02.07.2024 Suburb Spotlight

Spotlight On Queens Park

Spotlight On Queens Park

When it comes to property prices, Queens Park is one of NSW’s fastest-growing suburbs.

We look at the rise of Queens Park.

When it comes to property prices, Queens Park is one of the fastest-growing suburbs in NSW. We look at what’s behind its rising prices to find out what makes this eastern suburb special.

Queens Park is a high-growth area for property prices

All of NSW’s fastest growing suburbs in 2023 were located in Sydney, with year-on-year price growth in these top performers ranging from 14% – 17%, according to realestate.com.au.

The data highlighted that unlike other capital cities, Sydney’s “more affluent suburbs” experienced the strongest price growth.

Queen’s Park came in number four on the list of Greater Sydney’s top performers. With an average property value of $3,381,000, prices in Queens Park rose 15% year-on-year.

A closer look at the data for Queens Park

When we profiled Queens Park in 2019, just five years ago, the median house price was $2,635,000 and the median apartment price was $1,014,000.

RIght now, Domain reports that the median sales price for a three-bedroom house is $3.4 million, while four-bedroom houses sell for a median of $4.25 million. Meanwhile, realestate.com.au has the overall median unit price sitting at $1.26 million.

This not only shows the growth in prices, but also the way that houses (particularly larger family houses) have significantly outperformed apartments.

Domain also has the auction clearance rate for three- and four-bedroom houses in Queens Park sitting at a healthy 73%-75%.

It’s positive news for investors too: realestate.com.au data reveals that rents for houses in Queens Park have also risen 13.8% (providing yields of 2.8%) and apartments 14.1% (providing yields of 3.5%) over the past year.

Weekly Market Insight
Receive Ben Collier's Weekly Market Insight directly to your inbox.
Sign Up
  • Enter your details to receive the report
  • Enter your details to receive the report
  • Enter your details to receive the report
  • This field is for validation purposes and should be left unchanged.

The growing appeal of Queens Park

Queens Park is both an urban park that forms part of Centennial Parklands and a small, peaceful parkside suburb that lies within Waverley Council. The 26-hectare park itself dates back to 1888 and is home to some of Sydney’s oldest and largest Moreton Bay and Port Jackson fig trees, planted in the 1890s and 1930s.

But as a suburb, Queens Park is relatively new. It was originally part of Bondi Junction but was only proclaimed a suburb in its own right in 1992, something that has had a positive impact on housing values and made the area popular with buyers.

By area and population, Queen’s Park is relatively small, comprising fewer than 25 blocks, and home to just 3,143 residents according to the 2021 Census. It is also one of the most tightly held areas in the eastern suburbs. The vast majority of buyers are owner-occupiers and the area is popular with young and maturing families seeking family-friendly homes and a family-friendly lifestyle.

Queens Park has just 1,283 dwellings, split fairly evenly between freestanding houses (36%), semi-detached or terrace houses (38%), and apartments (26%). Houses on the eastern side of the park date back to the Victorian era, with those on the northern and southern sides are mainly Federation-era homes. There’s also a smattering of low rise unit blocks, including some with art-deco appeal.

This small suburb has plenty of charm as well as easy access to great shopping at Bondi Junction and some of Sydney’s best beaches. It’s a quick hop over to Paddington and Woollahra, and Centennial Parklands is right on the doorstep. It’s also home to Moriah War Memorial College, with other excellent schools nearby.

Recent listings in Queens Park:

We broke the suburb record for Queens Park when we sold 148 Denison Street for $8.7 million in November 2022.

Other properties we have sold include:

24 Rawson Avenue, Queens Park
2-4 Cuthbert Street, Queens Park
17 Ashton Street, Queens Park
27 Ashton Street, Queens Park
71 York Road, Queens Park

Want more?

If you’re interested in buying or selling in Queens Park or Sydney’s Eastern suburbs, get in touch.