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One newly appointed McGrath office has reported an increase in market share, higher average sale prices and greater clearance rates since joining the McGrath brand just six months ago.
McGrath Geelong co-principal David Cortous said that there has been a positive impact across the business since joining with McGrath Estate Agents.
“The pride in which the staff have for the McGrath brand has lifted not only morale among the team, but we are seeing a lift in performance and productivity,” said Mr Cortous.
“On the back of a tight market, we have strengthened our market share across our core area with higher average sale prices and greater clearance rates.”
Mr Cortous used the recent sale of the converted St Francis Catholic Church in Curlewis as an example. It had previously been on the market for two years with various other agencies, but exchanged with McGrath Geelong in just eight weeks.
McGrath founder John McGrath said that Geelong is well positioned for growth, with many new government departments and infrastructure setting up in the CBD, which is driving demand for residential property.
“Geelong is becoming a hub for many medical, tech and government organisations, which has been a very positive economic driver for the area,” said Mr McGrath.
Spring
Mr Cortous echoed Mr MGrath’s sentiments and said that he anticipates a strong spring selling season.
“The Geelong market is experiencing a healthy and sustained rate of growth with robust demand, particularly from Melbourne buyers.
“We are finding that for many Geelong is now the preferred option, in terms of affordability and lifestyle, over the urban sprawl of Melbourne. With numerous government agencies relocating to the region creating new employment opportunities, the desirability of Geelong will only continue to grow.”
He also said that Geelong’s coastal lifestyle and greater affordability appealed to a wide range of buyers, from young couples and families to seachangers.
“Retirees are attracted to the relaxed lifestyle, with little to no traffic congestion making mobility around Greater Geelong and the Surfcoast easily manageable.
“Since the government’s stamp duty cuts took effect in July, demand from first home buyers has intensified, resulting in a strong price growth in the sub-$600,000 market.”
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