John McGrath's Best Suburb Selections for 2024: Where to Invest Next
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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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Hotel experience at home in Castle Hill

A new development in the Hills District sets a new standard in buyer expectations

By KANEBRIDGE NEWS
Wed, May 22, 2024 3 min

Castle Hill is set to be home to a new hotel-like development, with the announcement that the 94-apartment Astrid site is just weeks away from completion.

While the penthouse apartments across the two buildings have already been snapped up, there are still one, two and three-bedroom residences on offer. The development comes with a gold star iCIRT rating, guaranteeing it has met quality construction standards. The iCIRT rating system has been developed by Equifax in partnership with government, industry and market and rates projects from one to five stars following a rigorous and independent review process.

Steve Harb from developer CBD Core, said it’s the best indicator would-be buyers could have that their investment is safe.

“The iCIRT rating gives people the assurance that we’re trustworthy and have integrity as a developer,” he says. “Our service is complete from start to finish, from developer to builder. 

“As a buyer, you have one point of contact, there’s no shifting responsibility or passing the buck so if anyone has an issue, it can be sorted out as soon as possible.”

He said Astrid has proved popular with locals interested in upgrading without leaving the convenience and amenity of the Hills District. Surrounded by some of the best restaurants, clubs and recreational facilities in the area, it is also just six minutes’ walk to the new Metro station and a seven-minute drive to Castle Towers Shopping Centre. Schools and tertiary education options are also within an easy drive. In addition to some of the best parks and reserves in Sydney, it’s an attractive option for families on the move.

Mr Harb said the concept for the development, as with all his projects, was to create a hotel-like environment.

“I only do boutique projects and when I say ‘boutique’, I mean hotels without the concierge,” he says. “The quality and integrity is built into it.”

The infinity edge pool is surrounded by leafy gardens in a resort-style environment.

Leisure facilities include rooftop gardens and entertaining spaces as well as a fully equipped gym on the ground floor overlooking an infinity edge pool surrounded by lush landscaped gardens. Mr Harb says beautiful landscaping is a signature of all his developments.

“I have lived in the Hills District for more than 15 years and the reason I live here is because I love the leafy environment, the greenery,” he says. “I always like to emphasise that in my developments with strong landscaping.”

WORK FROM HOME HUB

Recognising the ongoing desire to adopt a hybrid working model, Astrid provides a dedicated on-site working environment suitable for exclusive use by residents needing focused work time, as well as those seeking professional meeting rooms to receive clients, with wifi enabled work desks, as well as more casual seating. 

Mr Harb said the pandemic taught him that, while working from home was convenient, having breakout spaces within a wider residential development was highly attractive.

“You’re not stuck looking at the same four walls,” he says. “The shared work space at Astrid has comfortable lounges, chairs, coffee tables and more than a dozen cubicles,” he says. “It’s more like going into a meeting room in a hotel.”

The apartments are characterised by light-filled interiors.

IN RESIDENCE

The apartments are light-filled living spaces with seamless access to balconies, through to integrated joinery secreting storage. Finishes have been chosen to last, from the Michael Angelo Quartz benchtop and Char Oak Polytec Ravine joinery in the kitchen to the stone splashback and custom-made joinery in the bathroom.

Access throughout the buildings is via a swipe card, providing a secure environment. 

For more information, see Astrid Castle Hill.

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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