If you compare the increase in value of investment property in Sydenham, 2044 to the rest of Australia, it performed somewhat poorly. The median increase in value, or capital gain property investors experienced for this NSW suburb was -5.49%.
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Sydenham is on the fringes of Sydney’s inner west, 6km from the CBD and sandwiched between Marrickville and St Peters. It's been somewhat overlooked until recently, and has been described as an 'inbetween' suburb – neither true inner west nor a more established residential suburb like Tempe. The high proportion of commercial property also put off prospective buyers.
However, as prices in the inner west increase, buyers are increasingly taking more notice of suburbs like Sydenham and neighbour St Peters. First, it’s within easy reach of the CBD via direct train and bus, and the plentiful amenities of Newtown are only a short bus or cycle ride away too. It’s also well positioned for airport access: noise from landing planes may be an issue in some streets, though.
Within Sydenham, there is a small group of shops is located around the intersection of Unwins Bridge Road and Railway Road. Marrickvile Metro shopping centre is also within easy reach. Residents are typically young professionals, and the average weekly income is well above the NSW average – suggesting an affluent population. The area's population is also growing rapidly: the population of the wider Marrickville region increased by around 3,000 people between 2005 and 2009.
House prices compare favourably to neighbouring suburbs, such as Tempe. Rents are comparable to more expensive suburbs too, and the vacancy rate is low.
Short-term growth may be limited: however, in the longer term, prices should benefit from the ripple effect and ongoing gentrification of the ‘outer’ inner west suburbs.