The 22 Australian suburbs to buy in now, according to a leading real estate CEO John McGrath

The CEO of real estate group McGrath has put together his annual list of 22 suburbs from Tassie to Townsville with potential for a serious buyer. Here, he tells us his top picks.

Sydney and surrounds

Summer Hill/Dulwich Hill

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 Summer Hill and Dulwich Hill precinct a no brainer.

Glebe

The once working-class suburb of Glebe 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.

Millers Point

Millers Point is 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.

Eastlakes

Handily positioned between the airport and the CBD young families should be investigating this suburb.

A vibrant mix of multi-cultural groups resembling Paddington and Surry Hills in the 80s, it offers a mix of both affordable apartments and cottages, allowing upgraders the opportunity to buy a house for under $2 million. Why wouldn’t you.

Bardwell Park

Bordering the prestigious Inner West enclave of Earlwood, this little pocket must be on your shortlist.

If you play golf, it has a course. If you work in the CBD, it’s a few stations away. And if you like a strong long black you can take your pick of emerging cafes.

Long Jetty - Central Coast

This sleepy little beachside village was up until fairly recently ‘somewhat unfashionable’ if you can believe it. Well, those days are over and this little jewel in the crown remains some of the best value on the East Coast. Work from home and commute to Sydney a couple of days a week? Sounds like heaven to me.

Melbourne & Surrounds

Keilor East

Set to get a new train station as a part of the Melbourne Airport Link, this suburb sits within the Essendon Keilor College school zone and is a stone’s throw from the M80 ring road, Highpoint Shopping Centre and vibrant Buckley Street in Essendon.

Keilor East has all the charm and lifestyle of Essendon with a much lower price tag - its median house price is $1,007,550, compared with Essendon’s hefty $1,800,000.

St Kilda East

Just slightly inland from its namesake and arguably more famous beachside suburb, this little hamlet has parks, transport and good schools on its doorstep.

It has more of a suburban feel than its more bustling neighbour, with leafy streets and art deco-style homes and apartment blocks, but it’s just a short tram ride into the heart of St Kilda.

St Kilda East is ideal for investors, downsizers and first home buyers alike.

Glen Waverley

With Monash and Deakin Universities just around the corner and a plethora of restaurants, shops and transport options at its disposal, this eastern suburb doesn’t need to be close to the city.

It also has two train stations - one of which is set to become part of the Suburban Rail Loop - and several bus routes.

Glen Waverley could also be poised to be another job hub for Melbourne, with many businesses and government agencies, including the Department of Education, already calling it home. This suburb is one to watch.

Altona North

With the West Gate Tunnel due for completion in 2025, the west is set to become more connected than ever to the CBD and the rest of Melbourne.

Less pricey than its waterside neighbours to the south, Altona North still boasts lifestyle, with its golf course, Kororoit Creek Trail and multiple sports centres.

It’s also just a short drive to the Scienceworks museum, and Yarraville restaurants and shops, and is only 10km from the city.

Spring Gully - Regional Victoria

With its median house price increasing by 11.5 per cent in the year to June 2024, yet still staying at a relatively affordable $680,000, this suburb on the edge of Bendigo is one to watch.

Closer to Melbourne than the Bendigo CBD and surrounded by greenery, Spring Gully combines the best of

both city and country living.

And the suburb is set for a boom, thanks to plans for a new housing development, school and general store.

Brisbane & Surrounds

Springwood

Springwood is undergoing change as young professionals and families move in, and baby boomers move out.

With the south western suburb boasting convenience, diverse housing options and attractions such as a 36ha conservation park brimming with koalas and swamp wallabies, it is expected to remain popular among buyers.

Forest Lake

Brisbane’s first master planned community when built in the early 1990s, the south western suburb of Forest Lake is now coming into its own.

Centred around a man-made lake, properties here offer more bang for your buck than in the inner city - and people are starting to take notice.

North Ipswich

Located on the Bremer River 40km west of the CBD, the historic suburb of North Ipswich is set to benefit from improved Olympics public transport and infrastructure, including the $30 million North Ipswich Sport and Entertainment Precinct.

It’s also a great place to nab a Queenslander at a fraction of the price you could expect to pay closer to town.

Caloundra West - Sunshine Coast

Caloundra West has long played second fiddle to the neighbouring and arguably more glamourous seaside suburb of Caloundra.

This is now changing, as Sunshine Coast buyers take an interest in Caloundra West’s less expensive housing.

What’s more, the suburb’s location close to the coast, and the new Stockland Aura development, makes it an appealing lifestyle choice.

Townsville - North Queensland

Savvy sea changers are snapping up properties in this surprisingly cosmopolitan city, which offers hatted restaurants, a growing number of breweries and distilleries and gorgeous beaches.

Prices are still on the lower side compared to many other parts of Queensland and gross rental yield is among the highest in Queensland, making Townsville a safe bet for both investors and owner occupiers.

Tasmania - Hobart

Kingston

Famous for its beach, this suburb’s location at the gateway to the Southern Outlet motorway means its residents can reach the city centre in just 10 minutes.

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.

North Hobart

Cool and vibrant, North Hobart attracts a hip crowd thanks to its nightlife and trendy eateries.

The predominantly older-style housing stock has been injected with new life recently thanks to luxe developments like The Rox which will lift the suburb’s profile and potentially edge it closer and closer to a $1 million median value.

Launceston

Legana

Although considered to be on the outskirts of Launceston, this quaint semi-rural hub is in fact only a short 15 minute drive into the centre of town, making it perfect for those who want to feel a little removed from the bustle.

What’s more, completion of the 350-place Legana Primary School at the start of the 2025 school year will be sure to attract young families to the suburb.

Devonport

Latrobe

Plenty of land releases and development in the past decade make this semi-rural pocket outside of Devonport a neighborhood to watch.

And if the 9.6 per cent jump in median house prices continue, it could prove a happy investment, particularly for first home buyers who will rejoice at the $581,000 median house value.

Primrose Sands - Regional Tasmania

A tiny seaside hamlet located midway between Hobart and Port Arthur, Primrose Sands has historically been best known for its affordable housing.

It’s now emerging as a gentrifier hotspot with some new private apartment developments lodged with Sorrell Council.

Known for its beautiful beach, the median home value of $500,000 is predicted to take off in coming years.

This story was first published on view.com.au as The 22 Australian suburbs to buy in now, according to a leading real estate name