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Property Market Sydney: The Best Inner City Suburbs for Young People

September 25, 2021

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Thinking of living in the Sydney suburbs? Sydney offers proximity to well-paying job opportunities and desirable modern conveniences. The Sydney inner suburbs have a vibrant social scene, a diverse community with picturesque scenery, and fast internet—everything that a young person will love. As experts in the real estate industry in Australia, we’ll get you in on the loop on where to find your dream home in the inner city suburbs of Sydney. Listing Loop is a free online platform that connects buyers with properties, making buying a home less tedious and smooth. When you sign up, you get notified almost immediately after a new matching property hits the market. So many beautiful homes are posted daily on the platform by real estate agents Australia-wide. Living in an inner-city suburb means you can work in the Sydney CBD and commute daily. All of the inner suburbs have an excellent public transport system that makes this easy. Here, we’ve summarised three inner city suburbs that are most suitable for young people planning to live in Sydney. This is based on the quality of life, housing supply and property prices. Young people will enjoy living in:
  • Paddington
  • Darlinghurst
  • Redfern
Let’s explore why these are the best inner-city suburbs for young people.

Paddington NSW

Paddington is one of Sydney’s eastern suburbs. It’s a 3km walking distance from the Sydney CBD. When you walk through the suburb of Paddo, as the residents affectionately know it, you’ll immediately notice the beautiful heritage buildings. Paddington is serviced by an excellent bus network. It’s perfect for young people who want to work and live in Sydney.

Paddington Lifestyle

Paddington has a very vibrant city lifestyle. If you enjoy eating out, going shopping or clubbing, this is the place to be. There are numerous fashion stores located in the suburb and it offers a great social scene for young people. Singles and young professional couples will enjoy living in Paddington. Here are some of the best places you’ll enjoy as a young person living in Paddington.
  • Oxford Street - Entertainment and fashion.
  • Centennial Park - Walking and cycling.
  • Bondi Beach - only 4km away.

House Prices in Paddington

Most of the houses in Paddington are Victorian terrace houses. Most houses have a courtyard—perfect for BBQs and enjoying the sunny Sydney weather. Paddington is ideal for young couples who are thinking of starting a family. Due to the record low interest rates, the demand in the Sydney housing market has gone up despite the extended lockdown period. As the demand increases, Sydney property prices have gone up. Rental property in Paddington is also in very high demand as more people move to areas that offer excellent lifestyles. Buyers and property investors are rushing to enjoy the low-interest mortgage rates of less than 4% set by the Reserve Bank. There’s also a limited supply of properties for sale in the market. If you wish to get updates on secret property in the Paddington area, or any other place in Australia, download the free Listing Loop app. Also, check out Lending Loop for how you can get funding for your dream home. The table below shows the median house prices for 2021:
Buy/ Rent House Unit
Buy $2,800,000 $965,000
Rent $1,100 per week $450 per week

Darlinghurst

Darlinghurst is located in the inner eastern area of Sydney. It’s only one kilometre from the CBD. For those looking for real city life where everything is within reach, this is the place to be. It’s a beehive of activity with a high population of young people. Around 100 years ago, Darlinghurst was viewed as a less desirable suburb. That has changed significantly in the last century. Constant renovations and new developments continue to change the face of the suburb. Its popularity makes it one of Sydney’s best places to live for young people.

Darlinghurst Lifestyle

Darlinghurst is a very diverse suburb; as such, everybody fits in. There’s a community feel and general acceptance for people from all walks of life. Gyms and parks are a common sight in Darlinghurst, making it suitable for fitness enthusiasts and young families. Due to the multicultural society in Darlinghurst, you’re going to find plenty of diverse food options especially Thai restaurants, Italian pizzerias and sushi bars. For those who love to eat out, there’s so much to choose from. There are frequent bus services to Darlinghurst. A walk from the CBD is only one kilometre as you enjoy the view of this beautiful suburb. Young professionals and couples will definitely enjoy this suburb. Here are some fun places in and around Darlinghurst:
  • Taylor Square - Fashion, pubs and restaurants.
  • Hidden bars and restaurants - you may even need a password to get in.
  • Some of the best beaches in the world are only 7km away.

Property Prices in Darlinghurst

With everything being remodelled, real estate prices have gone up in Darlinghurst. Despite the property price growth experienced all over the city, Darlinghurst is still much more affordable than other suburbs. The quality of life is excellent, and it’s extremely popular with young people. Property investment in Darlinghurst would be a wise move as many young people cannot afford to buy and prefer to rent. Below are the median house value and rental prices.
Buy/Rent House Unit
Buy $1,900,000 $1,093,000
Rent $863 PW $495 PW

Redfern

Redfern is located three kilometres south of the Sydney CBD. The Redfern railway station is located at the western edge of the suburb and is one of the major junctions in Sydney. It’s one-stop away from Sydney Central station. Frequent trains servicing the area and a convenient bus network make the area suitable for young professionals working in the Sydney CBD.

Redfern Lifestyle

If you want a place that’s safe, affordable and with a community spirit, then Redfern is where you should be. Redfern has a vibrant art scene and is home to many Sydney artists. It’s also home to many indigenous communities with high importance placed on cultural heritage. People living in Redfern also enjoy close proximity to the airport, only 6km away. The Sydney City Council has worked on the streets and landscaping, and the gardens are well kept making it very pet and cycling friendly. With close access to bars and restaurants, Redfern offers city life convenience without the hustle and bustle. This is suitable for young professionals, couples and singles. The suburb offers the best of both worlds, with everything within reach and a calm and green area with beautiful houses. Some lovely places to see in Redfern include:
  • Redfern Park - Green area that is serene and with beautiful trees.
  • Redfern Street - If you love art, this is a great place to enjoy a free exhibition.
  • Yoga Centre East Redfern - Home to some of the world’s leading yoga teachers.

House Prices in Redfern

The predominant Redfern style of housing is Victorian terraced housing, similar to Paddington. Like Darlinghurst, Redfern has also experienced gentrification and remodelling by the local government. The remodelling is aimed at eradicating poverty and increasing the population, which has worked. The area is now very popular with young people. Redfern has shown increased growth in commercial development. Despite that, the prices are still affordable. Here are the median house prices for Redfern.
Rent/buy House Unit
Buy $1,600,000 $950,000
Rent $ 775 PW $550 PW

Find Your Dream Home in Sydney

What if your dream house is out there but not listed on the major websites? You could spend months and months trying to find it. Frustrating, right? At Listing Loop, you’ll find houses before they’re listed anywhere else. You can find your dream house before anyone sees it, as buyers are notified every time there's an off-market property listed that matches their needs. An off-market property is a property that’s ready to be sold without any advertisement. The idea is to find the right buyer—like you—instead of the property being listed on mainstream real estate websites for everyone to see, including the time wasters. For sellers who’d love to have their house listed, consult with your agent to join Listing Loop. There are thousands of agents Australia-wide registered on the platform. Agents stand to find a serious buyer faster when they post the house for sale on Listing Loop. It helps save time and is a smooth process for all the parties involved. Whether you’re thinking of living or investing in any of these suburbs, all you need is your phone. Download the app and sign up to join the community. Get in the loop now before someone else snaps up your dream home.

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