McGrath eyes Tasmania as it opens its first office in Launceston
18th January 2022 - Leading residential real estate group, McGrath Estate Agents today announced the opening of its first office in Tasmania in flourishing Launceston, as part of the group’s strategic move to establish a presence in the Apple Isle.
Founder and Executive Director John McGrath believes that Tasmania has an exciting future with an abundance of opportunities as Australia emerges from the pandemic. “We have seen that safe lifestyle destinations have become paramount in our choice of where and how we want to live, and Tasmania will continue to be in the world spotlight as a cultural and desirable lifestyle option for many seeking to relocate.”
Mr McGrath said he was delighted to welcome Launceston specialist Josh Hart and his team to facilitate bringing the McGrath experience to Tasmania.
“Josh Hart is one of the most exciting real estate professionals I’ve met in the last 40 years. So to have him heading up our inaugural Tasmanian offices is incredibly exciting. Tasmania is such a key market for us moving forward we wanted to wait until we found a world class partner before we launched there. And there is no finer talent than Josh.”
Christopher Mourd, Head of Franchise Network for McGrath adds, “We see Tasmania as the next most desirable market in the country today and we believe its popularity will only continue. Launceston is easily accessible and well serviced with direct flights from the key mainland cities and will be a focus for us as we have serious plans to grow outward from here to all key Tasmanian markets.”
McGrath Launceston will service the city of Launceston and surrounding suburbs from Dilston in the north, Youngtown in the south, Riverside in the west and St Leonards in the east.
Led by Principal Josh Hart previously operating from One Agency Launceston, the team will also include Brad Gray, Phillip Shearing and Tiffany Henricks. Combined they offer over 62 years of experience servicing their local market.
Mr Mourd said, “To partner with professionals with this level of experience and local knowledge is of the utmost important to us as a company, and to our network of clients.”
In becoming McGrath’s first Tasmanian franchise, Mr Hart explained, “We view McGrath as the most trusted and respected real estate brand in Australia, and to be a McGrath agent, you represent a brand of excellence with superior marketing, systems and culture. To align with McGrath as we enter 2022, gives our clients access to both national and international buyers who are looking to relocate or invest in our magical yet affordable state. Such an alignment, we believe is in the best interests for our clients.”
The past decade has seen Tasmania not only become a sought-after cultural destination, it is riding a wave of economic and property prosperity. As it emerges from one of the toughest COVID restrictions in Australia with more than 94% of its population double vaccinated and generous State Government fiscal and monetary support, it leads the country in construction, retail spending, relative unemployment and dwelling starts. *
The Launceston Property Market
In the state’s north, affordability, lifestyle and the rise in remote working has supported Launceston’s 22.8% jump in median house values to $445,000 to September 2021. **
Adding to the future prospects of Tasmania’s second largest city is The Launceston City Deal, a $356 million 10-year funding commitment between all three levels of government, set to position Launceston as one of Australia’s most liveable and innovating regional cities.
Mr Hart said, “I truly believe we are looking at the best 10 years ahead for our city. As a local, its fantastic to see our community thriving and an abundance of opportunities emerging. We’ve seen record price growth over the past two years combined with low vacancy rates, and our region has become a clear choice for those relocating from the capital cities as they seek a regional escape.
“The local market is heavily investing in its own backyard across small, medium and large projects with a record number of building approvals over the past 12 month which will flow on many years. The continued progression of the City Heart Project, UTAS relocation and Hydrogen Hub are some of the biggest capital investments our community has seen in its 164-year history. With State and International borders opening in 2022, I believe we will still see strong activity in the Greater Launceston Region as those buyers make decisions to relocate as their work environments allow for remote work, and the desire to have a quality life becomes attainable.”
Mr Hart advised that the suburbs of Legana, Perth, Longford, St Leonards & Hadspen, will show growth due to affordability for both families and investors within 15-20 minutes of the Launceston CBD. Legana has just announced a new Primary School, whilst major subdivisions are upcoming in Perth, Longford & Hadspen.
“We cannot keep up with the appetite for properties in our region. If we compare to 10 years ago on the amount of available properties to purchase, we're 70% less now, than in that period. This will ease slightly over the coming years as more land is released and building works completed, but with the population growth of buyers relocating to Tasmania, expect a competitive environment to secure a property,” he said.
Mr Hart and his team have been responsible for several record sales including:
$1.952 million 103 Correa Drive Relbia – suburb record
$1.7 million for 7 Carrera Place Norwood – suburb record
$1.49 million for 19 Maori Place, Akaroa – suburb record
$1.1 million for 27 Richings drive, Youngtown
* Ministerial Statement COVID-19 Response Measures, Premier of Tasmania, March 17
** CoreLogic Market Trends, published December 10, 2021