Thinking of buying real estate in NSW, but want to know which areas are becoming vibrant and "hip?" We've crunched the numbers to forecast the up-and-coming hipster suburbs.
It’s one thing to know what the current “hip” suburbs are in Sydney (think Newtown, Surry Hills, Redfern...), but do you know which areas will draw in the young, vibrant, long-bearded subculture of “hipsters" in the years to come?
There's no denying that cafe culture and gentrification can significantly drive up property prices, so it's worth knowing which property markets are headed in this direction so you can experience some decent capital growth.
To pinpoint the areas that are likely to see an influx of artsy Gen Ys, we analysed the trends of issued liquor licences, the walkability score and the demographic profiles including the percentage of independent youth (aged 18-35) that are residing within various NSW locations..
We spoke with local real estate agents from each respective suburb and checked out some of the trendiest vegan and organic bars, restaurants and cafes to supplement our findings.
From this, we calculated the top five Sydney suburbs that are on their way to hipsterdom.
OK, so this might seem like a bit of an easy call. Marrickville already ranks among the hip suburbs of Sydney. However, we're making the prediction that the suburb will take the crown from Newtown as the nexus of Inner West hipsterdom, particularly as Sydney's lockout laws change Newtown's atmosphere and blunt its wonderful weirdness.
From 2012-2015, Marrickville saw a 16.59% rise in the number of issued liquor licences which means there are lots of new bars and businesses opening up. Located just 8km from the Sydney CBD, Marrickville has a walkability score of 95, so it's safe to say that Marrickville is a walker's paradise.
With independent youth making up 42.6% of the population, Marrickville is well and truly attracting those from the hipster realm, as the predominant age group is 25-34 years. Households in Marrickville are likely to be repaying between $1,800-$2,400 on monthly mortgage repayments.
21% of residents have a household income of $78,000 to $130,000.
If you're a self-confessed foodie (and one with distinct culinary needs), then Marrickville is your go-to. There's a bunch of vegan and gluten-free eats to satisfy the ultra-alternative, such as The Everest Kitchen and Two Chaps. The suburb also puts on lively markets each weekend that feature vegan eats and assorted artsy oddities for sale.
Postcode 2204 boasts a median property price of $1.23 million as at January 2016, while the median annual price change is 28.12%. The median weekly rent is $730 which is well above the national average of $395, and a total of 41.7% of residents are renting.
2. St Leonards and Crows Nest
This one is going out on a limb a bit more. St Leonards has typically been known as a bland group of office blocks. Nevertheless, Willoughby Council (including St Leonards and Crows Nest) saw a whopping 18.27% jump in the number of liquor licences from 2012-2015. This means oodles of bars and restaurants to please your hipster taste buds. Just a stone's throw from the Sydney CBD (4km to be exact), this region has a respectable walkability score of 87 so it’s fairly easy to get from A to B.
With a buzzing nightlife for vegos and gluten-free enthusiasts, St Leonards and Crows Nest have several stylish bars from the likes of The Stone Crow to the FoxTrot and Small Bar. The area is also beginning to become something of an artists' enclave, with galleries quickly popping up along Atchison Street. Thus, this area has a vibrant creative scene for its independent youths, who make up 68.60% of the population. The predominant age group is 25-34 years.
Households in St Leonards are repaying between $1,800-$2,400 on their monthly mortgage repayments, while households in Crows Nest are paying in excess of $4,000 each month on repayments. Households fall under the $130,000-$180,000 income bracket (26.10% for St Leonards, and 24.1% for Crows Nest).
At a glance, the median sale price in St Leonards and Crows Nest is $1.7 million. In particular, Crows Nest has seen rampant annual price growth of 29.54%. The median weekly rent for St Leonards and Crows Nest is $685 and $930 respectively. A total of 59.8% are renting in St Leonards while 47.30% are renting in Crows Nest.
Marooned between the Inner West and Parramatta, Auburn might seem an unlikely hipster oasis. However, the number of approved liquor licences in Auburn rose by 17.29% between 2012 and 2015. With a 93 walkability score in the suburb's central area independent youth accounting for 30.2% of its population, Auburn is on its way to becoming a new hipster destination.
If you want to get amongst it, head to the Melton or Keighery Hotels, or for some arts and culture, soak up the creativity at the Auburn Artist's Network.
The median sale price in Auburn is $897,000 where houses have witnessed a 20.40% price change. The average weekly rent in this suburb is $480 which is above the national average of $395.
Households in Auburn are forking out around $1,800-$2,400 on monthly home loan repayments, where the majority of residents (20.2%) fall in the $31,000-$52,000 income bracket. Around 41.3% of households are renting.
You may not have picked the Northern Beaches to be a hip location, but Narrabeen has seen a 13.91% spike in the number of liquor licences being issued from 2012 to 2015. The area's walkability score comes in at 75 (not too shabby), and 60.10% of Narrabeen's population is made up of independent youths.
If you're scouting out the best eateries or bars that Narrabeen has to offer, head over to Garden Street Cafe, Mexicano or Bored Monkey (you won't be disappointed).
The median house price in postcode 2101 is a whopping $1.8 million where the annual price change was 24.31%. The median weekly rent in Narrabeen is $1,050.
Households in Narrabeen are primarily childless couples that are dishing out $3,000-$4,000 in monthly mortgage repayments, while they fall under the $78,000-$130,000 household income category.
Roughly 40% of households are renting in Narrabeen.
Nestled in its conveniently central location, Zetland is reaping the benefits of spillover from hipper nearby suburbs such as Redfern, Surry Hills and Eveleigh. The number of issued liquor licenses for Zetland jumped by 8.38% from 2012 to 2015, which signals the opening of several new bars, restaurants and businesses.
This suburb has a walkability score of 82 (located just 6km from the Sydney CBD) and independent youth account for around 54.30% of its residents.
Lucio Pizzeria, Taste Grower's Market and Nan's Place are the top picks as far as carb-loading (gluten-free, of course) is concerned.
$1.6 million is the median price tag for real estate in Zetland, while the median weekly rent comes in at $750.
Households in Zetland are mainly childless couples who are paying $3,000-$4,000 each month in home loan repayments, with 21% of households earning a combined income of $78,000-$130,000.
Approximately 48.8% of households are currently renting.
Suburb liquor licence trend
|Area||Liquor licences (% change from 2012 - 2015)|
|St Leonards/Crows Nest||18.27|
Suburb walkability score
|St Leonards/Crows Nest||87|
|St Leonards/Crows Nest||68.60%|