Suburb Profile Report for Redfern NSW (2016)

Redfern House: Median price $1,381,000, Annual capital growth 10.24%, Number of sales 96, Weekly median advertised rent $800

Redfern Unit: Median price $815,000, Annual capital growth 8.12%, Number of sales 133, Weekly median advertised rent $620

  • House
  • Unit
Source: CoreLogic RP Data
  • Median price
  • Number of sales

Source: CoreLogic

  • House Report
  • Unit Report
  • Expert Report

Redfern has had a pretty good year for property investment returns compared to the rest of NSW, giving investors a capital gain of 14.61% to date .

While Redfern,2016 ranked number 834th in NSW for increase in median house value (annualised) increase, it is ranked 281th over the last 5 years.

Redfern, 2016 is offering NSW ‘s 11th most discounted properties when looking at the average discount being offered by vendors. This puts it in the TOP 10% of discounts offered by this NSW.

At number 351 in a list of fastest selling suburbs, Redfern is in the TOP 10% of suburbs in Australia with an average of days on market 44.5 for properties listed there.

A $800 per week rent on the median house gives suburb investors a gross yield of circa 3.01%, without taking into account capital value appreciation, which has been averaging out at 10.24%.

Property value increases in Redfern have tracked close to the NSW average of 6.92% over the last 12 months.

Across a shorter period, Redfern, 2016 has seen a median price increase of 0.00% over the last quarter.

Sellers are offering property buyers an average discount of -4.48% to buyers in Redfern at the moment, which is less than average for the rest of NSW.

With the median price for a house in Redfern being $815000 and the advertised rent reaching $620 the gross rental yield for property investors calculates out to be 3.96%

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Redfern is slowly shaking off its image as one of Sydney's less desirable suburbs, as significant urban regeneration continues to transform the area.Full summary

Redfern is slowly shaking off its image as one of Sydney's less desirable suburbs, as significant urban regeneration continues to transform the area.

The ongoing gentrification of this strategically placed suburb with a reputation problem is likely to produce good long-term returns – especially as it offers easy access to Sydney’s CBD, the inner west and the eastern suburbs.

While the suburb is just one stop from Central Station, the CBD is also within easy walking distance – as are Darlington and, to a lesser extent, Newtown. To the immediate east lie Surry Hills, Moore Park and Centennial Park.

Redfern is popular with an eclectic mix of young professionals, students and alternative types. It's an affluent crowd, however, with an estimated average weekly income of $2.061 – more than $650pw higher than the NSW average. Population growth is also high, with SQM Research projecting 2% growth per year for the next few years.

In line with its eclectic reputation, there are a wide range of amenities in Redfern, particularly trendy bars, cafes, independent stores and boutiques. A weekend farmers market takes place at the Old Eveleigh Train Yards. The suburb is also within easy reach of the Surry Hills Shopping Centre for more conventional fare.

Also boosting Redfern is the amount of urban redevelopment money being ploughed into the suburb. Substantial urban improvement works and redevelopment is ongoing in a bid to improve its chequered reputation – particularly in the area around Redfern Station – by creating “social, affordable and private housing throughout the area as well as new facilities, parks, community and recreational spaces”.

This ongoing work should see the impressive growth of the suburb continue. Nevertheless, the east of the suburb tends to be more gentrified than the west, so risk-averse investors may wish to stay on this side of the tracks. New developments in central streets George Street, Wells Street and Pitt Street may also offer good opportunities for investors looking for low-maintenance properties with maximum depreciation.

All in all, Redfern’s a solid contender for the investor seeking an affordable unit in a city centre location.

Close
HOUSE UNIT
$1,381,000 $815,000
0.00% 0.00%
14.61% 6.54%
10.24% 8.12%
$800 $620
96 133
3.01% 3.96%
44.5 50.92

Source: CoreLogic

DSR Score for property investment : Very good (H), Very good (U)
Find a mortgage broker in Redfern NSW
Demographics
Total population 12034
Median household income ($/weekly) 1447
Median age of persons 36
Median housing loan repayment ($/monthly) 2522
Average household size 1.9
  • Census Count Percent(%)
    20-24 years 1160 9.6
    25-34 years 3346 27.8
    35-44 years 2206 18.3
    45-54 years 1614 13.4
    55-64 years 1122 9.3
    Others 2585 21.5
    Age Group
    Census Count Percent(%)
    Not Married 5616 60.5
    Registered Married 2020 21.8
    Defacto Relationship 1651 17.8
    Social Marital Status
  • Census Count Percent(%)
    Australia 5917 57.0
    Croatia 440 4.2
    Papua New Guinea 436 4.2
    United Kingdom 640 6.2
    Other 1120 10.8
    Others 1822 17.6
    Country of Birth
    Census Count Percent(%)
    Buddhism 460 4.6
    Christianity 4654 46.7
    Islam 273 2.7
    Judaism 206 2.1
    No Religion 4155 41.7
    Others 224 2.2
    Religious Affiliation
  • Census Count Percent(%)
    $300-$399 469 9.8
    $400-$599 349 7.3
    $1,500-$1,999 503 10.6
    $2,000-$2,499 379 8.0
    $2,500-$2,999 579 12.1
    Others 2487 52.2
    Gross Household Income (Weekly)
    Census Count Percent(%)
    Employed, worked full-time 4827 49.7
    Not in the labour force 2708 27.9
    Employed, worked part-time 1481 15.3
    Unemployed, looking for work 400 4.1
    Employed, away from work 287 3.0
    Person Characteristics
  • Census Count Percent(%)
    Managers 1019 15.4
    Professionals 2543 38.5
    Technicians & trades workers 552 8.4
    Community & personal service workers 597 9.0
    Clerical & administrative workers 897 13.6
    Others 992 15.0
    Occupation
    Census Count Percent(%)
    Infants/Primary 237 12.0
    Secondary 170 8.6
    Technical or Further Educational Institution 302 15.3
    University or other Tertiary Institutions 1024 52.0
    Other type of educational institution 161 8.2
    Others 76 3.9
    Type of Educational Institution Attending
  • Census Count Percent(%)
    Flat, unit or apartment 5963 58.4
    Semi-detached, row or terrace house, townhouse 3318 32.5
    Separate house 884 8.7
    House or flat attached to a shop, office 38 0.4
    Caravan, cabin, houseboat 8 0.1
    Others 0 0.0
    Dwelling Structure
    Census Count Percent(%)
    Rented 3132 60.1
    Being purchased 1316 25.2
    Fully owned 733 14.1
    Other tenure type 34 0.7
    Tenure Type
Census 2011, ABS
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