A leading real estate expert has identified his top picks for suburbs to buy into over the coming 12 months.
John McGrath, executive director of real estate agency McGrath, believes Millers Point in Sydney is “about to explode”.
“With the top end of the town as one neighbour, Barangaroo as another and Sydney Harbour at your door it is the best located suburb in the country,” he said.
In addition, he identified Concord as an area “on the move”.
“Whilst prices are no longer the obvious value they were a few years ago, they’re still well short of where they will be in the next 10,” he said.
In Queensland, Mr McGrath pointed to Newtown in Toowoomba as an area to watch.
“Less than two kilometres west of the Toowoomba CBD, Newtown is an affordable hotspot undergoing change as more young couples and families move in and renovate,” he said.
He also identified Brisbane’s Helensvale as a “sleeping giant” due to its prime location near the CBD and the Gold Coast.
In Canberra, Mr McGrath favoured Crace, a new neighbourhood popular with families.
“Crace is Australia’s fastest-growing housing market according to the Housing Industry Association, based on the value of new home approvals and population growth,” he said.
The ACT's Ainslie and Turner also made his list of top suburbs.
“Moss Vale is a 10-minute drive south of Bowral and offers better value but the same lifestyle.”