A western Sydney suburb is tipped to be one to watch in 2019.
When it comes to the property market, Auburn is expected to hold strong and see an influx of buyers due to its affordable price point and choice of eateries.
Starr Partners chief executive Doug Driscoll has named the area in his list of top 10 hot spots for next year.
While he didn’t anticipate price growth in any Sydney suburb over the next 12 months, he said Auburn was set to outperform most areas.
“Auburn is really starting to come into its own and it has a real community feel,” Mr Driscoll told the Parramatta Advertiser.
“It was once a suburb almost frowned upon for its multiculturalism, whereas now people are coming from far and wide to live there and enjoy its many cuisines.
“It is also one of these areas which represents good value for money — if you compare it to suburbs either side of it you definitely get bang for your buck.”
The area’s current median house price is $902,500 while the median unit price is $532,500, according to the latest CoreLogic data.
Just one suburb over, in Lidcombe, the median house price is $1.2 million. Its median cost for units is a higher $730,000.
Mr Driscoll said the area was attracting plenty of home seekers thanks to its “variety of housing stock”, including everything from studio to three-bedroom apartments as well as townhouses and detached homes.
According to figures compiled by realestate.com.au, house listings are seeing 1205 online views, on average, which is slightly less than the NSW average.
Listings in Auburn are seen more than those in nearby Newington, Regents Park, Rosehill and South Granville.
Realestate.com.au’s chief economist Nerida Conisbee said Auburn was proving a popular choice for buyers searching for long-term growth.
“When you look at places that have performed the best over the past decade, they all have vibrant, interesting retail strips and affordable housing stock which can be done up,” Ms Conisbee said.
“Somewhere like Newtown 10 years ago was a pretty rough area to be in, and now it is an amazing place — Auburn has that same potential with all the right elements.”