Suburb Profile Report for Redfern NSW (2016)

Redfern House: Median price $1,665,000, Annual capital growth 10.86%, Number of sales 88, Weekly median advertised rent $850

Redfern Unit: Median price $967,000, Annual capital growth 8.79%, Number of sales 172, Weekly median advertised rent $650

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

Source: CoreLogic

  • House Report
  • Unit Report
  • Expert Report

Redfern has had a A very good year for property investment returns compared to the rest of NSW, giving investors a capital gain of 18.51% to date .

Across a shorter period, Redfern, 2016 has seen a median price increase of -2.06% over the last quarter.

When looking to buy, or assessing what properties are really achieving at sale, it's essential for property investors to take into account what discounts are being offered in Redfern, 2016. Typically our figures indicate that -5.34% is being offered, which puts this NSW suburb at 1954th most discounted overall in Australia.

Residents and property investors in Redfern have been waiting around 66.23 days to sell a property.

Renters in Suburb are facing rents around $10200 per annum or $850 every week.

Investment property in Redfern has done well for investors when compared to the country as a whole over the last 12 months, with an increase in the median house price of 13.43%

If we look at median property appreciation over just the last three months, Redfern has given property investors a paper return of 2.87%. This puts Suburb as 153 on a list of fastest fasting appreciating suburbs in NSW

When looking to buy, or assessing what properties are really achieving at sale, it's essential for property investors to take into account what discounts are being offered in Redfern, 2016. Typically our figures indicate that -4.03% is being offered, which puts this NSW suburb at 997th most discounted overall in Australia.

Advertised rents are around the $650 mark per week – giving a return of 3.50% based on the median price in Suburb

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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
Metrics i HOUSE UNIT
$1,665,000 $967,000
-2.06% 2.87%
18.51% 13.43%
10.86% 8.79%
$850 $650
88 172
2.65% 3.50%
66.23 37.21

Source: CoreLogic

DSR Score for property investment : Above average (H), 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
Chart Table
Recent sales & rentals