McGrath expands its reach across Sydney’s Greater West as the region experiences exceptional growth
1st November, 2021 - McGrath West Group lead by Kon Stathopoulos today announced the expansion of its Greater Western Sydney operation. It will combine talent and expertise from McGrath’s Parramatta and Blacktown offices, the recently expanded Rouse Hill team and its Hawkesbury region acreage specialists.
Group Principal, Mr Stathopoulos confirmed the new operation will be under the banner of McGrath West I North West I Hawkesbury.
This announcement follows the recent merge of McGrath Rouse Hill with respected industry professional Ruma Mundi who has brought her team of five to the business. Ms Mundi joins as foundation partner in the expanded business alongside McGrath North West partners Phil Nicholas and Brett Humby.
Foundation partners Kon Stathopoulos, Amit Nayak and Joel Hollings continue to operate at McGrath West while partner Greg Vincent will head up McGrath Hawkesbury.
Mr Stathopoulos said the combined offices will create a connected network across Sydney’s west from Auburn to Wisemans Ferry. He dubs it McGrath West’s “buyer-seller highway.” The aim is to better serve clients through their property journey.
“Buyers tend to work their way from their first homes in Blacktown and Parramatta to the aspirational lifestyle available in the North-West as they grow into family life,” said Mr Stathopoulos. “For some, the dream of owning acreage draws them to the Hawkesbury region while many downsizers follow the reverse route by moving from their large homes closer to the vibrant hub of Parramatta. Having a presence across this wide arc will allow us to assist our clients through their property ownership.”
McGrath Estate Agents Founder, John McGrath is very enthusiastic about the expansion.
“The bringing together of three of our fastest growing offices into a consolidated ownership group is one of the most exciting initiatives in our company’s history. And with Ruma Mundi and her team joining forces with us, I believe it culminates in one of the strongest sales teams in the country as we look to further expand into the beautiful Hawkesbury region,” Mr McGrath said.
Western Sydney Director of the Sydney Business Chamber and former Lord Mayor of Parramatta City Council David Borger has great confidence in the future growth of Sydney’s West and North West regions.
“The last two years have shown that people really value space and lifestyle,” he said. “We have plenty of both here.” He noted demand for the region is growing as people move to where they can access good jobs and education.
“Parramatta and the North West are significant education and employment hubs and we’re seeing job growth here,” said Mr Borger.
“Premium businesses are emerging in the area and we’ll see more commercial offices move west."
Mr Stathopoulos agrees saying Parramatta City is transforming into a place of growth and long-term prosperity. “It is the epicentre for significant infrastructure investment across transport, education, health, sport and culture,” he said. “With $20 billion dollars of private and public investment reshaping the city, Parramatta’s 185,000-strong workforce is expected to grow by 100,000 over the next 20 years, and the number of residents will almost double.” source: City of Parramatta Council
The combining of the McGrath West I North West I Hawkesbury teams Mr Stathopoulos estimates, will transact approximately 1100 sales a year with an estimated sales over $1.2 billion. He said that following the end of lockdown in Sydney in October, he expects his agents will be meeting up to 1100 buyers each weekend across the combined business.
“That’s a huge benefit for us in negotiating sales and creating leads,” he explained. “And from the buyers’ perspective, we will be able to assist them through their property journey. This is a logical and strategic move for our group to follow the buyer migration from the Parramatta-Blacktown area towards the Rouse Hill region.”
Following the acquisition of Ruma Mundi’s business, the new McGrath West I North West I Hawkesbury will have an expanded rental roll with 1300 properties under management. The combined sales team will number 27 with 16 associate sales agents.
Mr Stathopoulos expects the new team to build on the outstanding results McGrath West achieved this year. “September was the business’ second biggest month and strongly followed by October sales,” he said. “Despite the restrictions imposed by the COVID lockdown, we’ve set price records in four suburbs [Lalor Park, Old Toongabbie, North Rocks and Parramatta (for a two-bedroom unit)].”
McGrath West recorded an auction clearance rate of 94 per cent for the month and an extraordinarily low average of just of 15 days on market for its listed properties. One auction held in September at 17 Burrabogee Road in Pendle Hill attracted 53 registered bidders and sold for $1.43 million.
“It was our job to navigate buyers, sellers, landlords and tenants through the lockdown and into the market and now we’ve moved into the post-lockdown period,” said Mr Stathopoulos. “We are capitalising on the strong tail winds of the 2021 market. We are buoyed by continued demand and have clocked in record listing numbers for October by our Parramatta and Blacktown teams.”