McGrath Extends Into Regional Areas With New Office In Cooma
Leading residential real estate group, McGrath Estate Agents, today announced the opening of a new office in Cooma NSW, as the company further expands into new key regional lifestyle areas on the NSW and Victoria. This will be the third new regional office in the past two months, following opening in Albury/Wodonga and Mansfield in Victoria.
Founder John McGrath believes that affordability provides a huge incentive for regional migration as families reassess their lifestyle options.
Mr McGrath said, “COVID has definitely accelerated the ability to work remotely and areas within a two hour radius of large towns and cities I believe will be very much sought after, particularly as a commute has never been easier with new infrastructure that connects the modern worker more readily and easily.”
The Snowy Monaro Shire’s roots are rich in history dating back to the 1800’s, however Cooma’s name and reputation has been highlighted as it is at the centre of Australia’s largest engineering project, the Snowy Mountains Hydro Electricity Scheme. The Shire itself is the main gateway to the Snowy Mountains, Kosciuszko National Park and within close proximity to Canberra and Queanbeyan, and just 1.5 hours to the south coast beaches.
Christopher Mourd, Head of Franchise Network for McGrath Estate Agents said, “We see real growth and opportunity in these key regional areas as they have outperformed their capital city counterparts through COVID.” (source: CoreLogic July 2020)
He adds, “The Snowy Mountains of NSW are a key lifestyle market for our ACT and NSW client base, who are increasingly attracted by its relaxed way of life, affordable housing, and sense of community. Cooma is central to this market, serviced by a local airport, excellent infrastructure and connectivity, the Goulburn Bombala Rail line as well as good health and educational facilities.
“The region traditionally is a mixed grazing area, however it has benefitted greatly from the Snowy Hydro Scheme, and the ski resorts within an hour of Cooma. However, 2020 has seen the full approval of the nation’s largest renewable energy project, Snowy 2.0 which is expected to create more than 2,000 jobs during the construction peak with thousands of jobs generated indirectly.* With its added employment opportunities, we believe it offers excellent opportunity for growth in the next few years as a major regional hub for treechangers and young families.”
McGrath Cooma will service the area from Michelago in the north to Delgate in the south; and Bemboka in the east to Thredbo in the west. Key suburbs will include Cooma, Bredbo, Berridale, Jindabyne and Thredbo.
McGrath Cooma will be led by Principal Shannon Fergusson previously operating his own agency Fergusson Real Estate and Property with his wife, Rachel since 2010. Shannon has been in the industry for more than 20 years, and living in Cooma since 2005. Together they are well entrenched in the local community and have established a well respected real estate agency servicing clients locally and from out-of-area.
Mr Mourd said “Shannon is an outstanding agent and business operater with a highly credentialled track record of transacting sales in this area. He has great local knowledge, energy and commitment with substantial experience across residential, rural and lifestyle markets of the NSW snowfields. Most importantly, he shares the same values of transparency, ethics and customer service that is so important to us at McGrath.”
Mr Fergusson adds, “We are very excited about the transition to the McGrath brand. We already have a strong market share in Cooma, however we wanted to expand our business and offering into new markets. It was obvious to us, after careful consideration, that McGrath would provide us the tools to reach a wider audience. Their ability to help us tap into a stronger database through their sophisticated marketing channels will be a huge benefit to both our vendors and our landlords”.
The Cooma/Snowy Mountains Property Market Commentary:
Shannon Fergusson is the No 1 Ranked agent in the Cooma region by CoreLogic, according to Agency Ranking, Sales Volume and Sales Value.
In discussing the local property market, Shannon Fergusson explains, “The market around the Snowy Mountains is performing strongly in comparison to some areas of NSW.
“We are seeing strong investor demand, who recognise the opportunities before the Snowy 2.0 Hydro projects ramps up. There is a significant shortage of rental properties available to meet the needs of contractors, in addition to general market enquiry.
“Since the onset of COVID-19, we have experienced a large number of enquiries from both Sydney and Canberra not only for investment opportunities, but also for lifestyle requirements. This includes weekenders and those wishing a permanent tree-change where they can work remotely and escape the pressures of city life.”
The average median house price for Cooma is $320,000** Shannon Fergusson has achieved some excellent sales results.
Recent sales include in the last six months include:
- 44 Kiah Avenue Cooma - A street record for a 4 bedroom home sold for $615,000
- 6 Stratos Place Cooma - A street record for a 4 bedroom home sold for $597,000
- 9 Tulong Avenue Cooma - A street record for a 5 bedroom home sold for $499,000
McGrath Cooma will open with a rent roll of 450 properties under management and the new office is located at 50 Vale Street, Cooma, Phone: 02 6452 7004.
* Snowy Hydro 2.0
** Corelogic - July 2020