Sydney beachside suburbs are likely to see strong growth in property prices in 2014, according to a leading Australian market specialist.
John McGrath, chief executive officer at McGrath Estate Agents, stated that growth for Sydney will be between five and ten per cent in 2014.
He claimed suburbs in beachside areas will be particularly popular, as well as parts of the inner city, with the inner west area south of Parramatta Road singled out.
Speaking to the Daily Telegraph, Mr McGrath said: "Ironically, the best bargains will be in areas like Palm Beach and Whale Beach. They have been oversold in recent years and there is a 12-month window to get value there."
Sydney property prices have performed well in 2013, but experts are split on whether or not these gains will be replicated in 2014.
While Mr McGrath predicts growth will hold up, Dr Andrew Wilson, senior economist for Australian Property Monitors, suggests that rises could be halved in 2014 compared to 2013.
Posted by Steve Douglas
