The Most Liveable Suburbs In Sydney’s East
The latest list of Sydney’s most liveable suburbs highlights three of the East’s most sought-after locations.
What makes these neighbourhoods so desirable?
According to the latest Urban Living Index, Sydney’s East is home to three of the top 10 most liveable suburbs in the city. Surry Hills tops the list, followed by Potts Point-Woolloomooloo at number five and Randwick in seventh position.
Let’s take a look at the factors that make these neighbourhoods so liveable and attractive to buyers.
Surry Hills: A dream destination for first time buyers and investors
Surry Hills’ growing popularity with first time buyers makes sense as many are budgeting to buy apartments instead of detached homes. While they are sacrificing floor space, Surry Hills residents who commute into the CBD are shielded from downsides such as public transport congestion.
Along with its extremely walkable location, Surry Hills’ thriving café and restaurant scene is another big attraction for property hunters buying with an eye towards capital growth. We’ve also seen strong rental yields in Surry Hills in recent years, making the suburb popular with investors.
Potts Point-Woolloomooloo: Ripe for harbour side renovation?
There are obvious reasons why Woolloomooloo-Potts Point was ranked fifth most liveable suburb in Sydney. The village atmosphere with a growing restaurant and cafe scene, plus the Royal Botanic Gardens, Art Gallery of NSW and State Library are all minutes away, all complemented by iconic views across the harbour.
We suspect this area may already be marked for revitalisation with the ever-increasing value of the suburb’s government-held land. In the meantime, we’ll continue to see buyers bidding at the very top of the market for property here.
Randwick: Balancing value with convenience
Even at number seven on the list, Randwick has plenty to recommend it. With a lower proportion of high-density dwellings, it’s often top of the list for buyers looking for a family home that’s close to the city and meets their budget.
That said, prices are already on the rise. Many sellers are starting to realise that they don’t have to own a beachside property to have bargaining power. With the coming introduction of the South East Light Rail, Randwick will be even more sought-after for its connection to the CBD.
Looking ahead: The swing towards Sydney’s east
While the Urban Living Index highlights these three locations in its top 10, this doesn’t mean property hunters have to rule out the surrounding areas. Neighbouring suburbs share many of the factors that contribute to high liveability scores. Woollahra, Paddington and Double Bay all boast similar village atmospheres, revitalised restaurant scenes and a negligible commute into the CBD. We also saw eastern suburbs hotspots like Darlinghurst, Bondi and Bronte take out places among the top 20.
The question is, will the government’s planned developments to create an ‘Eastern City’ – along with Sydney’s growing population and changing demographics – make the eastern suburbs more or less liveable over the longer term? At this stage, it seems safe to predict that much of the east will remain a sellers’ market for quite a few years to come.
For now, buyers will need a combination of expertise and persistence to claim their corner of the east.