Tuesday 3 Jul 2012
July 2nd, 2012 – Continuing its push into the nation’s capital, leading residential real estate group McGrath Estate Agents said today it has opened a third office to service the north- east region of Canberra in the business hub of Dickson with future plans for a satellite office in Manuka.
Chief Executive of McGrath, John McGrath, said the Canberra market continues to be one of the most resilient in the country with relatively high average incomes, low unemployment and a strong retail sector but it also has plenty of affordable property available with room for future growth.
“These new franchises are part of our overall strategy to move into areas that have a geographical synergy with Sydney so we can add maximum value. We see huge growth potential in this market and our rollout of our offices through Canberra so far demonstrates our confidence in this important property market” McGrath said.
The opening of McGrath Dickson follows the launch of the agency’s first Canberra franchise in Belconnen/Gungahlin in February 2010 and its second, in Woden, in November last year.
The new regional office is strategically positioned to take advantage of a range of investors in the Canberra market as its catchment includes the stylish cafe suburbs of Kingston and Manuka, the Australian National University, Parliament House, a range of Government departments as well as some of the ACT’s more rural areas which are popular with families.
“Dickson is one of the most affordable suburbs and one of the best buys for future growth outside Sydney,” McGrath said. “There are some excellent buying opportunities with unit developments catering to a wide section of the community from owner occupiers to investors and first home buyers who can enter this market at a very affordable entry point of $350,000 to $450,000.”
McGrath Dickson Co-Principal, Christopher Dixon said: “The Manuka office, which we plan to open in about 18 months, will act as a satellite office to Dickson catering to the more prestigious end of the market.
“Manuka and Kingston contain some of Canberra’s most desirable property with waterfronts on Lake Burley Griffin selling for more than $2 million, and are the types of properties that will really benefit from McGrath’s outstanding marketing.”
Mr. McGrath added that the ACT Government has a masterplan for Dickson to encourage and improve large scale investment into new infrastructure in retail and commercial sectors in the area.
The new McGrath Dickson franchise was previously known as Peter Blackshaw Inner North & Rural and has been operating since July 2007. The experienced sales team of 8 agents will be led by co-franchisees Christopher Dixon, Lou Seminara, Maree van Arkel and Sharon Dei Rocini.
“Our entire team is excited to be joining the McGrath brand,” said Christopher Dixon, a former public servant who has been in real estate since 2004 and lived in Canberra and the surrounding region for most of his life.
“From Dickson we will cover suburbs from Watson in the Inner North, to Narrabundah in the Inner South, Yarralumla in the West and Hacket in the East. We also cover the rural suburbs of Bungendore, Sutton, Wamboin, Bywong and Gundaroo which offer tranquil, relaxed living within a short drive from Canberra,” he said.
“There is a vast range of quality homes and units on the market at any given time and closer to the city there are many new developments. In terms of rental properties, new developments in Acton, O’Connor, Lyneham, Canberra City, Downer, Braddon and Kingston offer strong rental returns.”
Canberra is Australia’s largest inland city with a population of 358,000 (June 2010). It has all the lifestyle amenities and parklands, city services and events of a world-class capital, yet the bush is on the doorstep and Sydney, the snowfields and south coast beaches are within easy reach.
Over the past decade Canberra house values recorded average annual growth of 8.4% and unit prices recorded annual growth of 8.7% on average. Over the year to December 2011, rents have increased by 3.8% for houses and by 4.1% for units (source RP Data).
McGrath Dickson will conduct sales and have a strong property management portfolio. They will offer a mortgage broking service through award winning Oxygen Home Loans. The office will be located at 4/3 Cape Street, Dickson. Telephone 02 6262 5122.