Following last week’s announcement of a new Queensland office, industry leader John McGrath has set his sights on another location tipped to experience significant population growth.
McGrath Estate Agents, a division of McGrath Limited, this week announced the opening of a new office in Liverpool.
Located in Sydney’s south-west, Liverpool is a rapidly growing centre, with the Liverpool City Council projecting its population will almost double to more than 325,000 by 2035, comparable to Canberra.
McGrath Estate Agents chief executive John McGrath said south-west Sydney is experiencing rapid urban expansion and population growth.
“With significant investment in the region for infrastructure and services, Liverpool will no doubt be a beneficiary in terms of the demand for housing,” Mr McGrath said.
“Its affordability, close proximity to both Sydney and to the proposed new airport at Badgerys Creek will be a very positive economic driver for the area,” he said.
McGrath Liverpool will service the local area from Fairfield in the north, to Catherine Field in the south, to Cecil Hills in the east, and Glenfield in the west.
The new office will be led by principals Luke Mannion and Anna Younan. The office is the third in the McGrath franchise under Mr Mannion’s leadership.
Four sales agents will join the team at McGrath Liverpool including Glen Craigie, Danielle Allport, Rick Mancini and Cameron Grima. Mr Craigie has a wealth of local experience and expertise, having serviced Liverpool and its surrounds for the past 14 years. Notable sales include $3,050,000 for a seven-bedroom property on Culverston Avenue in Denham Court.
Over the past five years, Liverpool has shown considerable growth with house prices increasing by 84 per cent. However, with a median of $708,000, Mr McGrath said the suburb still offers buyers excellent value for money.
“With healthy rental returns, Liverpool is popular with the investor market. Apartments in the suburb report gross rental yields of 5 per cent,” he said.
Mr Mannion said he expects that the new south-west rail link, expansion of Liverpool Hospital and the proposed Western Sydney Airport at Badgerys Creek will have a positive impact on population growth, employment and property values in the region.
[Related: McGrath expands national footprint]