Real estate group posts strong May sales figures

Despite concerns that property markets may be softening, McGrath Estate Agents has posted solid sales results for May.

The estate agent group transacted 502 sales in May this year worth $483.5 million, compared to the 420 sales ($394.8 million) achieved in May last year.

McGrath Estate Agent’s chief executive John McGrath said that the residential market remains very strong towards the bottom end of the market – the sub $600,000 mark.

There is also growing confidence in the mid to upper ranges, with some good results above the $2 million mark.