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John McGrath’s Best Suburb Selections for 2024: Where to Invest Next

A new market cycle is commencing as prices rebound in almost every market this Spring

By Bronwyn Allen
Tue, Oct 24, 2023 10:36amGrey Clock 3 min

Australian property industry veteran, John McGrath says the next major market upswing is “just over the horizon” amid strong auction clearance rates this Spring and rebounding prices in many areas.

Mr McGrath says he expects greater market activity in 2024 as inflation continues to trend down, thereby bringing an end to the fastest interest rate hiking cycle in decades.

McGrath has just released its annual market report, in which Mr McGrath names his top suburb picks for 2024 across the East Coast of Australia and why these areas are poised for price growth.

Kanebridge News profiles 10 of Mr McGrath’s top suburb picks for 2024 below.

Fairfield, Sydney  

Fairfield is one of Australia’s most multicultural communities, making it an attractive place to settle for some of the 715,000 net migrants expected to arrive in Australia over the next two years.

Mr McGrath says the Western Sydney International Airport will create a new local jobs hub when it opens in 2026. He notes that significant medium-density development “has led to affordable homeownership opportunities” for younger buyers, with the median apartment price just $410,000.

 

Chifley, Sydney

Mr McGrath says Chifley offers a great outdoorsy lifestyle with close proximity to national parks and reserves, walking trails, sports fields, an equestrian club and several golf clubs.

“The neighbourhood has had a facelift in recent years, with young family buyers replacing original houses with new, contemporary residences,” he says. “There is also a much higher-than-average number of semis and townhouses in Chifley, providing more affordable options for buyers.”

 

Point Cook, Melbourne  

Point Cook is a well-established suburb that is packed with amenities and offers great value, with a median house price of $760,000, according to Mr McGrath.

“Prices have remained resilient during the recent downturn, and rents have grown strongly in the past year,” he said. “The suburb … has a good mix of housing stock and its proximity to the water is a big drawcard for residents.”

 

Spotswood, Melbourne  

Spotswood has flown under the radar in the shadow of neighbouring hotspots Seddon and Yarraville, says Mr McGrath.

He points out that Spotswood has a solid track record of price growth and “strong growth fundamentals” for the future, including an expanding dining scene and good road and rail links.

 

Mansfield, regional Victoria

Mansfield was an extremely popular treechange destination during the pandemic, when many people left Melbourne and moved to the regions because they were able to work remotely.

Mr McGrath says there is still room for Mansfield home values to grow further, pointing out that “price growth has not yet reached the heights of high country lifestyle locations like Bright”.

 

Clontarf, Brisbane 

Located at the southern end of the Redcliffe Peninsula, Mr McGrath says Clontarf was one of the top growth suburbs in the Moreton Bay region in 2023. He says the suburb is highly desirable among family buyers due to its transport links to Brisbane, sprawling beaches and waterfront parks.

 

Southport, Gold Coast  

Southport offers a more affordable price point but the same attractive lifestyle amenities as Broadbeach, Burleigh Heads and Palm Beach. “The plethora of high rises here makes it an attractive option for those who like to live close to the action,” Mr McGrath says.

 

Coolum Beach, Sunshine Coast

Mr McGrath says Coolum Beach is known for some of the most consistent waves for surfers on the coast. He says the suburb is popular with family buyers and couples and sits in a central location within an easy drive of Sunshine Coast Airport and only 20 minutes south of Noosa Heads.

 

Moonah, Hobart

About 5km north of Hobart’s city centre, Mr McGrath says Moonah is “an up-and-coming suburb where you can still find houses for less than $650,000.”

He adds: “Its affordability and wide quiet streets make it a magnet for young families, as well as those buying their first home. Another drawcard is its thriving food scene clustered around Main Road, with renowned restaurants like St Albi.”

 

Riverside, Launceston 

On the banks of the Tamar River about 4km from the CBD, Riverside is appealing to family buyers due to its proximity to the city and four local schools.

Mr McGrath says the Riverside market provides the opportunity to buy homes with water views, or homes on larger parcels of land a bit further out where many residents keep horses and chickens.

 



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11 ACRES ROAD, KELLYVILLE, NSW

This stylish family home combines a classic palette and finishes with a flexible floorplan

35 North Street Windsor

Just 55 minutes from Sydney, make this your creative getaway located in the majestic Hawkesbury region.

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Mon, Oct 7, 2024 6 min

From the Spring 2024 issue of Kanebridge Quarterly. Order your copy here.

Clinton Cole is what you might call the thinking person’s architect. While most people looking to build or renovate are understandably focused primarily on budget and aesthetics, the motivations of his clients tend to run to deeper roots.

Take, for example, this house in the Sydney suburb of Manly.

With uninterrupted ocean views in one direction and national park in the other, the temptation for the owners was to do as their neighbours had done and build a multi-storey mansion that directed all attention to the water.

An extraordinary site with almost endless possibilities, it sits on a larger parcel of land owned by the Catholic Church and sold as a longhold lease. When the owners bought the lease, there was a small 1960s cottage on the site that was inadequate for the needs of the family of four. Its position sandwiched between bushland and the surf also meant it is within a wildlife corridor and bushfire risk zone.

The clients, who are originally from Austria, wanted a home that would not only take in the ocean view, but make them and their tween-age daughters feel a part of the natural environment, all with an overlay of luxury.

They were also interested — very interested — in making the house as environmentally sustainable as possible, both in its construction and its ongoing functioning.

So when they discussed the brief with Cole, director of CplusC Architects + Builders, rather than talk about bedrooms and bathrooms or European appliances, they expressed how they wanted to experience spaces.

“They’re outdoorsy — it’s kayaks, bikes, paddle boards, bushwalking,” Cole says. “They talked about, at that first meeting, how they really loved the experience of walking through a shallow creek, the canopy of the trees hovering over the creek, that dappled light and the light reflecting off the water and how beautiful that was. I said: great, there’s your concept.”

The little cottage had to go. In its stead, Cole conceived a three-storey, four-bedroom house with study, a spacious eat-in kitchen packed with integrated storage and multiple living areas, including a rumpus room, of sorts.

“They talked about it more as an art room or entertainment room, but the entertainment was more just listening to music and occasionally watching TV,” says Cole.

“It was really a room for doing craft and art — a very craft-driven, rather than an entertainment-driven, rumpus room.”

The site enjoys incredibly views over Manly.

A lower ground garage next to the entry and partially dug into the site provides storage for the family EV, as well as e-scooters, e-bikes, surfboards and two storage batteries to make maximum use of the energy generated from the 66 solar panel, 24.5kw system.

“Initially they only had one battery but they were gifting so much power to the grid that he said, ‘now I’m getting two’.

“They don’t pay a power bill,” says Cole. “There’s also a 15,000L rainwater storage underground next to the pool.”

Key to the concept was the indoor and outdoor spaces becoming one, allowing for abundant natural light and optimum but controlled air flow, as well as a family pool that relies on natural processes for filtration.

“It’s a natural pool so there’s no chlorine,” he says. “There’s frogs and fish in the pool.

“The frogs are having the time of their lives, as are the bandicoots — the site is in a bandicoot corridor as well.”

Placing the pool alongside the living areas — pool fencing regulations notwithstanding — was not just about providing somewhere for the clients to swim, and even fish, when the mood takes them.

“This was an opportunity (to create a space) where they described that dappled light and that feeling of walking up against the flow of a creek,” says Cole. “It was just obvious to put a body of water as the outlook (for the house), and have it on the north side.

“Then you get light dancing on the ceilings and refracting through glass at all different times of year.”

The natural pool is a haven for local wildlife, including bandicoots, birds and frogs.

That desire to refract light also influenced the decision to install coloured glass in the double height living space, creating dynamic interiors that change with the passing of the sun over the day. It reiterates Cole’s position that how you live in your home day to day is often not about the most obvious view.

“Views are great when you walk into a house when you buy it but as time goes on, it’s less important,” he says. “I think Harry Seidler made me aware of this when he designed his own house. He designed his dining room table so he and his wife sat at the pointy end of the table and all the guests sat around looking out to the view.”

After researching the options, they chose to pour the slab using a low carbon concrete called Envisia, by Boral.

“It has about 30 percent of the embodied carbon of normal concrete and it doesn’t cost any more,” he says. “It also has a higher plasticity and a longer curing time. The higher plasticity is beneficial in terms of its slightly better waterproofing qualities.”

Because his team were also responsible for constructing the house, once the foundations were laid, the rest of the house was built from timber.

“We are a carpentry-based team so our workers have those skills to erect structures of that nature — and you can’t get a lower embodied energy than timber,” he says.

The initial plan was to demolish the old cottage and deal with the materials on site, but after careful consideration, it was decided it was not a feasible option.

“The plan was to crush that little house up, crush up the rock that was on the site and then use that for the walls of the landscaping, retaining walls and the garage wall below,” says Cole. “It turned out that retaining that onsite and getting the crusher to do that was about $50k. The (owners) did consider it but if we brought in crushed material, it was about $5k.

“It was a beautiful idea of doing it onsite but the practicalities of storing it and bringing in this 50 tonne crusher didn’t add up.”

Thanks to its position next to national park, the house was also subject to a Bushfire Attack Level (BAL) of 29. While not the highest rating, it meant that all external timbers had to be fire resistant hardwoods.

Choosing to take a wholly sustainable approach came with a higher price tag but not only were the clients willing to pay, they fully understood why they were doing it. Now retired, one of the owners is a former member of the executive team of a global software company that prides itself on achieving a high level of corporate responsibility and he carried that ethos of ESG into this project.

Cole says the clients were intentionally engaged in every aspect of the design and build process, which resulted in more than 30,000 emails being exchanged over the course of the two-year project to nut out the details.

“It meant there was no room for confusion,” says Cole.

Managing light was a key element in this project, with the owners taking close interest in the exact colour of the glass.

While Cole admits it’s one of the toughest projects he has worked on, he says it has also been the most satisfying, creating opportunities to explore ideas and methods and refine notions about sustainable design and building practices.

“It’s as close as we have ever come to getting everything right, because we were pushed by the client, to be honest,” he says. “We had the time and we were allowed to do the research to get it to this point. Even if it cost more, even if there was a supply issue, we were able to provide the client with an informed choice.”

While the house looks and feels like an extension of the environment as it transitions from bushland to sand and surf, it’s every inch a luxurious environment. Perhaps because of the owner’s tech background, the house has been fully automated, from thumbprint entry and touch free lighting to thermal monitors and sensors to control plant watering. Other aspects are decidedly low tech and old school, like carefully placed louvred windows to manage sea breezes and the built-in thermal mass that naturally regulates heating and cooling. Additional temperature control is via a hydronic system embedded in the slab using heat pump technology.

Cole says, with the right approach, it is possible to create a home that is both sustainable and luxurious.

“There’s not many clients who can put luxury and sustainability together,” he says. “Most people think it’s either/or. The architectural industry itself has historically promoted big expensive houses where sustainability is absolutely unimportant. That’s what they think luxury is — and it’s not luxury.”

MOST POPULAR
11 ACRES ROAD, KELLYVILLE, NSW

This stylish family home combines a classic palette and finishes with a flexible floorplan

35 North Street Windsor

Just 55 minutes from Sydney, make this your creative getaway located in the majestic Hawkesbury region.

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