If 2024 is your year for jumping on the property ladder, it might be worth taking note of the Sydney suburbs that have been identified by experts as the ones to watch in 2024. The main takeaway? Many of the key suburbs are in the Sutherland Shire – so it might be time to start looking south of the city.
Research carried out by PropTrack has analysed buyer interest, available properties and prices, concluding that the suburbs of Woronora, Kareela, Yowie Bay, Illawong and Sylvania Waters have secured their place on Sydney’s “suburbs to watch” list. This means that, while popularity has steadily increased, prices are yet to catch up (meaning the sooner you can snap up a property in one of these spots, the better).
The research suggests that, with buyer interest in the region rising rapidly, house prices could shoot up later in 2024. The rise in demand is reported to have come from a wide range of buyers – with an increase in interest from outside of the Shire.
If you’re interested in investing in property in the north, PropTrack also identified Gordon and Killara (on Sydney’s Upper North Shore) as suburbs to watch in 2024.
The rising interest in suburbs further from the Sydney CBD can be largely pinned to the flexible workplaces made possible as a result of the pandemic, with PropTrack senior economist Paul Ryan describing these suburbs as “lifestyle regions”.
According to PropTrack data, the suburbs to watch in 2024 (those where property prices are set to rise the most significantly) are:
You can learn more about PropTrack’s research into Australia’s property market over here.