Mcgrath Ltd (ASX:MEA)
has signed two new franchise offices in the Melbourne suburbs of Bentleigh and Croydon.
The real estate company says that the two new offices will open in May, bringing the office count to 4 in Victoria, and 84 across the East Coast of Australia.
Chief Executive, John McGrath, considers Melbourne to be one of the country’s most dynamic property markets as it has “continued to see solid growth over the past 12 months”.
Mr McGrath says that the Melbourne property market grew by 9.8 percent YOY, which he adds is the “highest of any capital city, followed by Sydney”.
McGrath Ltd recorded a net profit of $421,000 at 31 December 2015.