John McGrath expands northern NSW coastal presence with Byron Bay office

John McGrath is targeting sea and tree-changers with the opening of a new McGrath Estate Agent office in the northern NSW coastal resort town of Byron Bay.

McGrath Byron Bay will complement the established Ballina office, which opened at the end of 2009.

"Byron Bay and its surrounding hinterland have long been desirable locales for city people looking to make a sea or tree change and the real estate market has improved considerably in the last 12 months,” says McGrath chief executive John McGrath.

“The area has always been part of our expansion plans as we see it as synergistic with our existing client base and now is the perfect timing to open an office here.

“While median house prices are relatively high compared with other nearby beach areas, the region offers a lifestyle which is highly attractive and affordable to retirees, or professionals and their families, from Sydney, Brisbane and Melbourne,” he says.

The median house price for Byron Bay is $555,000 and the median unit price is $430,000, according to March figures from realestate.com.au.

There have been a number of sales above $1 million in recent months and beachfront houses in prestigious Wategos Beach range from $2 million to $7 million.

Prestige listings include the Rae's on Watego's guesthouse at Byron Bay, re-listed in February after its $20 million purchaser failed to settle an October 2012 pre-auction deal.

The Byron Bay office is the fourth in a McGrath franchise group led by David Mills.

This group includes McGrath Ballina (formerly Ballina/Byron Bay), Coolangatta/Tweed and Palm Beach.