The Rocks head John McGrath’s top five Sydney picks
Chief executive officer of McGrath estate agents John McGrath has outlined his top five picks for the Sydney housing market.
In the McGrath Report 2015 he said properties in Sydney suburbs such as Kensington, Curl Curl, Parramatta, Engadine and The Rocks are looking safe.
The Rocks
"As a shift in the housing stock moves from Government owned to private dwelling there is bound to be a massive upgrade to these beautiful harbourside Georgian and Victorian homes. Plus a significant change in local amenity that usually follows such upgrades. With the recently opened Barangaroo Point park, a 5 minute walk to the CBD & Barangaroo commercial precinct, this is fast becoming one of the most fashionable addresses in Sydney," he said.
Kensington
"With the recent surging interest from overseas buyers Kenso will become one of the main beneficiaries due to the University campus around which the suburb has evolved. And the upcoming light rail which will whisk residents in & out of the City & to the mighty sporting facilities of Moore park & Royal Randwick, your investment is looking safe in this university suburb," he said.
Curl Curl
"While the Sydney recovery is still more heavily focused on the Inner Ring suburbs, the gorgeous Northern Beaches lifestyle is attracting great attention from the water babies looking for better value than the East. We like Curl Curl with it’s intimate positioning by the sand and relatively easy access to the CBD compared to some of her further north sister suburbs. Not only will you live longer with a Curl Curl address but you’ll outperform the Sydney market by many percentage points in the next decade," he said.
Parramatta
"There are two key reasons Parramatta is a must-have in this year’s report. First, the commercial and infrastructure activities in and around Parramatta are leaving much of Sydney in their wake with many smart companies choosing to re-locate closer to their employees in what is now the heart of Sydney. The second reason is the activation of the river which has for many years been a forgotten waterway. Opportunities are starting to emerge to build quality medium density riverside dwellings over the next few years which will establish new pricing benchmarks. So for investors and home owners alike, head west to get a piece of this golden lifestyle," he said.
"The Shire and great living have been closely aligned for many generations as the locals know only too well. But as the surf-side suburbs shoot north in price and young homeowners look to secure a piece of God’s country, areas like Engadine offer great land size at an affordable entry point. So if a 600 square metre block is still on your “must have” list and your budget is under $750,000 pop Engadine into your search engine and find sensible value you couldn’t spot elsewhere," he said.
