BTWFRANCHISE NEWSNSW

McGrath opens new office in Lower Blue Mountains

The Announcement:

Leading residential group, McGrath Estate Agents, has opened a new office in a popular regional area of NSW. McGrath Lower Blue Mountains will be led by experienced sales agent and auctioneer Brad Cole.

Mr Cole brings almost two decades of experience in the increasingly sought-after outer Sydney region as it continues to undergo a post-pandemic transformation.

Strong price growth has been common throughout the ‘foot of the mountains’, with house prices getting higher with buyers changing to a younger demographic.

Whilst still popular amongst tradespeople and teachers in Sydney’s outer west, professionals taking advantage of flexible work agreements have also been increasingly present at open homes in the area.

Mr Cole explains that in the past homes were tightly held in the region, however the added competition for limited stock had resulted in some high-end acreage in the region fetching above $2 million.

“You simply weren’t getting anywhere near those prices when I opened up here over a decade ago,” explains Mr Cole. “There’s been some massive price results of late.

“Around the Lower Blue Mountains, once people get into the market, they’re happy to stay put for 12-14 years.

“But post-COVID-19, enquiry throughout the Lower Blue Mountains has come from younger buyers who are leaving the city, cashed-up, and competing in a tightly-held market which is also exposed to historically low interest rates,” he added.

Mr Cole has opened McGrath Lower Blue Mountains following 11 years as a Director of independent agency Lister & Cole.

Prior to that, his career included stints in sales in Blacktown before spending five years as an auctioneer within Cooley Auctions.

After years of approaches from major real estate networks, Mr Cole decided combining his local knowledge with McGrath’s premium support and standards best aligned with his business ambitions.

“McGrath’s commitment to service was a value that really resonated with me,” said Mr Cole.

“And their ethos is about helping us as real estate professionals which allows us to focus on providing our clients unmatched service.

“In such tightly-held markets, it’s so important to demonstrate your value and service in the real estate journey. Sellers and buyers want to feel as though they’re the only person in your life.

“I believe the customer proposition McGrath offers best reflects where the real estate experience is heading.”

Mr Cole believed market conditions would remain strong at the foot of the Blue Mountains for the remainder of 2021. The office will service Faulconbridge in the West, to Emu Plains in the East, Winmalle in the North to Blaxland in the South.

The median house price in Blaxland rose 13 per cent over the last 12 months for a median of $750,000. Glenbrook and Springwood both rose 18 per cent over the last 12 months for median house figures of $987,500 and $710,000, respectively. (Source: CoreLogic May 2021)

Christopher Mourd, Head of Franchise Network at McGrath Estate Agents, said the expansion into the Lower Blue Mountains was exciting for the company as it further focuses on its regional footprint.

“The Lower Blue Mountains offers a sought-after lifestyle: large allotments and acreage within family orientated villages that boast great retail amenities, cafes, schools and a true community atmosphere,” said Mr Mourd.

“Nearby Penrith is less than 20 minutes by train from Blaxland and growing as a commercial hub while commuters can be at Central Station in 70 minutes.

“McGrath is excited to add the Lower Blue Mountains to our expanding network, we are pleased to have an exceptional local operator with Brad’s real estate knowledge, connections, and dedication to customers, partner us in our growth.”

Source: McGrath Estate Agents

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