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The Sydney entrepreneur has an expansion target of 100 offices in total in the next two years.
The new agency, to open next month at Broadbeach, takes McGrath Estate Agents to 34 offices. Only two others -- in Canberra and Palm Beach on the Gold Coast -- are outside NSW.
"We are believers in 'if you are not growing, you are dying'," Mr McGrath told The Australian.
"You have to take advantage of the momentum. If you grow intelligently, then growth is an incredibly healthy state for a company to be in."
In addition to the Broadbeach office, which will be owned by the company rather than being a franchise, Mr McGrath wants to open franchise offices on the Gold Coast and in Brisbane as the group follows population and lifestyle shifts. The first big move into Queensland comes three years after McGrath began rolling out its "premium" franchise network and 22 years after Mr McGrath bought his first business -- Goodhope Realty, where he had been working -- at Paddington in Sydney's inner east.
Sydney Real Estate and Infrastructure: Michael Marquette's “View ...
When you look at the infrastructure throughout New South Wales you quickly start to wonder what our politicians are doing. The New South Wales Government has been in power since 1995 (a staggering 14 and a half years) which is far too long for any Government. Electorates are abundant throughout Sydney because they are distributed along population lines.
This means that Regional NSW with fewer voters and fewer electorates misses on Government projects that could revolutionize our state and the Sydney Metropolitan area continues to expand, become more crowded and the freeways more like car parking lots. The rail transport is aging, is unreliable and is slower than it was 20 years ago. Surely there is a major problem that needs urgent resolution. Governments make decisions based on votes – they rarely make decisions on merit. I travel to Queensland for work on a weekly basis and my experience has been that Queensland Is on the move. They have airports in Brisbane, Gold Coast and on the Sunshine Coast. There is constant road works to improve the highways and a rail system that is effective – it’s getting quicker and quicker. In contrast New South Wales has Sydney Airport, there is nothing of note in Wollongong and the Newcastle Airport isn’t even in Newcastle and is shared with the Royal Australian Air Force . There is no rail link to Newcastle Airport and limited public transport to get there. In other words the State Government has encouraged Sydney to become bigger and sprawl further and increase in price. So why aren’t they solving the housing affordability crisis? They say they are with the First Home Owners Grant . All it has done is push prices up for real estate around $500,000 AUD – a bubble which is artificial and dangerous. Instead of building fast trains and creating world class airports outside of Sydney our Government continues to forget regional New South Wales – it’s a mistake and people need to let the politicians...
After all, who do you think it was that advised dotcom players like Wotif.com, Seek and REA Group (realestate.com.au) when they were booming? and more »
