Property gun John McGrath has named the Sydney suburbs he believes are poised to boom in 2023, despite the downturn and there are a few surprises.
Mr McGrath, CEO of McGrath Real Estate, makes his top picks every year as part of the McGrath report.
The one just out now titled McGrath report 2023 – Chaos Creates Opportunity looks at the post-pandemic property market.
“To me, the most interesting elements of the pandemic wash-up in our market are the reversal of some decades-old trends; the rise of the regions; the renaissance in the way we are living; and that many of us — particularly young Millennials — are no longer necessarily constrained by big city affordability challenges,” Mr McGrath writes.
In an uncertain market, hit hard by rapidly rising interest rates and cost of living concerns, but still rife with possibility, these are Mr McGrath’s top suburb picks in Sydney and regional NSW for 2023.
Forever the bridesmaid, never the bride when it comes to its surrounding suburbs, Edgecliff has shaken its tag as a thoroughfare thanks to a burgeoning set of modern apartments and traditional terraces.
The convenience of the train station makes it an easy commute to the CBD (10 minutes) and the serene surrounds of Trumper Park and nearby Rushcutters Bay Park (your furry friends will thank you for living so close to one of the best dog parks in Sydney with harbour views!) makes this suburb more affordable for young professionals and small families after a taste of the sought-after eastern suburb lifestyle.
MORE: Where Ryan Gosling will stay in Sydney?
RBA’s horror home price plunge prediction
As a riverside suburb tucked away in Sydney’s middle-class heartlands, Oatley has been a well-worn track for tourists looking for a nature based getaway from the usual tourist destinations for years.
But with COVID-19 awakening our appreciation for the outdoors, this suburb of St George is fast becoming home to those who love to see and experience natural bushland.
Convenience is also King with its proximity to the airport, quick access to the CBD by road (hello Eastern Distributor) or rail, making it the perfect place to balance work, and life.
Oh, and did we mention the Oatley Village PieShop — locals highly recommend the Beef Burgundy Pie if you find yourself famished.
This tightly held Northern Beaches suburb offers the ultimate in picturesque family living. Boasting large houses, harbour surrounds and direct access to national park bushland, it is an enviable postcode to occupy if you are a family looking to put down roots.
While some neighbouring suburbs act as a gateway to the CBD and Manly, Balgowlah Heights remains undisturbed, making idyllic memories for kids frolicking from house to house.
Out of the hustle and bustle of Manly but with the benefits of world class beaches and cafes, if you’re lucky enough to get in, you’ll never want to leave.
At the foot of the Bells Line of Road tourist drive to the picturesque Blue Mountains, outdoor adventure is in abundance for the locals of postcode 2754.
Bushwalking trails and strolling through the fresh food markets will become regular weekend activities for homeowners in this suburb.
Considered less historic than its neighbouring suburb, North Richmond’s variety of housing options – from small blocks, long established residential, to large acreages, and new housing estates (Redbank) – offers something for everyone.
If value for money and a slower pace of life within the city is for you, then add this suburb to your list today.
JINDABYNE – REGIONAL NEW SOUTH WALES
If you’re after a tree change that’s a shift change in lifestyle, look no further than Jindabyne. Nestled within the Snowy Monaro, amongst the rolling hills and mountain ranges (including the famous Kosciuszko National Park), this laid back location offers the perfect escape from the hustle and bustle of city life.
Whilst for some, things may feel a little slower, you’ll be sucked in by the locals whose welcomes are so warm you’ll quickly forget those crisp sinter mornings.
Speaking of winter, another upside of being a local is access to Australia’s finest (and endless) snow sports and back- country hiking, while other seasons provide the perfect backdrop for hiking, biking, and water sports.
MORE: $6.6m view into fraudster Melissa Caddick’s home
Bizarre home comforts of our biggest footy stars
Epic ‘Hollywood’ mansion cops $2m discount
Originally published as Real Estate Sydney: John McGrath’s top picks, best suburbs to buy or own in 2023