Demand has been strong for this building,” said Mr Velho, of the building set for completion in 2023.
Price growth in Perth has only been part of the story in the west so far this year.
Ray White Chief Economist Nerida Conisbee said time on market has seen the biggest decline in Australia, with Perth homes now selling far quicker than everywhere, except Hobart.
“Rental growth is also exceeding all other capital cities and while most cities have seen declines in rental levels, Perth surged more than 17 per cent over the year,” she said.
“For now, this strength is set to continue. Iron ore exports remain particularly strong and although China has signalled that they would like to diversify their sources of iron ore, for now it remains difficult for them to do so.
“Supplies from Brazil remain highly constrained and are unlikely to recover until a significant calming of COVID cases takes place. Other mining exports are also strong and this momentum has had a particularly positive impact on employment, household finances, and in turn housing demand.
“While existing housing has seen particularly positive house price growth, house and land developers have also had a great 12 months. Building approvals for houses increased by over 80 per cent, with HomeBuilder being a major driver of this increase. First home buyers were a key part of this growth as they were able to access not only this incentive but also others such as the Federal Government five per cent deposit scheme, as well as various state based incentives.”
