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As the new year kicks off, McGrath West Group is on a mission to bring its “blueprint for the future” strategy to life — starting by laying further claim in the greater western Sydney area.
The group shared that it had acquired McGrath’s Castle Hill agency, bolstering its footprint to five offices in the region.
Group principal of McGrath Parramatta, Blacktown, North-West and Hawkesbury, Kon Stathopoulos, further stated that the acquisition is “part of a long-term strategy”.
“This acquisition is part of our blueprint for the future. I’m thinking not just of today but of the coming decades,” he remarked.
The addition of the Castle Hill agency bolsters the rent roll to almost 2,000 properties under management for McGrath West, North-West, Hills and Hawkesbury Group operations.
With the group’s sales team now comprising a 70-strong unit with 45 lead agents and 27 sales associates, combined transaction currently averages at 1,400 properties a year at almost $2 billion in value.
“Our Castle Hill agents, both in sales and property management, are part of a longstanding and very successful team,” said Mr Stathopoulos.
“We believe this strategic move will enable our agents to increase the number of sales and listings and improve customer experience by being in an interconnected network within this wide area. That network is unique among real estate agencies across this region,” he added.
The group’s acquisition announcement also comes ahead of McGrath West, North-West, Hills and Hawkesbury kicking off a Super Saturday auction event on 28 January, which will include properties from McGrath Castle Hill.
“Following the successes of our Super Saturdays in 2021 and last year, we’re taking 74 properties to auction onsite across our region,” said Mr Stathopoulos.
Expressing his confidence in the prospect for Sydney’s West and North-West, Mr Stathopoulos stated that the region, including Castle Hill, will be the “place to be” for many Sydneysiders.
“Castle Hill is the last piece of the puzzle,” said Mr Stathopoulos. “Buyers in this belt start their property ownership in units in Parramatta and then upgrade to townhouses in Blacktown and houses in the North-West. Their aim is to acquire aspirational properties in The Hills Shire or lifestyle properties in the Hawkesbury,” he said.
The Hills Shire, which encompasses Castle Hill, has a projected population growth rate double that of NSW.
In the 20 years to 2041, the group highlighted that Castle Hill is expected to see an annual growth of 2.2 per cent, more than double the 0.95 per cent per annum forecast for the state. Parramatta’s projected annual growth rate is also twice that of the state at 2.03 per cent.
In terms of housing affordability and job availability, Mr Stathopoulos also noted that the immigration hub of the Hills Shire, West and North-West Sydney will continue to grow and attract newcomers following those who have successfully put down roots in the area.
He also cited that the infrastructure around The Hills Shire, including NorthConnex, the Metro North-West, arterial freeways to Sydney’s central business district and the west, as well as Castle Hill Towers Shopping precinct and educational facilities, will continue to attract residents and investors to the area.
“It’s a diverse region offering units and townhouses, large established houses in leafy residential pockets, as well as acreage around Dural. The number of new residential developments in the pipeline proves just how popular the area is,” he said.
“That projected growth strengthens the value proposition for our buyers, sellers, landlords, tenants and for our people working with McGrath West, North-West, Hills and Hawkesbury,” said Mr Stathopoulos.
To fortify its foothold in these key markets, the group also shared that it is slated to launch a new dedicated Hawkesbury office in February.
Spearheading the opening of the new outfit is “born-and-bred” Hawkesbury resident and McGrath West partner Greg Vincent. Armed with three decades of experience transacting property in the region, Mr Vincent will also lead a “young and dynamic” team in the Hawkesbury office.
According to the group, Hawkesbury offers a mix of acreage alongside beautifully maintained lifestyle homes as well as entry-level property — which are expected to attract buyers desiring a rural lifestyle while being within a commute to Sydney and Parramatta’s CBDs.
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