March was a very strong month for the residential property market, particularly in Sydney, which helped McGrath Estate Agents record an all-time high for sales for the month. McGrath's 62 office network made $1.46 billion from 1,281 sales in March, an increase of 14.6 percent on McGrath's previous company record of $1.27 billion from 1,237 sales last November.

12 McGrath offices—Edgecliff, Lindfield, Mosman, Epping, St George, Brighton-le-Sands, Surfers Paradise, Menai/Illawong, Ettalong, Wollongong and Bowral—clocked record sales figures for March, with an average sales price of $1.14 million. Sales activity was diverse with 345 sales over $1 million; 124 sales over $2 million and 17 sales over $5 million. McGrath also reports that 199 (40%) of the company’s Sydney metro auction properties were in the $750,000 to $1.5 million price range, while they recorded 175 properties (35%) went under the hammer in the $1.5 million to $3 million range.

John McGrath, Chief Executive of McGrath Estate Agents, said these figures were reflective of the continued strength of the property market. “We are seeing real strength in the auction method across our eastern seaboard network, particularly in the $750,000 to $1.5 million price bracket where we saw an overall clearance rate of 85%," said McGrath. “In terms of the most active buyers in today’s market, upgrading couples/families and investors continue to dominate."