Number of rental properties under management by McGrath increases
The number of rental properties under management at McGrath's company-owned offices has increased to 7,498 as of 31 December 2016.
It franchise office have a further 23,102 properties under management.
As of 1H 2016 the company owned offices secured $9,218,000 worth of property management revenue, which increased in 1H 2017 to $10,042,000.
As at 31 December 2016 the network comprised 28 Company owned offices and 68 Franchise offices with 648 agents operating within those offices.
The spread of offices is across the Eastern seaboard with a high concentration in New South Wales.
The Company entered the Victorian market in the prior year, a stated objective and strategic move to bolster the national market share. The total number of offices in Victoria currently stands at 8, and the contribution was $0.5bn in sales value for the 6 months to 31 December 2016.
Total agents has increased marginally over the period to 648.
Agents in the Franchise offices increased 7% to 405 however agents in the company owned offices decreased 8% to 243.
