Add CategorySeven prime Sydney locations have been flying under the radar of home seekers for years and now offer the best opportunities to buy a home this spring, property tycoon John McGrath has revealed.
The areas included inner west suburbs Glebe, Dulwich Hill and Summer Hill, inner suburb Millers Point, Bardwell Park in the St George area, and Eastlakes in the southeast.
Long Jetty, on The Central Coast, was also included in the buyer shortlist contained in an industry report released by McGrath Estate Agents this weekend.
McGrath, one of the country’s most successful real estate entrepreneurs, claimed these areas had a good balance of lifestyle, value for money and value growth prospects.
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Auctioneer John McGrath calls bids at a Lilyfield auction April 1, 2023. Picture: McGrath Estate Agents/NSW real estate.
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They also appealed to the three buyer groups driving strong demand for Sydney houses: Baby Boomers and other cash buyers, first homebuyers and investors.
He said Eastlakes, 7km south of the CBD, resembled Paddington and Surry Hills in the 1980s.
This was right before those areas went through a large-scale gentrification process that pushed up home values and turned the locations into some of the most sought after suburbs.
“Handily positioned between the airport and the CBD, young families should be investigating (Eastlakes),” Mr McGrath said.
“It offers a mix of both affordable apartments and cottages, allowing upgraders the opportunity to buy a house for under $2m.”
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Dulwich Hill has the potential to become a lot more popular, McGrath says. Picture by Max Mason-Hubers
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Millers Point was flagged as a good opportunity for buyers because of the new metro line and nearby Barangaroo Station.
“An unbeatable spot with easy access to city life. It’s a short stroll to the Barangaroo precinct and the new Metro station, or the bustling charm of The Rocks.
“The area has gentrified with the transformation of many heritage terraces with stunning harbour views. Subdued price growth during the Covid years has created good buying opportunities today.”
Mr McGrath described suburbs Summer Hill and Dulwich Hill as “sleeper” villages.
“As the Inner West gets groovier and groovier, and the Light Rail makes it a short tram ride into the CBD you can no longer resist the attractiveness of these little sleeper villages. Some of the best coffee in Sydney makes this cool precinct a no-brainer.”
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Long Jetty homes were good value, McGrath said.
He made similar comments about Glebe.
“This once working-class suburb on the edge of the CBD seems to have slipped under the radar by most. Can’t fathom why.
“A five minute stroll to the city, Sydney University, UTS, Darling Harbour and Broadway Retail. What more do you need to realise this sleeping giant is about to awaken.”
Bardwell Park offered value with a location on the fringe of the inner west but with cheaper prices.
Central Coast Long Jetty was going through something of an awakening, Mr McGrath said.
“This sleepy little beachside village was up until fairly recently ‘somewhat unfashionable’,” he said.
“Those days are over and this little jewel in the crown remains some of the best value on the East Coast.”
MELBOURNE SUBURBS SET TO BOOM IN 2025
In Melbourne, McGrath likes Keilor East, noting that the suburb has the charm and lifestyle of Essendon, with “a much lower price tag”.
![12 Collins Close, Keilor East - for herald sun real estate](data:image/svg+xml,%3Csvg xmlns="http://www.w3.org/2000/svg" viewBox="0 0 1024 768"%3E%3C/svg%3E)
Charm and lifestyle – Keilor East
“Set to get a new train station as part of the Melbourne Airport Link, this suburb sits within the Essendon Keilor College school zone and is a stone’s throw from the M89 ring road, Highpoint Shopping Centre and vibrant Buckley Street,” he said.
See the full list of Melbourne and VIC suburbs
QUEENSLAND SUBURBS SET TO BOOM IN 2025
In Brisbane, a surge of young professional and families moving into Springwood has this suburb poised for growth as older generations move out.
“Springwood is undergoing change,” McGrath said. “(It boasts) convenience, diverse housing options and a 36ha conservation park brimming with koalas and swamp wallabies.”
Further north, McGrath also sees plenty of potential for Townsville, which he says has become “cosmopolitan” in recent times.
Townsville – plenty of potential.
The city “offers hatted restaurants, a growing number of breweries and distilleries and gorgeous beaches,” McGrath said. “Prices are still on the lower side … gross rental yield is among the highest in Queensland.
See the full list of QLD suburbs set to boom in 2025
TASMANIAN SUBURBS SET TO BOOM IN 2025
Departing the mainland, McGrath has included some Tasmanian hotspots in his 2025 predictions.
He believes Kingston is a suburb with great potential.
“Its location at the gateway to the Southern Outlet motorway means residents can reach the (Hobart) city centre in just 10 minutes,” McGrath said.
“With a huge amount of land still available for development and talk that it could be the location of a performance centre for Tasmania’s new AFL club, Kingston is an area primed for growth.
Primrose Sands. Tasmania’s ‘gentrifier hotspot’. Picture: Supplied
Outside the capital, McGrath named Primrose Sands, a small seaside village to the east, as a “gentrifier hotspot” with a number of apartment projects in the works and a historically affordable house median of $50-0,000 primed for growth in coming years.