Property News

Colliers launches new residential brand

06 October 2006

Colliers International has launched a new brand to focus on residential project marketing, land marketing, development opportunities and prestige residential resale services in Australia's east coast CBDs. The brand is to be known as Colliers PRD, and follows Colliers' purchase of PRDnationwide in May this year.

John Kenny, Chief Executive of Colliers International in Australia, said Colliers PRD is already appointed to market 50 key residential projects equating to $3.5 billion in value in Brisbane, the Gold Coast, Sydney and Melbourne.

Mr Kenny said a further $4 billion of property is expected to come on line over the next five years across prestige residential houses, apartments and land subdivisions across the country.

"Colliers PRD is an important part of the Colliers International family offering specialised residential services, in particular project marketing, to the growing pool of clients exposed to all sectors of the Australian property market," said Mr Kenny.

Grant Dearlove, previously with PRDnationwide, has been appointed Chief Operating Officer of Colliers PRD.

Mr Dearlove said the launch comes on the back of strong performances across Australia’s residential market, with the ABS June house price index figures showing every capital city has moved into positive growth.

"The premium end of the residential property market is performing particularly well," said Mr Dearlove.

"The market for lifestyle properties such as waterfront, hinterland, and coastal property is not affected to the same degree as general suburban real estate by changes in interest rates and affordability levels," he said.

"Colliers PRD research found the highest priced properties around Australia share the common components of being located within close proximity to a capital city or major centre, possess water frontage, and/or impressive views."

Mr Kenny said the PRDnationwide network will continue to be a valuable member of the new Colliers International group of companies and will continue to provide a valuable platform for market research and buyer sentiment across the country.