McGrathmageddon posts $63 million loss

Monday 20 August 2018

The collapse in Sydney property sales volumes, which have fallen around 35% from the recent peak:

Has taken its toll on McGrath Limited, which has today posted a $63.1 million loss for FY 2018:

McGrath posted a $63.1 million after tax loss, hit by difficult market conditions, lower sales, and the departure of some of the real estate agency’s sales agents.

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About the author

Leith van Onselen is Chief Economist at the MB Fund and MB Super. He is also a co-founder of MacroBusiness. Leith has previously worked at the Australian Treasury, Victorian Treasury and Goldman Sachs.