Sydney suburbs set to boom in 2024: John McGrath

These are the Sydney suburbs set to enjoy strong home price growth in 2024, according to real estate expert John McGrath.

Sydney, with Brisbane, is leading the East Coast market recovery, but there remain pockets where buyers can get “great value” before the prices rebound again, property tycoon John McGrath claims.

Some of these areas offered a mix of seclusion and easy access to amenities, while others were getting increasingly popular with new arrivals from overseas, the McGrath Estate Agents founder said.

Some of his top picks for buyers were western suburb Fairfield, Gordon on the north shore, Glenorie in the far northwest of Sydney and coastal suburbs Chifley and Curl Curl.

He added that buyers needed to be “brave” in the current market considering looming economic uncertainty and high affordability barriers.

“All of this global uncertainty reminds me a lot of the immediate period after the GFC,” he said in the annual McGrath report.

Real estate guru John McGrath. Picture: Julian Andrews

“Most people had a very dark outlook on the world economy back then. But I was advising clients to buy property as soon as they could, and those who did were rewarded in less than 12 months.

“It’s time to be that brave again, in preparation for the next major market upswing. You probably don’t see it coming now, but I know after 40 years in this business that it’s just over the horizon.”

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Mr McGrath said Fairfield would be a good place to buy property for those seeking capital growth because of expanding infrastructure and its appeal with migrants. It remained one of the most affordable suburbs in Sydney.

“Fairfield (is) one of the most multicultural areas in Australia with a vibrant family community,” he said, noting it would also benefit from proposed new train lines and Western Sydney’s economic growth.

Fairfield was set to benefit from new train services. Picture: Damian Shaw

“It’s just a 35 minute drive to the Western Sydney International Airport and Aerotropolis, which will make domestic and international travel more easily accessible and provide a major new employment hub for locals when it opens in 2026.”

Mr McGrath said migration, especially from China, would be a significant factor in driving up home prices in Sydney.

“Migrants tend to rent first but with Sydney’s vacancy rate barely above 1.4 per cent, it is likely new arrivals are fast-tracking their first home purchases,” he said.

McGrath’s provided his reasoning for the other suburbs he flagged as offering value in the latest McGrath report:

GORDON

If wide treelined streets and Federation homes take your fancy, Gordon is a fine choice for

aspirational family living. Access to great schools, both public and private, is a key reason why people move here. Buyers will find better value in Gordon than Killara, whilst still in the school catchment.

Gordon has a large professional community and its own shopping village and train station, enabling an easy 30-minute commute to the CBD.

GLENORIE

This small, tranquil suburb with its relaxed semi rural lifestyle is just 44km from the CBD,

and with close proximity to major shopping hubs at Castle Hill, Rouse Hill and Hornsby.

A family dominated suburb with virtually no apartments, the median house price has almost doubled since 2020.

Acreages remain popular and Glenorie is one of the most popular areas to buy them.

Residents live in large forever-style houses on generous acreages that allow for horse stables and paddocks, pools and tennis courts. This is an equestrian-loving community with Glenorie Horse & Pony Club hosting many rallies, dressage competitions and show riding events.

CURL CURL

‘Curly’, as it’s called by the locals, is a secluded suburb offering the best of the northern beaches without the hustle and bustle of its larger neighbours, Dee Why and Manly.

With a long stretch of white sandy beach and many wide open grassy spaces, locals love surfing, swimming, picnicking, fishing and strolling the coastal paths.

Curl Curl, an established surf beach, had flown under the radar compared to other beaches, Mr McGrath said. Picture: David Swift

Several streets traverse majestic rocky clifftops where the area’s best homes capture vast ocean panoramas. Houses here command a premium, with the median price now on par with Sydney’s iconic Bondi Beach today.

CHIFLEY

Still under the radar, Chifley sits next to the beach suburb of Malabar just 14km from the CBD. An ideal area for people who love the great outdoors without the premium price tag.

Chifley has easy access to several beautiful local beaches, big 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.

There is also a much higher-than-average number of semis and townhouses in Chifley, providing more affordable options for buyers.

Originally published as Sydney suburbs set to boom in 2024: John McGrath