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Top real estate group expands into capital city’s trendiest spot

By Tim Neary
15 August 2016 | 1 minute read

A leading residential real estate group has announced the opening of a new franchise office in one of Melbourne’s trendiest and most urbane suburbs.

McGrath Estate Agents is set to open a new office in Northcote, located in Melbourne’s multicultural inner north.

The new office will be the company’s fifth in the Victorian capital.

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McGrath chief executive John McGrath said Melbourne’s inner north is one of the city’s most exciting and culturally rich areas.

“The inner north has seen a rapid rise in young professionals and families attracted to the area for its eclectic and vibrant lifestyle that is in close proximity to the CBD,” he added.

“Such diversity in the way of eateries, bars and shopping is important to an area’s growing desirability in terms of the property market, as well as its accessibility through good public transport,” Mr McGrath said.

Gino De Iesi will operate the new McGrath franchise office in Northcote.

Mr McGrath said Mr De Iesi is one of the inner north’s leading real estate professionals, with more than 22 years of industry experience. In 2016 he secured a new suburb record for Northcote, selling a home for more than $3.5 million.

Mr De Iesi said he believes McGrath’s core values of integrity, passion and community are closely aligned with his own, and that of his clientele.

“Northcote has a strong sense of community and I believe my clients will benefit greatly from McGrath’s local focus and commitment to excellence and innovation,” he said.

Mr De Iesi said a combination of high buyer demand and low stock levels has resulted in healthy price growth across the region.

“While the inner north hit a high note in 2013, it has continued on a steady growth path since then, with prices holding firm. However, suburbs such as Preston and Reservoir have reported more robust growth over the past 12 months, with buyers priced out of neighbouring Northcote and Thornbury moving further north seeking better value for money,” he said.

McGrath Northcote will focus on the suburbs of Northcote, Thornbury, Fairfield, Fitzroy and Preston.

It will also offer mortgage broking and property management services.

[Related: NSW auctioneers victorious in ‘State of Origin’]

Top real estate group expands into capital city’s trendiest spot
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Do you have an industry update?

top suburbs

12 month growth
Mirador
103.33%
Bawley Point
98.13%
Walla Walla
90.7%
Byron Bay
86.67%
Kiama Heights
85.93%
Greta
84.14%
Nulkaba
81%
South Hobart
78.78%
Diddillibah
76.25%
Lennox Head
73.98%
SEE AREA REPORTS ON SMART PROPERTY INVESTMENT WEBSITE
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Enter your email to receive the latest real estate advice and tools to help you sell.