Annandale is a suburb Sydney, situated 5km west of the CBD within the Inner West Council Local Government Area. Annandale is known for its culture, hip-nature, location, and gentrification.
In years gone by, Annandale was a major working-class neighbourhood, with many public housing estates in the early 1900s. Throughout the years after World War II, many the younger wealthier residents begun to move into the suburb.
Many of the wealthier news residents lived in the beautiful heritage homes that area still present today such as a home named Kenliworth which was home to the former Premier of NSW, Henry Parkes.
Occupying an exceptional location in Sydney, Annandale is one of the inner west’s most expensive suburbs and one of its top performing. Annandale houses are priced at over $2M today, which was a figure close to $200,000 in the 1990s and shows no suggestion of slowing down.
Lifestyle
Many Annandale residents enjoy an urban walkable lifestyle. Jubilee and Hogan Park are common locations where many locals can be seen exercising, walking, and picnicking, all common activities in Annandale.
The cultural hubs of many local suburbs such as Leichhardt is also a common activity for locals, especially when there are major events on such as the Italian festival.
There is a large presence of activism and culture in Annandale, with many eco-groups that run events such as the Eco-Annandale Festival. Many bands and pop stars have been mentioned Annandale in their songs such as Seventeen, and other bands have played gigs in Annandale such as Sticky Fingers from nearby Camperdown.
Many residents also enjoy the comfort of their own home, spending time with their families and sometimes hours improving it, creating a large house-proud nature in the suburb.
The CBD, Balmain and Broadway are two very common places for residents to go shopping and spend a day out, as they all lie within 10 minutes from the centre of Annandale.
School Zones
Annandale Public School is the main school that serves primary level residents for a public education. St Brendan’s Catholic School also serves residents who are after a catholic education in Annadale.
Public high school aged students generally attend Sydney Secondary College at Blackwattle Bay or Leichhardt. Fort Street High School is also popular amongst top performing bright students and is located at nearby Petersham.
Many of the wealthier long term and professional residents now send their children to other Inner West Private Schools such as Newington College, Trinity Grammar School, MLC and PLC Croydon.
Bridge Road Special School is in neighbouring Camperdown, close to Sydney University and serves students of special needs.
Demographics
Residents of Annandale have very high weekly median household income according to ABS census data at $2,683 per week in 2021, up from $1,673 in 2006. This is largely due to the professional employment nature of many of the suburbs residents.
Families with and without children are very common in Annandale and make up close to 90% of the suburb. Many households in Annandale have median income levels close to that of the Eastern Suburbs and North Shore.
English, Scottish, Italian and Chinese are all common ancestry places of residents in Annandale. Personal median income levels are also very high, close to 80% higher than the national average at $1,442 per week compared to the national average of $805 per week in 2021.
Employment
Healthcare and education are the largest employers of residents in Annandale. This is for good reason, with Royal Prince Alfred Hospital and Sydney University being located at nearby Camperdown.
IT, Finance and Law are also common industries of employment. Many employees of which work in employment hubs nearby such as the CBD, Burwood, and Bondi Junction.
Working from home is extremely common in Annandale, with over 55% of the working population working entirely from home, which creates an incredible work life balance for the population.
Transport
Annandale was once home to the Lilyfield Tram Line on the Sydney Trams Network in the early to mid-1900s. Today it is still host to the Inner West Light Rail line, which has a stop, Jubilee Park accessible in the northern end of the suburb.
Buses are the main method of transport in the suburb. Most buses run through the middle of the suburb along Booth Street and run towards the CBD, Balmain, Burwood, and Alexandria.
Many residents in Annandale do not have a car at all and rely entirely on public transport. This is largely due to the proximity of employment hubs and other easily accessible methods of transport such as buses, and the light rail.
Private transport is common among families with children, particularly in the more expensive residencies that occupy the few larger blocks in the suburb.
Shopping Centre's, Restaurants & Facilities
Alike to many other suburbs of the Inner West, Annandale has a fantastic culture, being host to many well-known pubs and night life scenes. Annandale has one of the most decorated pasts in the music industry, with Trafalgar Studios playing host to many bands in the 1970s-80s such as Cold Chisel, Midnight Oil and INXS.
The Annandale Hotel is known as a fantastic place for a pub meal or crawl, and is often busy even on weeknights, particularly popular among many of the university students who live within the suburb and nearby Camperdown.
There are a few good restaurants along Booth Street such as Indian, Italian and Chinese Cuisine. Annandale is home to the Eco-Annandale Exhibition and the Footprints Festival and is known for having a very environmentally conscious population.
Hogan Park and Jubilee Park are both common locations for locals to exercise, relax and walk, especially with pets that are common in the suburb.
Annandale has several heritage listings, as a very old Sydney suburb, including Substation No. 15, the Goodman’s Building and the Annandale Council Chambers. It is also home the many churches such as Village Church, St Brendan’s Catholic Church, Annandale Uniting Church, and Hunter Baillie Memorial Presbyterian Church.
The most common sports in Annandale are rugby league, cricket, and soccer. Gyms and fitness clubs are popular in the suburb, which run along the Booth street and into Camperdown and Leichhardt.
Arts, music, and culture clubs are also extremely popular, and commonly will play gigs in local places such as the Annandale Hotel.
Development
Land supply is incredibly scarce in Annandale, lot sizes average close to 250m2 in many parts and almost all the land has already been developed on.
Most of the development in Annandale is extremely restricted, as many lots hold heritage overlay protections, sometimes old easements, and very strict council zoning restrictions.
Often, larger scale developments are also met with a very strong community presence of environmentalist and localists who wish to keep the nature and street scape of their suburb the same.
Townhouse and unit developments do occur, though mainly towards Booth Street and Broadway. Many of the townhouse and unit developments are existing, red brick blocks that were built pre-1970.
The best regular development opportunities in Annandale are generally cosmetic renovations, redevelopments and sometimes 2-lot subdivisions.
Capital Growth
Annandale, alike to many of its neighbours Lilyfield and Leichhardt have exceptional historical and future capital growth, performing at 9.2% year on year for over 80 years. Annandale’s best streets are known to perform at a level higher than 12%.
Townhouses and apartments perform closer to 6.5% and 5%, which is a strong number for Australia, largely due to the restriction of supply.
It should be noted that the best homes in Annandale are often extremely expensive, fetching above $3.5M on most occasions. These homes also very rarely come to market, with most selling once every 20 years.
Cash Flow
Houses in Annandale generally yield between 2.7-2.9% on average, high compared to many of its counterparts and especially compared to comparable suburbs in Melbourne.
Houses in Annandale previously had leased prior to 2008 for above 4%, which with incredible capital growth have created very strong cash flow and capital portfolios for existing residents and investors.
Townhouses and units yield close to 4.5%, sometimes 5% if the fixtures and fittings are modern. The location of the townhouses and units also play a large role, which often attract high earning single professionals.
Rental Demand
Annandale has the lowest average vacancy rate for houses in any suburb of Sydney, averaging vacancy rates of 1.2%, nearly always being critically undersupplied. Since the COVID19 pandemic, the vacancy rates have been closer to 1%.
Townhouses and apartments average some of the lowest in Sydney likewise, with an average vacancy rate of 1.8%. These are often hot in demand from students and single professionals who enjoy a suburban life close to the CBD.
Houses in Annandale have some of the strongest rental increases in Sydney, averaging close to 3.5% year on year. Some of Annandale’s best homes rent for above $4,000 per week, particularly those with Glebe and Anzac Bridge views in the higher end of the suburb.
Why You Require a Buyers Agent in Annandale
Annandale is a suburb that has gentrified phenomenally well since the 1950s and now is one of Sydney’s top performing suburbs, which will only become stronger. As a famous suburb, it is also home to many famous residents such as Henry Parkes, Sid Barnes, John Stanley and John Young.
Many of the notable residents that live in Annandale, do not list their properties to the public, as it would allow for a stampede, but sell entirely off market. Many potential purchasers do not know this, nor do they have the access to attain such a residence.
Annandale’s largest issue is stock, with almost all the best stock being locked up by owner occupiers who often do not sell for 20 years or more. Stock levels have quartered over the past 20 years, and it is not uncommon to see under 10 homes on the market for sale at any point in time.
International purchasers are a common theme in Annandale, with many agents on the phone to them at auctions. Wealthy businesses people, investors, upgraders and developers are also hot competitors in the market.
Having a buyers agent in Annandale is crucial to your success. Having someone with the access, negotiation strategy and experience will ensure you purchase the right property at the right price, saving hundreds of thousands on the way in and making millions for years to come.
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