McGrath Expands Its Focus On Regional Victoria
Leading residential real estate group, McGrath Estate Agents, a division of McGrath Limited (ASX:MEA) today announced the opening of an office in Ballarat, a move that reflects the company’s desire to expand further into key areas in regional Victoria. This follows McGrath opening its first regional office in Geelong in 2017.
Founder and Executive Director John McGrath said that Ballarat is an important growth area of Victoria.
“We earmarked Ballarat over two years ago in our McGrath Report as an important key regional market that has transformed itself from an industrial hub to an attractive lifestyle centre that offers more affordable housing, employment opportunities, a strong sense of community and a relaxed way of life. Ballarat is a prime example of a regional city that is no longer the sleepy second tier town but conversely, one that has come of age as thriving economic centre and community.”
Christopher Mourd, Head of Franchise Network for McGrath Estate Agents agrees, “Ballarat has been on our radar for some time. As the third largest city in Victoria, it is one of Australia’s fastest growing and most liveable regional cities with diversified manufacturing, tourist, education and professional services in abundance.
“Ballarat is a well-planned city that is steeped in history from the days when it was at the heart of the gold rush, and then a manufacturing town.”
McGrath Ballarat will service the area of from Ballarat North to Durham Lead in the south; and Cardigan in the west to Warrenheip in the East. Key suburbs will include Ballarat Central, Solders Hill, Wendouree, Canadian and Ballarat North.Mr Mourd said, “In the week prior to opening, there has been a significant momentum and positivity as properties transitioned over under the McGrath banner, with 16 opens, 110 viewings with offer and acceptance on four properties.”
McGrath Ballarat will be led by Principals Daniel Nestor and Sean Toohey who have been involved in a sales and operational level with various real estate agencies in Ballarat. Most recently both were Directors of Ballarat Property Group.
Mr Mourd said “As we move into this important Victorian property market, our focus has been to find the right partners in Ballarat who share our core values as well as the depth of local knowledge and experience in the area. Both Daniel and Sean are highly professional in their approach to business and both embody the honesty, transparency and integrity that so important to us at McGrath.”
Mr Nestor explains, “Ballarat deserves a premium brand with the highest quality people servicing the market, and that is exactly what we intend to do in building this business. We want our clients, both vendors and buyers to benefit from the best marketing, knowledge and customer experience that we can offer.”
Mr Toohey adds, “Our decision to align ourselves with McGrath came about as we believe the brand not only compliments our own values and ethics, but gives us the opportunity to learn from some of the very best agents in the country, and we see great benefit from that.”
The Ballarat Property Market
In discussing the local property market, Mr Nestor believes there is a strong first home buyer presence, however investors are still a dominant buyer group. However the migration of families and professionals from Melbourne metro areas is an increasing trend with population on the rise and infrastructure projects enabling the commute more viable.Infrastructure Victoria estimates that its population will grow to 305,000 people by 2046 from its current population of 157,485 in 2016 Census. *
The $25 million redevelopment of the Ballarat Station Precinct commenced in 2017 and is anticipated to revitalize and transform the precinct in a commercial and cultural hub, along with approximately $38 million from Victorian State Government to plan the Ballarat Link Road, a 16km road that will be a major north-south arterial road.
McGrath Ballarat will open with team of eight, and its property management division will have a rent roll of 280 properties opening. The new office is located at 805 Sturt Street, Ballarat Central. Phone (03) 5332 9226
*Victoria’s 30-Year Infrastructure Strategy December 2016, Infrastructure Victoria