Richardson & Wrench (R&W) said its new office at Umina, located on the NSW Central Coast, filled an important gap in the franchise group’s network coverage.
“I believe the peninsula area is on the brink of taking off,” said new principal of R&W Umina, Phil McCord.
“Up to 70 per cent of buyers are coming from Sydney, where many people are priced out of the market. Good properties at the lower end are selling strongly and for investors, returning solid rentals.
“The better quality prestige waterfronts that have been well renovated and priced correctly are also finding ready buyers.”
R&W executive director Andrew Cocks said the Central Coast was an important part of the group’s strategy for expanding the network into locations with solid potential for growth and in territories alongside those where it had existing brand strength.
“We are fully committed to increasing our presence on the Central Coast, building on the strength of the network throughout Sydney and regional NSW.”
Mr McCord is a “long-time Umina resident”, and was returning to the group after first joining R&W in 2000. In 2002, he was named the company’s ‘Rookie of the Year’.
He left the group in 2004 and established his own franchise under another brand the following year, R&W said.