Suburb Profile Report for Redfern NSW (2016)

Redfern House: Median price $1,320,000, Annual capital growth 7.39%, Number of sales 81, Weekly median advertised rent $893

Redfern Unit: Median price $970,000, Annual capital growth 8.48%, Number of sales 147, Weekly median advertised rent $650

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

Source: Monthly data update for Nov 2019 as supplied by CoreLogic. Data is reported to the period ending Aug 2019. Please note that property sales data is routinely updated, so may change retrospectively.

  • Expert Report
  • House Report
  • Unit Report

Redfern is in the bottom 30% in NSW when comparing median price capital growth over the last year. Redfern gave property investors a disappointing capital gain figure when compared to the rest of the state, with -9.59%.

While Redfern,2016 ranked number 826th in NSW for increase in median house value (annualised) increase, it is ranked 748th over the last 5 years.

Property investors looking for a bargain in Redfern should be aiming for at least -10.35% off the asking price, which is the average vendor discount being achieved at the moment.

Residents and property investors in Redfern have been waiting around 60.5652 days to sell a property.

If you compare the increase in value of investment property in Redfern, 2016 to the rest of Australia, it performed around average. The median increase in value, or capital gain property investors experienced for this NSW suburb was 0.00%.

Redfern,2016 has offered an average of 0.00% return per annum in house price rises to property investors over the last three years.

LACK OF BUYER INTEREST may well be the reason that Redfern is offering property investors an average of -6.83. This rate of discount on properties puts Suburb at number 156th in terms of most discounted suburbs in NSW

Advertised rents are around the $650 mark per week – giving a return of 3.48% based on the median price in Suburb

Information supplied by:


October 2017

M
O

W
E

Prestige suburb maintains status

Postcode: 2016

Median house price: $1,567,500

Three-year growth: 56.0%

Rental yield: 2.7%

Gentrification has transformed the suburb of Redfern into a prestige area. It has been recording consistent growth for at least five years, and this trend looks to continue into the near future.

Located just 3km from the Sydney CBD, Redfern is a bustling commercial hub that draws city dwellers. Shopping is concentrated at Redfern Street, and to the east is the Redfern railway station. This station is the one closest to the University of Sydney at Camperdown and Darlington; thus, a constant flow of commuters keeps the area busy. In addition to being near the university, Redfern is the site of St Andrew’s Greek Theological College.

Redfern is a significant place to the Aboriginal community as the site of The Block, where many members of this community were given access to housing.

Metrics i HOUSE UNIT
$1,320,000 $970,000
-1.86% 0.00%
-9.59% 0.00%
7.39% 8.48%
$893 $650
81 147
3.52% 3.48%
60.5652173913044 60.1463414634146

Source: Monthly data update for Nov 2019 as supplied by CoreLogic. Data is reported to the period ending Aug 2019. Please note that property sales data is routinely updated, so may change retrospectively.

DSR Score for property investment : Above average (U), Balanced (H)
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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