Douglas Driscoll, CEO of Starr Partners, shares his top 10 Sydney suburbs to look out for in 2019.
Mr Driscoll’s 10 suburbs to watch in 2019 are located around Sydney’s Inner West, North West, Northern Beaches and Eastern Suburbs.
First on the list, Everleigh, located next to Redfern and is predicted to become Australia’s Silicon Valley, is in Mr Driscoll’s eyes “a hip inner-city suburb” to watch out for.
“If the house price growth in San Francisco’s tech epicentre is anything to go by, the new technology and innovation project, which will bring more jobs and start-ups to the area, will in turn raise Eveleigh’s prices,” Mr Driscoll said.
“With lots of new apartment developments, the Carriageworks arts centre, cafes, good public transport, and only a short walk to the city, Surry Hills and Newtown, Eveleigh is the ideal suburb for young professionals, hipsters and young families.”
For Mr Driscoll, Waterloo is the next suburb to be Sydney’s “reborn residential hotspot” due to additional new apartments, being close to parks, the airport and the Sydney CBD.
“Danks Street is buzzing with galleries, shops and a booming dining scene,” Mr Driscoll said.
“A metro line is being discussed, but Green Square and a bus network provide public transport options.”
Despite negative hype painted through documentaries, Mr Driscoll sees Maroubra as “nowhere near as menacing as its fictitious reputation”.
“It still offers relatively affordable prices compared with Sydney’s Eastern Beaches. As it continues to gentrify, Maroubra, like Bondi and Coogee, will continue to grow as a sought-after beachside suburb,” the CEO said.
With living next to a beach an Australian ideal, Mr Driscoll pointed out Brookvale as a suburb with average house prices at least $150,000 less than those in nearby Dee Why and Allambie Heights.
“A master plan to turn Brookvale into a vibrant precinct is on the cards, which will add bars, cafes and restaurants as well as residential opportunities to the area,” Mr Driscoll said.
“Adding to the infrastructure is the B-line bus network connecting residents to the city, the recently opened Northern Beaches Hospital and the planned Beaches Link.
“The Northern Beaches has often been viewed as a fickle market, but for the here and now, it is in demand — and becoming more popular.”
5. Baulkham Hills
While some might balk at Baulkham Hills over nearby Castle Hill and Bella Vista, Mr Driscoll said that Baulkham Hills is undergoing gentrification and finding its own identity, and it is proving to be particularly attractive to investors.
“Only 20 per cent of the suburb is rented, which is good news for owner-occupiers; it also means the market is not oversaturated for investors,” Mr Driscoll said.
“While we have already seen investor activity in the area, the multibillion-dollar Sydney Metro Northwest rail line, set to open early next year, will cause a ripple effect in Baulkham Hills.
“With the new train station, ample buses and M2 Motorway off-ramp, transport links are not hard to come by.”
Once thought of in the middle of western Sydney, Auburn is now considered to be inner west, with its status as a “cultural melting pot” a major highlight.
“The family-owned restaurants offering a range of cuisines is a foodie drawcard, and nature lovers can take a stroll through the Botanical Gardens. Better yet, properties are cheaper than those in neighbouring suburbs such as Lidcombe and Strathfield,” Mr Driscoll said.
7. Millers Point
Millers Point is an area that Mr Driscoll predicts will see success in 2019 that is in a prime location yet is “surprisingly” quiet.
“Following the completion of the controversial sell-off of public housing, I do believe a sense of community will continue to grow in this suburb,” the CEO said.
“This suburb is the next Surry Hills or Paddington; it has heritage terraces, lively pubs and a strong community feel.
“With change happening all along that part of the harbour foreshore, Millers Point will continue to grow in popularity.”
8. Castle Cove
Mr Driscoll dubbed Castle Cove as “one of Sydney’s best kept secrets”, which is situated on the foreshore of middle harbour.
“Although properties are tightly held, most are detached, on decent plots and have elevated views — some of the most interesting in Sydney,” the CEO said.
“Despite being only 10 kilometres from the CBD, Castle Cove is leafy, green and well connected by bus. Its charm is that it does not have major supermarkets and shopping centres, but residents have an abundance of great eateries, cafes and grocery stores.
“With a public school and a golf course, Castle Cove is solitude without isolation.”
9. Breakfast Point
Coupled with harbuorside walking tracks and hipster cafes, Mr Driscoll calls Breakfast Point a “trendy inner west suburb” comparable to a beach lifestyle.
“Once a gasworks, there are now a lot of well-designed master-planned communities, which makes it attractive for young families and people downsizing,” Mr Driscoll said.
“A direct bus line takes commuters to the Sydney CBD, or they can catch a ferry from nearby Cabarita wharf.”
Wrapping up the list was Riverstone, a suburb that has been on Mr Driscoll’s list for a while and was dubbed by him as a “slow burner”.
“Billions have been spent in the area on master-planned developments and infrastructure projects, and the metamorphosis is set to continue,” Mr Driscoll said.
“Blacktown City Council recently announced strategic plans for a new town centre, retail and commercial developments, and public spaces.”