Record March for McGrath
McGrath Estate Agents recorded its best month in the company's history during March.
The real estate agency based across New South Wales, Queensland and the ACT turned over more than $1.46 billion in property during March from its 1,281 sales.
It was 14.6% higher that the previous company record of $1.27 billion in November last year.
McGrath Statistics: March 2015.
Source: Facebook
The March 2015 sales figures covered 62 offices.
“Typically a surge in supply will bring clearance rates down unless demand is so high that the market can sustain the extra stock," chief executive John McGrath said.
"And that’s what happened in Sydney."
Sales activity was diverse with 345 sales over $1 million; 124 sales over $2 million and 17 sales over $5 million.
McGrath reported that 199 (40%) of the company’s Sydney metro auction properties were in the $750,000 to $1.5 million price range, while they recorded 175 properties (35%) went under the hammer in the $1.5 million to $3 million range.
“We are seeing real strength in the auction method across our eastern seaboard network, particularly in the $750,000 to $1.5 million price bracket where we saw an overall clearance rate of 85%," McGrath said.
“In terms of the most active buyers in today’s market, upgrading couples/families and investors continue to dominate."
Record sales performances in March for the McGrath network were:
- Edgecliff reports $232.2 million (+50% on November 2014)
- Lindfield reports $74.8 million (+143% on November 2014)
- Mosman reports $65.1 million (+ 87% on November 2014)
- Epping reports $55.5 million (+42% on November 2014)
- St George reports $54.7 million (+47% on November 2014)
- Ettalong reports $12.3 million (+47% on November 2014))
- Brighton-le-Sands reports $36.3 million (+14% on November 2014)
- Surfers Paradise reports $35.0 million (+101% on November 2014)
- Balmain reports $32.3 million (+10% on November 2014)
- Menai/Illawong reports $14.6 million (+3% on November 2014)
- Wollongong reports $13.2 million (+8% on November 2014)
- Bowral reports $11.6 million (+87% on November 2014)