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Property market predictions for next year are starting to flood in – and there are five suburbs where prices could soar.
John McGrath, founder of McGrath Estate Agents has identified his top picks for 2017, with five of these suburbs located in Sydney, dismissing claims that Australia’s two largest cities are in trouble.
“People ask me if I think Sydney and Melbourne are overvalued off the recent cycle uplift. But my honest view is that Sydney and Melbourne are the ‘New Yorks of Australia’ and will be in huge demand as far into the distance as I can possibly see,” he said.
“In fact, with several billion people on the doorstep of this lucky country, many with a huge appetite to enjoy the lifestyle that we have, it would be far easier to mount a sensible argument that both the big cities will look incredibly cheap as we look back in a decade or so. That is assuming that we manage our growth well and find a way to sensibly welcome immigrants and overseas investors into the country.”
Mr McGrath’s top 2017 investment property picks for Sydney and his rationale are below.
“Once an average suburban precinct best known for its equine interests; Canterbury is fast becoming an inner-west bolthole attracting young families and professionals alike. Buy, sit and watch your asset grow in value.”
“We still can’t work out why the values here for some of the country’s best real estate are materially below her peers in the east and north? This attractive garden enclave is private and discreet with beautiful homes and perfumed gardens. If you want to see some of the best homes in the country, you better check it out.”
“Follow the money. At the minute it’s all heading to the north west ahead of the soon-to-be-completed new rail line. The surrounding areas are equally as attractive for both lifestyle and capital growth but the Rouse Hill Town Centre is worth seeing for that address alone.”
Sans Souci/Dolls Point
“Surrounded by water and with all the appeal and benefits of Sydney’s southern suburbs yet only minutes to the Bay, airport and CBD. Leaves little doubt that this area will continue to be one of the most desirable in Sydney.”
“This has been a favourite suburb for several years now. If you crossed the leafy north shore with the vibrant northern beaches, Forestville would be the outcome. Relatively easy access to the CBD, just seven minutes to the surf and surrounded by trees, it’s ideal for homemakers.”