{"id":29887,"date":"2021-01-04T11:24:27","date_gmt":"2021-01-03T22:24:27","guid":{"rendered":"https:\/\/propertynoise.co.nz\/au\/?p=29887"},"modified":"2021-01-04T11:24:27","modified_gmt":"2021-01-03T22:24:27","slug":"top-residential-property-hotspots-in-2021","status":"publish","type":"post","link":"https:\/\/propertynoise.co.nz\/au\/top-residential-property-hotspots-in-2021\/","title":{"rendered":"Top residential property hotspots in 2021"},"content":{"rendered":"

PHOTO: Property Hotspots<\/strong><\/p>\n

The COVID-19 pandemic has triggered major changes on the way many Australians work and live, and experts believe these will have a profound impact on the future of the housing market<\/a>. The disruption caused by the outbreak has already prompted many to re-evaluate their priorities and make new choices on their future homes.<\/p>\n

Recently, McGrath Estates Agents released\u00a0The McGrath Report 2021<\/a>\u00a0focusing on the question: \u201cHas COVID-19 changed real estate forever?\u201d The report examines the pandemic\u2019s influence on Australians\u2019 housing preference and how this may affect the overall residential property market. It also highlights the top suburbs in the country\u2019s east coast that are tipped to be the next residential hotspots.<\/p>\n

Are Australians moving away from city limits?<\/h2>\n

One of the biggest changes the pandemic has brought is the sudden shift to remote work. While restrictions have eased and people are gradually going back to the office, the report says many \u201cwill never return to a full-time centralised work environment again \u2013 at least, not five days a week\u201d \u2013 and this will have a major impact on where Australians decide to live.<\/p>\n

\u201cTraditionally, millions of people have chosen to live in areas that didn\u2019t necessarily deliver their ideal lifestyle but did provide convenience,\u201d John McGrath, founder and executive director of McGrath Estate Agents, said in the report.<\/p>\n

\u201cIf you had to work in the CBD or a commercial hub and didn\u2019t want to spend hours a day commuting, you had to find a place that was a reasonable drive or on a good public transport route. Then, you\u2019d hope to save enough money to one day buy a getaway \u2013 or wait years until retirement to eventually live where you really wanted to.\u201d<\/p>\n

McGrath added that working from home will allow many Australians to live in an \u201cideal lifestyle location and enjoy an effective work routine without the stress-inducing travel,\u201d which meant many will be looking beyond city limits to find their perfect home.<\/p>\n

Will remote work change how Australians design their homes?<\/h2>\n

The shift to remote work will also have an impact on the design and finishes inside homes, as well as the amenities within strata developments, according to McGrath.<\/p>\n

\u201cAs one or two occupants start working from home, they will feel the need for additional space quickly. Dining room tables are fine for a few hours a week, but permanent change will demand better solutions, such as designated home offices,\u201d he said.<\/p>\n

\u201cThe old-fashioned granny flat will become an object of desire, ideal as a work studio or separate accommodation for multigenerational families. The demand for home gyms will increase, as will yoga \u2013 and maybe even Zoom rooms! Naturally, fast internet speed will become a more important asset than ever before.\u201d<\/p>\n

How will these changes impact the housing market?<\/h2>\n

McGrath believes that the housing market will recover, especially in locations \u201cthat offer people what they want.\u201d<\/p>\n

\u201cWith interest rates approaching zero and many owners having deleveraged in the past few years, I envisage increases in well-located prime residential real estate in major cities and regional lifestyle areas – that is, anywhere near surf, waterways or lots of trees within 90 minutes of the big East Coast cities,\u201d he said.<\/p>\n

Which locations are tipped to become Australia\u2019s next residential hotspots?<\/h2>\n

A combination of competitive house prices, proximity to prime amenities, and opportunities for leisure and recreation boosts a suburb\u2019s appeal to potential home buyers. The following are McGrath\u2019s top picks for the country\u2019s next residential hotspots.<\/p>\n

Homebush (Sydney)<\/h3>\n

Homebush has been \u201cquietly reinventing itself into a prized address in the significantly gentrified inner west,\u201d according to McGrath, adding that it has some of the city\u2019s best eateries. The suburb is home to the Sydney Olympic Park, while the WestConnex tunnel has made travel to and from Sydney a lot quicker.<\/p>\n

Collaroy (Sydney)<\/h3>\n

Collaroy is a coastal suburb 22km northeast of Sydney\u2019s central business district. But because of the recent shift to remote work, McGrath said residents no longer have choose between \u201ca movie star lifestyle on the Northern Beaches or easy access into the CBD.\u201d<\/p>\n

Haberfield (Sydney)<\/h3>\n

Haberfield is a garden suburb in Sydney\u2019s Inner West. One of the benefits of living in Haberfield, according to McGrath, is that you can be \u201ca stone\u2019s throw from the CBD, on a large allotment in a period home with some of the best coffee and delicatessens in the land on your doorstep.\u201d<\/p>\n

READ MORE VIA YOUR MORTGAGE<\/a><\/p>\n

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