Tuesday 3 Jul 2012
July 2, 2012 - Following the recent opening of its company-owned office in Brisbane, leading residential real estate group, McGrath Estate Agents, today announced the opening of its office in the Queensland regional city of Toowoomba.
In the heart of the rich farming region of the Darling Downs and central to nearby booming mining and energy industries, McGrath regards Australia’s second largest inland city, as a growth area.
John McGrath, Chief Executive of McGrath Estate Agents said, having been a strong presence in the Gold Coast for the past two years and now operating in Brisbane, it seemed natural to expand into the Toowoomba region.
“We see this as a very exciting opportunity to open in what we consider a vibrant and growing centre and the demand for property is reflecting this.
“The impact of the 2011 floods is receding, there’s a new State Government in Queensland and the mining and energy sectors are growing which only spells good news for the region’s property market,” said Mr. McGrath.
“I believe that south-east Queensland is poised to enter a new growth cycle and the Government’s planned reintroduction of stamp duty concessions from July 1 will have a positive impact on home buying.”
For the past three years, Toowoomba, known as the Garden City, has been named one of nine investment hotspots by Australian Property Investor magazine. Just under two hours drive from Brisbane, it is the economic hub of the Darling Downs farming regions.
It also provides products and services for the nearby mining and energy industry, including Australia’s largest coal seam gas mine, as well health and educational infrastructure.
While the region was impacted by the Queensland floods, according to the REIQ, there was a 4% rise in the median house price in Toowoomba for the final quarter of 2011.
The region’s unemployment rate fell to 1.6% from just 3.5% between 2005 and 2009* as its population grew by 7%, a statistic that is meaningful to McGrath Toowoomba’s franchisees. *ABS
“Strong employment and the city’s affordability makes Toowoomba popular with investors, said Toby Sandell, Co-Principal with Wayne Adams of the new franchise.
“And retirees like Toowoomba due to the milder climate and good health care coupled with easy access to both Brisbane and the West.”
At the same time the area is popular with families and young people as it has 23 private schools as well as a range of public schools. It also has a technical college and is home to one of the campuses of the University of Southern Queensland.
The city has a long history and the housing reflects this with older-style Queenslanders dotted among newer homes. There are apartments as well as large blocks and larger rural properties in the region.
“Located in the Great Dividing Range with views across the Lockyer Valley, Toowoomba offers residents a more country oriented lifestyle with all the amenities of a major metropolitan centre,” Mr. Sandell said.
McGrath Toowoomba is located on Hume Street on the fringe of the CBD. It services a range of areas and buyers as there are strong commercial and residential markets in the city.
Mr. Sandell said they were attracted to the quality of the McGrath brand and its offering, and the positive impact that its founder John McGrath had on the real estate industry through innovation, training and education.
The office was previously named adamsmcnaught@ipct and had been co-owned by Wayne Adams and Bob McNaught since 1992. The agency has a sales team of seven, including Adams and his daughter Josie. The family-oriented business also includes Adams’ wife Henni, who is a property manager. Bob McNaught continues to work in sales and his wife and sister also work for the company.
Wayne Adams, who has worked in real estate since 1978, has built up a large and loyal customer base thanks to the length and depth of his experience in real estate and his knowledge of the Toowoomba market.
Toby Sandell has been in the real estate industry since 2003 when he started with Peter Snow & Co in Toowoomba. He has sold all types of family homes within a $300,000 to $600,000 price range.
McGrath offers larger regional territories rather than suburbs to its franchisees in the belief that it provides greater incentive to attract the best business and real estate talent.
McGrath Toowoomba will service Toowoomba and surrounding suburbs. Some key suburbs will include East Toowoomba, Middle Ridge, Rangeville, Mt Lofty, Centenary Heights and Newtown.
McGrath Toowoomba will offer the mortgage broking through Oxygen Home Loans and as well as an experienced property management team that will continue to service over 600 properties in their rent-roll.
The office is located at 195 Hume St, Phone 07 4616 9999.