McGrath rides growth wave in Victorian coastal corridor

The new office, located in Torquay, will be led by principal Sam Parsons and will also cover the nearby suburbs of Jan Juc, Bells Beach, Bellbrae, and Freshwater Creek.

The network said the expansion was pivotal to strengthening McGrath’s presence in the Victorian growth corridor, with the office working alongside McGrath’s Geelong and Armstrong Creek branches.

Parsons, who brings more than a decade of experience to the new office, said Torquay had been identified as one of the state’s most desirable coastal markets.

“The area has high lifestyle appeal with coastal living, strong community, surf culture and some of the best beaches in the world,” Parsons said.

“We are strategically positioned across Geelong, Armstrong Creek and now Torquay – connecting a high-growth coastal and urban corridor that represents one of Victoria’s most exciting and premium property markets.”

“While market values have moderated slightly, long-term growth is strong, rental demand is resilient, and lifestyle appeal continues to attract permanent-home buyers and sea-changers.”

With a median house price of $1.2 million and rents increasing by more than 10 per cent, according to Cotality, Parsons said the region had experienced population growth driven by migration from Melbourne and interstate buyers.

“We are seeing high buyer and tenant demand across both sales and property management due to the area’s affordability compared to Melbourne.”

“Lifestyle demand and surf culture will continue to underpin long-term market interest in the Torquay area,” Parsons concluded.