Top McGrath agents unite to establish dominant Lower North Shore presence
A significant merger between McGrath’s Hunters Hill and Lane Cove offices and its Crows Nest and Willoughby teams brings together the expertise and market knowledge of three longstanding McGrath agents who are leaders in the industry - Tracey Dixon, John Paranchi and Peter Chauncy to lead the expansion of McGrath across Sydney’s Lower North Shore.
This marks an extension in their operation to expand their market reach to also cover the key waterfront suburbs of Drummoyne and Mosman. Commitment from the trio has been cemented by their acquisition of McGrath’s Mosman operation.
John McGrath, CEO of McGrath Estate Agents said, “I’m personally delighted by this merge of what I regard as the finest real estate agents in the country. Tracey, John and Peter have been longstanding McGrath agents for many years and collectively bring an unparalleled experience and professionalism with outstanding results for our clients.”
Chris Mourd, Head of Franchise Network for McGrath says, “We have always focused on connecting buyers and sellers across our key markets. Mosman and its surrounding suburbs are important prestige markets especially in servicing clients focused on harbourside homes.” “The consolidation of our Hunters Hill, Lane Cove, Crows Nest, Willoughby and Mosman offices is a very specific strategy which will strengthen our support and commitment to our Lower North Shore clients with our agents deeply immersed within the respective communities,” he added.
Co-director John Paranchi sees an enhanced collaboration between the newly aligned teams. “It will allow us to offer a seamless and comprehensive service across our marketplaces ensuring clients benefit from our deep, local expertise,” he said.
“The merging of our Lower North Shore teams signifies strategic growth and positions us to meet the diverse needs of buyers and sellers in an even more effective and personalised way,” Mr Paranchi added. He said the sharing of resources across the expanded network will be an added advantage to clients. Joining the team to service the prime waterfront suburbs of Drummoyne, Chiswick and Abbotsford is area specialist, Antonios Kanis.
An integral ingredient of this expansion is the return of former McGrath agents Nick Gittoes and Anthony Godson. As Partners of McGrath Mosman, the pair lead a focused team including Sales Agent Nadine Marando and Associate Agent, Amelia Andrews. They specialise in the Mosman-Cremorne-Neutral Bay market where they have built strong connections and achieved a solid record of sales transactions. *[See recent sales below].
Market Commentary:
Anthony Godson reports a significant increase in buyer activity with a spike in enquiry of 35 per cent during September. “Serious, qualified, cashed-up buyers are outweighing the number of listings available in the marketplace at present,” said Mr Godson.
“We are seeing an increase in ex-pat buyer activity likely due to the relative weakness of the Australian dollar,” he added. “This interest is favouring the middle-to-high prestige market of $8 million to $20 million.”
Mr Godson noted two further demographics underpinning the Mosman-Cremorne-Neutral Bay market: local families upsizing in the area they love and the downsizing buyer. “The real heat in the market remains the downsizer,” he said, “With a high demand for luxury apartments with views.”
Gittoes’ and Godson’s gross sales volume for the last financial year totalled $130,000,000. Their listings average a swift 15 days on market against the Mosman average of 58 days. While Mosman currently records a median house price of $5,734,500**, up 10.3 per cent on the previous 12 months, its highest price recently reached circa $40 million*** confirming its position as one of Australia’s most highly prized residential enclaves.
The partners see McGrath’s collaboration with Knight Frank and Bayleys New Zealand as an opportunity to offer clients unrivalled access to a premium network of national and international buyers. This international exposure of their listings is of unequalled benefit to their clients.
The Mosman office has already secured a number of listings including 3 The Grove, Mosman^.
*Recent transactions by Nick Gittoes and Anthony Godson: • 43 Prince Albert Street, Mosman - sold off-market for $19 million • 2 Buena Vista Avenue, Mosman also sold for $19 million https://www.news.com.au/finance/real-estate/mosmans-urunga-sells-for-about-20m/news-story/0760b5f65041089865dc0a08736f6188
• 7 Hopetoun Avenue, Mosman – sold at auction for $14,215,000 https://www.realestate.com.au/news/mosman-home-owned-by-billionaire-sells-for-14215000-highest-auction-sale-in-nation/
** Data source: CoreLogic
^3 The Grove, Mosman https://www.mcgrath.com.au/property/22p1213193
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Terri Sissian
September 15, 2024
4 min read
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