11 Areas to Invest in Real Estate in Central Sydney in 2024

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Is this the right time to invest in Australian real estate in general and Sydney real estate in particular?

According to statistics, house prices in Australia have reached a record level. Among them, Sydney continues to lead with price growth, especially in some areas near the center of Sydney that also have impressive prices.

Data from CoreLogic shows house prices in Sydney:

– Increased 28.2% since COVID started.

– Increase 6.3% in the 12 months to July 2024.

– Currently $257,733 more than pre-COVID, current average price is $1,170,152.

Learn more: Updated taxes and fees for foreigners when buying Australian real estate in 2024

Where should you invest in real estate in Sydney in 2024?

My Australian Property lists a number of areas in the following table, meeting the criteria within a 15km radius from the center of Sydney, the average household income is higher than the average in Australia ($40,094/year or $771.03/week), the DSR index (supply and demand index) is good or above average, and the population is over 6500 people.

Area	Average house price	Average growth per year	Average growth over 10 years	Average household income
Coogee	$4.005M	8.17%	8.3%	$2393
Kingsford	$2.41M	-3.60%	3.1%	$1370
Kensington	$3.8M	0.00%	1.9%	$1653
Maroubra	$3.005M	15.58%	6.2%	$1721
Neutral Bay	$3.25M	8.733%	6.3%	$2273
Cammeray	$3.05M	-98.96%	6.2%	$2346
Balmain	$2.43M	-3.08%	4.8%	$2565
Rozelle	$2.25M	15.98%	4.4%	$2926
Dulwich Hill	$2.21M	16.32%	4.6%	$1813
Summer Hill	$2.33M	22.63%	5.3%	$1948
Marrickville	$2.03M	16.31%	3.9%	$1809

1. Coogee

Geographic location: 8km southeast of Sydney center
Total population: 14,634 people
Median household income: $2,393/week

Coogee is a coastal suburb southeast of central Sydney. The area is expected to benefit from future infrastructure projects such as the $2.2 billion South East light rail for the 12km rail network connecting Circular Quay with Kingsford, which is expected to have a significant impact on property prices in the area.

2. Kingsford

Geographic location: 7km southeast of Sydney center
Total population: 13,492 people
Median household income: $1,370/week

Kingsford Residence is located just south of the University of New South Wales, less than 5km from Coogee Beach. Kingsford will also benefit from the South Eastern Light Rail project, with a direct link to central Sydney.

3. Kensington

Geographic location: 6km southeast of Sydney center
Total population: 11,927 people
Median household income: $1,653/week

Kensington is in the area of the city of Randwick. South of Moore Park and west of Randwick Racecourse. Kensington is highlighted by venues such as the University of New South Wales, the National Institute of Dramatic Arts (NIDA) and the Australian Golf Club. At the same time, Kensington is also a beneficiary of the Southeast Light Rail project.

4. Maroubra

Geographic location: 10km southeast of Sydney center
Total population: 30,722 people
Median household income: $1,721/week

Located in a coastal suburb in the south-east of Sydney, Maroubra is the largest area in terms of territory and population, managed by Randwick City Council.

5. Neutral Bay

Geographic location: 1.5km north of Sydney center
Total population: 10,090 people
Median household income: $2,273/week

Neutral Bay is located in North Sydney, under the management of North Sydney City Council. Adjacent to the Cammeray, Milsons Point and Cremorne areas.

6. Cammeray

Geographic location: 5km north of Sydney center
Total population: 7,088 people
Median household income: $2,346/week

Located north of Sydney city center, Cammeray is surrounded by a large green tree system, stretching across many roads. Most of the real estate in the area is of the type of detached houses, townhouses,…

7. Balmain

Geographic location: 5km west of Sydney center
Total population: 10,494 people
Median household income: $2,565/week

An affluent neighborhood located in Western Sydney, Balmain stands out with its luxurious buildings and restaurants. This place is where many artists and celebrities live.

8. Rozelle

Geographic location: 4km west of Sydney center
Total population: 8,533 people
Median household income: $2,926/week

Rozelle is about 4km west of Sydney city center. Rozella is an attractive place with a variety of shops and eateries.

9. Dulwich Hill

Geographic location: 7.5km southwest of Sydney center
Total population: 14,046 people
Median household income: $1,813/week

Dulwich Hill is an area in the southwest of Sydney, extending to the banks of the Cooks River.

10. Summer Hill

Geographic location: 7km west of Sydney center
Total population: 7,288 people
Median household income: $1,948/week

Summer Hill is located west of central Sydney, bordering the neighboring areas of Lewisham, Haberfield and Ashfield. It is a famous place with unique historical and cultural relics.

11. Marrickville

Geographic location: 7km southwest of Sydney center
Total population: 25,570 people
Median household income: $1,809/week

Marrickville is located in the Inner West area of Sydney, about 7km southwest of central Sydney. Marrickville is the center of commercial and light industrial areas. One of the neighborhoods with the largest Vietnamese community in Sydney.

Investing in real estate in Sydney in 2024 promises to bring many opportunities, but also requires careful consideration and flexibility. The above article summarizes data to help investors have a more general overview of the market in the region.

Data source: From CoreLogic

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