Sydney, Australia (PressExposure) March 16, 2010 -- Leading residential real estate group, McGrath Estate Agents, today announced the opening of its first office in Canberra as part of its ongoing premium franchise roll-out throughout Australia. Under the leadership of Principal and respected local businessman, Craig Chapman, McGrath Belconnen/Gungahlin will be the first of three regional offices for the ACT.

John McGrath, Chief Executive of McGrath, said Canberra was one of the most important and influential real estate markets in Australia with the second highest capital city median house price at $535,000. (Source - RP Data November 2009)

"We are undertaking a strategic and orderly program of franchising with the ACT a logical choice for our interstate expansion," Mr. McGrath said.

"Our overall strategy is to move into areas that have a geographical synergy with Sydney where we can add maximum value. There is a strong flow of buyers between Sydney and the ACT and our existing operations will enable highly effective cross-promotion of ACT homes."

Mr. Chapman said the Canberra market had weathered the GFC well due to its strong jobs market and thriving private sector fuelled by IT, defence, construction and education. This is reflected in a CommSec report released last month stating the ACT and WA are Australia’s best performing economies. The ACT was propelled to the top spot due to strong property sales and residential construction, recording the highest growth rate in new lending for housing, up 29% compared to its decade average, as well as the highest number of new housing starts, up 22% in 2009 due to strong local employment, increased land production and low interest rates.

"Canberra is in a unique and positive position," Mr Chapman said. "Tight supply fuels strong demand and Gungahlin is a relatively new region with all housing types from $1.5M grand scale homes on the waterfront or golf course estates to a thriving apartment market with entry opportunities from $260,000. "It’s one of the fastest growing areas in the country and is currently home to over 35,000 people. When fully established, the Gungahlin region will account for 100,000 residents.

"We’re seeing heavy investment from the government and major developers such as Delfin LendLease and Macquarie in Gungahlin, so much so that the emerging land supply in our region represents 65% of the ACT’s total land supply program over the next five years. Gungahlin offers fantastic infrastructure with three shopping centres and a great café, restaurant and retail strip. We also have some of the best schools, parks, two golf courses and easy access to Government facilities. It’s Canberra’s new region of choice for home buyers."

McGrath is one of the most successful real estate networks in the greater Sydney region with arguably the most recognisable high-quality boutique brand in the country. John McGrath is one of the industry’s great visionaries, who founded McGrath in 1988 and ran the company privately for 18 years before deciding to franchise across Australia in 2006. The company has since opened new offices throughout Sydney, the NSW Central and North Coasts, the NSW Southern Highlands, the Blue Mountains and South-East Queensland, with the ACT office taking the total number of franchise and company-owned offices to 30.

Mr. McGrath said he was immensely proud to see his company expanding into Canberra."Our unique business model is purposely designed to enable the best real estate professionals in the country to do their best work and service their clients in the best possible way. We’re building an exclusive community of industry leaders and we’re taking the time to hand-select the highest calibre partners to own and operate our franchise offices."

Mr Chapman has a unique background in property marketing and consulting in the communications and advertising industries. As a sales agent, he spent four years with Elders Gungahlin, winning several top accolades for sales performance in the region.

"I have admired the McGrath brand for many years and John has been an inspirational leader. Having access to the best systems in the industry as well as the long-standing credibility and integrity of one of Australia’s leading brands provides me and my team with an excellent platform to create Canberra’s best property services business. Striving to achieve the very best sale price is a given in this industry but it’s the journey and the experience that will set us apart in the minds of our customers."

Joining Mr Chapman at McGrath Belconnen/Gungahlin is Justin Taylor, a multi-award winning agent who has sold more property in Gungahlin than any other agent and holds the records for Amaroo and Higgins. Also joining is new homes and developments specialist, Adam Jones. Mr Chapman said a property management division would also be established soon.

McGrath Belconnen/Gungahlin will service the north Canberra region including key suburbs such as Dunlop, Gungahlin, Nicholls, Kaleen and Belconnen.

Its state of the art premises is located at Level 1, The G, 46-50 Hibberson St, Gungahlin (above the Post Office). Call 02 6123 8000.

About McGrath Real Estate Agents

Starting up John McGrath Real Estate in 1987, John chased his dream of owning his own business and creating his own path. Within 2 years John McGrath sold Australia's highest price residential home at the time for $11.25m at 9 Wolseley Crescent, Point Piper, to overseas buyers through an international marketing campaign.Today, the McGrath team still strive to consistently deliver accountable results for its clients with total integrity and transparency.

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