Monday 8 Aug 2011
8th August, 2011 – Leading residential real estate group McGrath Estate Agents announced the opening this week of a new Thirroul office to build on the success of its recently opened Wollongong office.
McGrath Thirroul is a satellite to the Wollongong office which has achieved a number of record sales in less than two years since it opened in September 2009. McGrath Wollongong was one of the standout performers in the group’s FY11 sales record, transacting $77 million up 266% on $21million in FY10.
McGrath Chief Executive John McGrath said the volume and quality of homes being offered for sale in the coastal suburbs north of Wollongong had prompted the expansion.
"In just two years our Wollongong office has achieved extraordinary success and it was apparent that we needed a dedicated team of sales professionals located at the heart of this dynamic region," said Mr McGrath.
"The Illawarra had long been part of our strategy for the roll-out of our premium franchise given the proximity to Sydney and lifestyle opportunities that exist in the beachside locations and escarpment areas."
"Our expectations for Thirroul are even greater as we see quite modest homes and holiday shacks being developed, updated and renovated to an extremely high standard. That investment is being converted to solid capital gain with at least three properties this year marketed by our Wollongong office selling for well in excess of $1 million."
The Thirroul office will be headed by Principals Trever Molenaar and Jordan Andonovski, also franchisees of the Wollongong office. Among Trever’s many achievements during nine years working in the northern suburbs was the sale of 28 Redman Ave, Thirroul, for $1.26 million which set a suburb record in July last year.
Joining the sales team are Amanda Moore who last month sold 42 Trinity Row, Bulli, for $1.13 million and achieved a non-beachfront record for Bulli with the sale of 10 Alroy St for $1.38 million, and Vanessa Dennison-Pender, who has been a consistent top performer in her specialist areas of Austinmer, Coledale, Scarborough, Thirroul and Wombarra.
Mr McGrath said the benefits of intimate local knowledge and the McGrath six star marketing service had delivered outstanding sales results for residents of the Illawarra.
"The buyer demographic, particularly in the northern suburbs, has changed immensely over recent years," said Mr McGrath. "The value of property assets has increased and with it people’s expectations. This transformation is easy to see as travelling along Lawrence Hargrave Drive but it is spreading well beyond the beachfront."
"Road improvements have reduced the travelling time to Sydney increasing the pool of potential buyers. With our brand presence in metropolitan Sydney and extensive database our vendors have a distinct advantage."
Mr Molenaar, who grew up in the northern suburbs of Wollongong, said his team’s local knowledge and close community ties were critical in achieving top results.
"We are all part of this community and have watched as the population has changed," said Mr Molenaar. "There are a growing number of top end homes as humble holiday shacks are renovated to realise their true value."
"Around 20,000 people commute daily from the Illawarra to Sydney, taking advantage of the express train from Thirroul. As a destination for a weekender, there is very little to compare with this area in terms of its natural beauty and short travel distance."
Median house prices in the top northern suburbs which will be serviced by McGrath Thirroul are Woonona, Bulli, Wombarra, $830,000; Stanwell Park, $815,000; Coledale $785,000 and Austinmer, $720,000.
McGrath Thirroul will offer property management and home loans through Oxygen Home Loans. The office is located at 5/369 Lawrence Hargrave Drive, Thirroul, phone 02 4268 9800.