McGrath expands from outer to inner Canberra

McGrath will open two new offices in Canberra, the latest in a series of interstate expansions.

The company will launch branches in Dickson and Woden after entering the ACT market last year with an office in Gungahlin in north ACT.

The Canberra market is holding up better than any other market, says company owner John McGrath.

“Without doubt, Canberra is one of the most exciting real estate regions in Australia at present, having survived better than any other capital the GFC in terms of median price growth and rental demand and yield,” John McGrath says in a McGrath press release.

“Disposable income is 13% higher than the Australian average, unemployment is lower and the population forecasts suggest a growth rate of around 15%.”

McGrath currently has 42 offices, 12 of them opened since the start of this year.

Established in Sydney, the agency has recently expanded interstate operations. In 2009 it branched in Queensland and last year McGrath entered ACT.

Four years ago it started branching out into regional NSW, opening offices around the state.

The Woden office will open this week and will be run by franchisees Greg Ward and Cameron Whitnall.

The Dickson office will open early next year and will cover Canberra’s upmarket inner-northern and inner-southern suburbs

McGrath sold 5,993 homes in the 2011 financial year, which generated $5.7 billion, up from 5,095 properties generating $5 billion in the previous year.