Last week, McGrath Townsville opened its doors, making it the first branded McGrath office in the northern region and the ninth in Queensland.
McGrath first began its expansion northward four years ago, when it opened an office at Palm Beach on the Gold Coast.
McGrath chief executive John McGrath said north Queensland is an exciting growth area and has long been part of the company’s expansion plans.
“Townsville has always been on our agenda,” he said.
“It has a rapidly growing economy and is one of Australia’s most liveable cities, offering a diverse range of properties from premium waterfronts to modern inner-city apartments and traditional-style Queenslanders.”
Heading up the Townsville office will be husband and wife co-principals Brad and Kaye Matheson, after 17 years at the helm of Ray White Townsville City. Brad has been an agent in the city for 25 years and Kaye is Townsville born and bred.
Mr Matheson said that the apartment market provided strong rental returns for investors and there are low vacancy rates. The unit and townhouse market has grown over the years with a number of new developments coming onto the market, particularly in Townsville City, South Townsville and North Ward.
The new office has 700 properties under management (including everything from apartments to $1 million homes) and will offer mortgage broking services through Oxygen Home Loans.
McGrath Estate Agents currently has 56 offices located throughout Sydney, North Coast, Central Coast, Southern Highlands, South Coast, the ACT and Queensland.