Leichhardt is an inner western suburb of Sydney, located 5km west of the CBD. It is administrative centre for the Local Government area of the Inner West Council.
Leichhardt is best known for its strong Italian influence, particularly within the walkable Norton Street Precinct. Most of the Italian population moved into the area in the mid 1900s, when Leichhardt was still a developing suburb.
Leichhardt is also home to many beautifully maintained heritage buildings including the Post Office, Town Hall, Public School Buildings and Church of England.
Prices in Leichhardt have increased exponentially over the past few decades, pricing in at over $1.8M in 2024, a number that was previously under $140k in the 1990s.
Lifestyle
As previously mentioned, Leichhardt is well known for its main street, Norton Street. There are many award winning restaurants that line the streets that many locals enjoy.
Leichhardt also lies close to the famous 'Bay Run' which only lies less than 100m from the northern edge of Leichhardt. Many locals enjoy walking, cycling and running to maintain a healthy lifestyle.
Lambert Park and Pioneers Memorial Park serve as two common locations where locals meet and relax. Many of the older residents in the suburb enjoy catching up in the local parks and cafes over coffee and barbecues, particularly on weekends with families.
Two main sports clubs are the talk of Leichhardt often, one being APIA Leichhardt Tigers, who play at Lambert Park. They are a football (soccer) club who play in the NSW Premier League, and have rich Italian history.
The other is the West Tigers, formerly the Western Suburbs Magpies, who's home ground is Leichhardt Oval, in the neighbouring Lilyfield.
School Zones
Leichhardt has many schools within the suburb, making it a very easy commutable suburb for families.
There are 4 primary schools within the suburb, Kegworth Public School and Leichhardt Public School for a public primary education.
St Columba's Primary School and St Fiacre's Primary School are both primary schools for a catholic education. All 4 primary schools were established before the year 1900, and have a rich history.
Sydney Secondary College - Leichhardt Campus is within the suburb as well, and popular amongst the adolescent residents of the suburb who attend for a public education.
Newington College, Trinity Grammar, Presbyterian Ladies College Croydon and MLC Burwood are all other common schools for wealthier residents or scholarship students to attend for a private education.
Bridge Road School lies only a short drive down Parramatta Road, at nearby Camperdown for students of special needs.
Demographics
Prior to the mid 1900s, Leichhardt was a working class neighbourhood, which was used to house many of the newer residents. Over the course of the 1940s-1970s, a large number of Italian and Southern European migrants started to develop the suburb.
From the 1970's through to the early 2000's Leichhardt developed into an established suburb that it is today, with many established households and professional workers calling it home.
Despite the established nature of the suburb, household income has still increased by more than 50% over the past 15 years, well above the national average from $1,733 per week in 2006 to $2,673 per week in 2021.
Many of the houses in Leichhardt are owned completely outright or a low loan to value ratio, meaning most of the residents have no stress keeping up with mortgage repayments.
Employment
Close to 65% of residents in Leichhardt hold either professional or managerial roles, which is only increasing the wealth in the neighbourhood.
Healthcare, Finance, IT and Legal Services are all common industries. Many of the employees work within the Sydney University Precinct at Royal Prince Alfred Hospital or Sydney University.
Personal income is close to 70% higher than the national average in Leichhardt at $1,377 per week compared to the national average of $813 per week.
Transport
Leichhardt is services by two stops (Hawthorne and Taverners Hill) of the Inner West Light Rail, which are within the western and northern portion of the suburb.
Petersham Station is the closest station to Leichhardt and services residents in the southern part of the suburb, which service the Inner West and Leppington Line.
There are a large number of bus services in Leichhardt which run along the main roads of the suburb such as Norton Street, Parramatta Road, Tebbutt Street & Darley Road.
Private transport is common amongst many of the families of Leichhardt, most having a single vehicle. Many professional residents in Leichhardt also cycle to work, as it is extremely commutable to the nearby job hubs of Burwood, Camperdown, the CBD and Ashfield.
Shopping Centre's, Restaurants & Facilities
Leichhardt is one of Sydney's most walkable neighbourhoods, considered a walkers paradise according walkscore.com, with a walkscore of 89/100.
Leichhardt is most famous for its acclaimed Norton Street, which is full of award winning restaurants. The annual Italian Festival is hosted in Leichhardt which brings people from all over New South Wales. Marion and Flood Street also hold a smaller pocket of shops, close to Lambert Park.
Two world class sporting facilities are within Leichhardt and neighbouring Lilyfield; Lambert Park and Leichhardt Oval, which host Rugby League, Rugby Union and Soccer, the most popular sports in the suburb.
Shopping is popular in Leichhardt at the nearby Birkenhead Point in Drummoyne or the City at places such as Pitt Street Mall.
There are a few aged care facilities in Leichhardt, which exist within most pockets of the suburb, particularly towards the quieter pockets near Parramatta Road.
Gyms and fitness facilities are common along Norton Street, commonly used by many of the younger residents of the suburb. There are also a number of general health facilities on Norton Street including Dental, Chiropractic and Physiotherapy Clinics.
Development
Many of homes in Leichhardt are either detached, semi detached or terrace houses, which make up close to 70% of the suburb. Apartments and townhouses make up close to 30% of the suburb and exist mostly towards Norton Street and City West Link.
Most of the development in the quieter streets are renovations or redevelopments of existing dwellings. Sometimes homes exist on double lots, which are hot stock for developers all over Sydney.
Unit and townhouse developments are becoming more common amongst the northern end of the suburb, towards City West Link. Many existing red brick apartments are already freestanding in this location as well, which are hot stock for many larger companies and investors.
Capital Growth
Leichhardt is exceptionally located, and one of the Sydney's best performing suburbs for capital growth. It has performed at close to 9.5% capital growth year on year for the past 50 years, with some pockets performing at above 11%.
Most of the better performing homes are in very well held pockets, that have often been passed down through the generations and never sold. Hold periods are sometimes as long as 20 years, adding to stock pressure.
Townhouses and units perform at 6% and 4% respectively. Townhouses are not so common in Leichhardt, hence the data is fairly inaccurate.
Cash Flow
Cash flow in Leichhardt is between 2.7-2.9% for houses, a respectable number for an expensive suburb of the Inner West.
Some homes in the better streets of Leichhardt perform at close to 3.2% yield, as these are often in the highest demand. Some lease for more than $2,000, which is an incredible number compared to the 1990's, where homes averaged closer to $100 per week.
Apartments and townhouses generally yield close to 4%, and are commonly leased by many of the younger residents of the suburb and sometimes students who go to the nearby universities.
Rental Demand
Alike to neighbouring Lilyfield, Leichhardt has a very low vacancy rate, averaging close to 1.4% for houses. Since COVID19, this number has been under 1% consistently and in constant undersupply.
Townhouses and units average close to 2%, and mainly are housed by downsizers and the younger residents of the suburb.
Rents are commonly increasing between 3-4% for houses in Leichhardt, particularly in the pockets between Norton Street and City West link that are in high demand.
Homes that have off street parking and larger blocks are most desired and rarely come to market. As previously mentioned, these are the blocks that sometimes lease for above $2,000 per week.
Why You Require a Buyers Agent in Leichhardt
Leichhardt is a crucial suburb to the heartland of Sydney, the worlds 2nd most expensive city according to Forbes.
Being one of the most in demand cities on earth, key suburbs are often some of the highest demand suburbs in the world. Leichhardt is one of them, with Sydney, Interstate and International Buyers all competing for the same stock.
Leichhardt has had a large short fall in stock in recent decades, moving down more than 50%, with most of the best stock either held on market for long periods or otherwise bought and redeveloped by developers for large profits.
Competition is regularly very strong in Leichhardt too, with a large spillover effect from wealthier buyers from Balmain, Birchgrove, Glebe and the Eastern Suburbs now looking to purchase in Leichhardt, bidding up prices significantly.
Leichhardt also has significantly better pockets than others, performing at very different growth rates. Having a buyers agent in your corner will ensure that you have the right stock at the right price, saving you thousands on the way in and making you millions for years to come.
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