Looking to dive into the bustling real estate market of Sydney, NSW? With its dynamic economy, rich cultural tapestry, and breathtaking scenery, Sydney beckons property investors with promises of prosperity. Although Sydney is Australia’s most expensive city, there are still many suburbs where experts expect significant capital growth in 2024.
Our forecast considers factors like infrastructure development, affordability, and the pulse of the market to ensure you are not just buying property but investing wisely in your future. Whether you are a seasoned investor or dipping your toes into the property market for the first time, these suburbs promise to be the cornerstone of your investment portfolio in New South Wales.
Start Building Your Wealth Today! Discover the best of the best suburbs to Invest in Sydney 2024 with Dhursan Construction! Here are the top 12 neighbourhoods to invest in this year.
Top 12 Suburbs to Invest In Sydney For 2024
- Ashfield
- Balmain
- Bardwell Park
- Coogee
- Glenmore Park
- Kingsford
- Liverpool
- Maroubra
- Marrickville
- Neutral Bay
- Parramatta
- Rozelle
The $5 Billion WestInvest Program: Transforming Western Sydney
According to the NSW Government, the 2022 launched WestInvest Program, valued at $5 billion, will provide funding for groundbreaking infrastructure projects throughout Western Sydney. This region is known for its rapid population growth and diverse community, making it one of the nation’s most vibrant and dynamic areas. The program aims to support and drive transformative initiatives that will shape the future of Western Sydney.
The allocation of the $5 billion funding will be distributed in the following manner:
- $2 billion will be designated for Community Project Grants:
-Local Government Allocation: Approximately $400 million will be directly allocated to the 15 eligible local councils in Western Sydney.
-Competitive Round: Approximately $1.6 billion will be available through a competitive community grants program. - An additional $3 billion is reserved for NSW Government agencies to implement transformative projects that will bring significant benefits to local communities.
Now, let’s take a closer look at the 12 top suburbs to invest in Sydney in 2024. By examining each suburb closely, we can understand their unique qualities and investment prospects, helping us make informed decisions and benefit from Sydney’s promising future!
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Ashfield
Nestled 8 kilometres south-west of Sydney’s bustling CBD, Ashfield emerges as a promising suburb for investment in 2024. Boasting a population of 23,091 residents and a median income of $2,403 weekly, this vibrant locale presents a compelling opportunity for astute investors. With a commendable Walk Score of 75, Ashfield is deemed ‘very walkable,’ emphasising its accessibility and convenience for residents. Its proximity to essential amenities and public transport hubs enhances its appeal as a desirable living destination.
Ashfield’s architectural landscape is a captivating blend of post-war low-rise apartments, federation-era detached houses, and majestic Victorian buildings, reflecting its rich cultural heritage. These historical structures add a unique charm to the suburb’s ambience, attracting both residents and investors alike. Investors keen on capitalising on Ashfield’s potential will find its diverse housing options and cultural significance enticing. As Sydney property continues to evolve, Ashfield stands out as a suburb poised for sustainable growth and prosperity in the years ahead.
Balmain
Nestled just 5km west of the vibrant Sydney CBD, Balmain stands as an upscale neighbourhood that presents an exceptional investment opportunity in 2024. This charming thoroughfare is home to a delightful array of boutique stores, artisan bakeries, and bustling eateries, making it a hub of culinary delight and entertainment.
With its upscale lifestyle, cultural richness, and excellent walkability, Balmain presents a golden opportunity to invest in Sydney’s thriving real estate market. Don’t miss out on the opportunity to invest in Sydney’s hottest suburbs for 2024! Get in touch with one of the best home builders in Sydney!
Bardwell Park
Bardwell Park, nestled within the vibrant eastern and inner west districts of Sydney, boasts enduring appeal, evidenced by the staggering average of 3,002 visitors per property listing, almost double the state average. Its charm lies not only in its convenient location but also in its diverse community makeup, where established families and couples form a significant portion, adding to its allure as a prime investment destination.”
“With a median house price of $1.4 million and an average rent of $650 per week, Bardwell Park stands as a beacon of stability and potential for investors seeking long-term growth in the property market. Its steady demand and strong rental yields underscore its resilience even amidst changing market dynamics, making it a standout choice for astute investors looking to capitalise on the city’s real estate landscape.
Coogee
Coogee, nestled in the South-East, is poised for substantial growth fueled by upcoming infrastructure initiatives, notably the $2.2 billion South-East Light Rail project. Just 8 kilometres from the CBD, its convenient location is complemented by a thriving community of 14,780 residents with a median income of $3,781 per week. Boasting a commendable Walk Score of 79, Coogee offers excellent accessibility and amenities, making it highly desirable for investors seeking both capital appreciation and rental yields.
Renowned for its pristine beaches, coastal walks, and vibrant cafe scene, Coogee offers a relaxed yet cosmopolitan lifestyle for residents. Despite its desirable location, the suburb’s median house price remains within reach for investors, making it an attractive option. With forecasted capital growth and strong rental demand, Coogee stands out as one of the top suburbs to invest in Sydney in 2024, offering both lifestyle and investment potential.
Glenmore Park
Nestled amidst serene landscapes and boasting a vibrant community atmosphere, Glenmore Park beckons families with its blend of urban conveniences and natural beauty. Its well-planned neighbourhoods offer an array of amenities, including schools, parks, and recreational facilities, catering to the diverse needs of residents. In 2024, Glenmore Park emerges as a promising contender for families seeking value in NSW’s real estate landscape.
Despite a slight dip of 2.4% in its median property price, which now stands at $1 million, Glenmore Park retains its allure as an attractive investment destination. With its strategic location providing easy access to major employment hubs and transportation networks, Glenmore Park presents an ideal setting for both homeowners and investors alike. As the suburb continues to evolve and expand, opportunities for growth and capital appreciation abound, making it a prudent choice for those looking to secure their future in this dynamic property market.
Kingsford
Kingsford, nestled 7km southeast of bustling CBD, is an ideal residential suburb ripe for investment. Boasting a population of 13,492, it offers a diverse community landscape. With a median household income of $2,567 weekly, Kingsford presents a promising opportunity for investment properties. Situated directly south of the prestigious University of New South Wales, Kingsford enjoys a vibrant cultural scene along Anzac Parade and Gardners Road.
Furthermore, its proximity, less than 5km, to the picturesque Coogee Beach adds to its allure. Notably, Kingsford stands to gain substantially from the ongoing South-East light rail project, providing a direct link to the heart of Sydney’s CBD. Investors eyeing Sydney suburbs would find Kingsford a compelling choice for its blend of accessibility, and growth potential.
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Liverpool
Positioned in one of the southwest regions, Liverpool emerges as a lucrative investment opportunity with an impressive yield surpassing 4%. Boasting a dynamic community and continuous population growth, this suburb fuels continuous demand, making it an attractive prospect for astute investors. With a median house price of $840,000, Liverpool offers affordability alongside a median individual income of $57,000.
Liverpool’s potential is further amplified by significant infrastructure endeavours such as the Liverpool Health and Education Precinct makeover and proposed upgrades to its metro train stations, promising a bolstered local economy. These developments are anticipated to fortify rental occupancy rates, ensuring robust yields. Moreover, with a projected population surge of 25% by 2036, Liverpool is primed to deliver substantial investor returns through both capital appreciation and steady cash flows in the coming years.
Also, if you are interested in house and land packages near Liverpool. These areas are best suited.
Maroubra
When it comes to identifying the best suburbs in Sydney to invest in, Maroubra shines as an exceptional choice. Positioned just 10km southeast of the Sydney CBD, Maroubra offers a perfect balance between city convenience and a beachside lifestyle. As the largest suburb within the Randwick City Council area in terms of both area and population, Maroubra presents a wealth of investment opportunities. It offers a thriving population of 30,722 residents. With a median household income of $2,871 per week, this beachside suburb presents a prosperous economic landscape for potential investors.
Positioned in the Eastern Suburbs, Maroubra captivates investors with its coastal charm and lifestyle amenities. Renowned for its stunning beaches, coastal walks, and vibrant community atmosphere, Maroubra offers a relaxed yet cosmopolitan lifestyle for residents. The Walk Score of 74 indicates excellent walkability, providing easy access to various indulgences. With a combination of population size and potential for price growth, Maroubra stands as a prime investment opportunity in 2024.
Marrickville
Located just 7km southwest of the Sydney CBD, Marrickville offers a convenient proximity to the city while maintaining its distinct character. As the largest suburb in the inner-west and situated on the northern bank of the Cooks River, it presents a diverse range of investment opportunities. Marrickville is known for its charming Victorian houses, many of which were built in the late 19th century, as well as Federation-style homes from the early 20th century. This makes it an attractive prospect for investors seeking properties with historical charm.
One of the key factors that make Marrickville an enticing investment opportunity is its median income of $2,880 per week. This above-average income level reflects the suburb’s economic prosperity and highlights its potential for long-term financial growth. With a total population of 35,251, Marrickville boasts a thriving community that adds to its vibrant atmosphere.
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Neutral Bay
Positioned just 1.5km north of the Sydney CBD, Neutral Bay offers a highly coveted harbourside location on the Lower North Shore. It falls under the administration of the North Sydney Council and shares its borders with surrounding suburbs such as Cammeray, Milsons Point, and Cremorne. With a total population of 10,181, Neutral Bay presents a close-knit community that contributes to its vibrant atmosphere.
Neutral Bay boasts an impressive median household income of $3,719 per week, signalling its affluent character and economic prosperity. This reflects the suburb’s desirability and potential for long-term financial growth, making it an attractive choice for investors seeking a high-end market. With forecasted capital growth and strong rental demand, Neutral Bay emerges as one of the top suburbs to invest in Sydney in 2024, offering both lifestyle and investment potential.
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Parramatta
In the realm of investment opportunities, Parramatta shines as Sydney’s unrivalled gem for 2024. Positioned as a burgeoning city centre in its own right, Parramatta has cemented its status as the number one investment hotspot in the region. While prices may be higher compared to outer areas, Parramatta’s investment proposition remains compelling. Positioned as a dynamic urban growth zone at the heart of Sydney’s future, it presents a prime prospect for astute investors seeking long-term returns.
The suburb is undergoing a remarkable transformation, with the introduction of new skyscrapers, modern comforts, and extensive transport connections, solidifying its reputation as the “second CBD” of Sydney. The response in home values and vacancy rate has been positive compared to 2023, with houses averaging an impressive $1.61 million and delivering robust yields of approximately 2-3%. The demand for rental properties remains exceptionally high as tenants flock to experience the vibrant lifestyle offered by Parramatta, whether for work, study, or simply to call it home.
Rozelle
Rozelle, situated just 4km west of the Sydney CBD, emerges as a promising suburb for investment in 2024. Nestled in the inner-west, Rozelle is a gentrified residential area that offers a unique blend of convenience and cultural charm. With a total population of 8,567, Rozelle presents a close-knit community that contributes to its vibrant atmosphere.
Rozelle’s median household income of $4,474 per week showcases its affluence and economic prosperity. This above-average income level reflects the suburb’s desirability and the potential for strong growth in the local economy, making it an attractive prospect for investors seeking a thriving market.
2024 Property Market Forecast with Dhursan Construction!
Dhursan Construction stands as your trusted partner in turning your dreams into reality. With our unwavering commitment to quality craftsmanship, attention to detail, and customer satisfaction, we are dedicated to delivering exceptional homes that exceed your expectations. Whether you are looking to invest in Sydney’s top suburbs or build your dream home, our experienced team is ready to guide you every step of the way.
