McGrath opens second Melbourne office

The listed residential real estate group McGrath have strengthened their presence in Victoria as they open their doors today.

The new office is located in Melbourne's south east suburb Mount Waverley.

McGrath Waverley follows the opening of the company's first Melbourne office in St Kilda in December.

McGrath chief executive John McGrath has said choosing Waverley was a carefully considered and strategic rollout of premium franchises in Melbourne.

“Mount Waverley is one of Melbourne’s most dynamic and sought-after suburbs."

"With a selection of leading schools and an emerging Chinese community, the area has experienced strong growth and buyer demand," he said.

House prices in Mount Waverley have increased by 33 percent in the last 12 months and the median price for apartment grew by 16 percent.

The Real Estate Institute of Victoria reported that in 2015 Mount Waverley had one of the highest median price increases of any Melbourne suburb.

As well as Mount Waverley, the new office will focus the suburbs Ashwood, Chadstone, Glen Waverley and Wheelers Hill and will manage over 250 properties.

It will be headed by the former Jellis Craig employees Con Lazogas and Hugh Trieu.