Marrickville is a suburb of Sydney, situated 7km south-west of the CBD and is the heartland of Sydney's gentrified Inner West Council Local Government Area.
Marrickville is one of the largest suburbs in Sydney, with a population of over 25,000 people and one of the most diverse with large populations of Vietnamese, Greek, New Zealand and Chinese Populations.
Marrickville is known for being one of the best suburbs in Sydney for an urban city life. It has a fantastic array of restaurants, pubs and breweries throughout the suburb and is host to many events.
Previously prior to the 2000s, Marrickville had a large component of public housing, however today it is one of Sydney's most recognised suburbs and hot in demand from many professionals.
As a suburb in high demand, Marrickville crossed the $2M mark in 2022, and decade after decade one of the highest performing suburbs for capital growth in Australia.
Lifestyle
Marrickville is a very large suburb with very different pockets. It is perhaps best known for its restaurant scene, pubs and breweries that line pockets of the suburb.
Many locals enjoy spending time in many of the cafes of all different cultures that are sprinkled throughout the suburb as well as the main streets towards the centre of town.
The administrative centre is known for having great restaurants along Illawarra Road and Marrickville Road, particularly Vietnamese restaurants, as Marrickville was one of the first main suburbs where the Vietnamese migrants of the late 1970s and early 1980s settled.
There are many parks within Marrickville which commonly locals can be seen picnicing, exercising and relaxing in. Some of the largest parks include Henson Park, Steel Park, HJ Mahoney Memorial Park and Marrickville Oval. Wicks Park, Mackey Park and McNeilly Park are smaller venues that are commonly more local.
Marrickville is home to a great old town in the administrative centre, with Marrickville Town Hall being a great attraction along with the recently redeveloped Marrickville library. St Clement's Anglich Church is also very popular, and is immaculately maintained which makes for great photos.
School Zones
Marrickville has the most schools in Sydney out of any suburb. There are four public primary schools in Marrickville, which include: Marrickville Public School, Marrickville West Public School, Ferncourt Public School and Wilkins Public School.
For Catholic Schools; St Pius Catholic School and St Brigids Catholic School are also within the suburb.
Marrickville also has two public high schools, Marrickville High School and Casimir Catholic College. The former is particularly popular amongst the Greek community.
Newington College, Trinity Grammar, Presbyterian Ladies College Croydon and MLC Burwood are becoming popular schools amongst the wealthier demographic that are moving into the suburb.
Bridge Road School is about 10 minutes away, at nearby Camperdown and is for students of special needs.
Demographics
Prior to the 2000s, Marrickville was a suburb that many would avoid, due to crime, a large number of public housing and social issues.
In the 1990s, much of the public housing was sold off as a part of the suburbs urban renewal project, which was largely successful. Pockets of the suburb still have public housing, but it is few and far between.
Today, Marrickville is a perpetual hotspot for professionals and young wealthier families looking to move into a commutable suburb with the access to all resources.
The median household income in Marrickville has nearly doubled over the past 15 years, moving from $1,180 per week in 2006 to $2,170 today, largely a testament to the changing demographics of the suburb.
Marrickville is a suburb of mixed densities, with detached and attached houses making up close to 50% of the suburb. Apartments and commercial dwellings make up the other half. Most of the detached houses, above 50% are owned entirely outright and wealth disparity in certain pockets of the suburb is very large.
Employment
Once Marrickville was nearly entirely occupied of labourers, trades workers and machinery operators, working at many of the larger inner west factory hubs such as Alexandria, Tempe and Sydenham.
Today, this is very different, with close to 60% of all employees being professionals or managers. Healthcare, Education, IT and Law are all the most common employers of Marrickville.
Despite having a suburb with a lot of young lifestyle based residents, Marrickville still has a a median suburb personal income of close to 30% above the Australian average. Many family households earn nearly $3,000 per week according to the ABS which creates great ability for discretionary spending.
Transport
Marrickville railway station services the Bankstown line on the Sydney trains network. Dulwich Hill railway station is close to the south western edge of the suburb, which services many of the family homes of the suburb.
The Inner West light rail line services the CBD and other locations in the inner west not serviced by a train line such as Leichhardt and Lilyfield.
Buses run through the main roads of the suburb such as Marrickville Road, Enmore Road, Victoria Road, Illawarra Road and Livingstone Road. Many services run towards the CBD, other parts of the inner west and southern sydney.
Private transport is common amongst the many families of the suburb, as many of these households have two children that often play sport.
Many of the younger residents who live amongst the main roads and cente of town do not have any transport as Marrickville is one of Sydney's most commutable suburbs.
Shopping Centre's, Restaurants & Facilities
Marrickville is one of Sydney's best suburbs for an urban lifestyle and walkability, with a walkscore of 80/100. This score however is not representative of the residential parts of the suburb, as many are commercial, and are not relevant to residents. Most residential pockets have a score close to 90/100.
Marrickville is full of restaurants and cafes, most notable along Illawarra Road and Marrickville Road. Some of the most famous Vietnamese Restaurants are within these locations such as VN Street Foods and Marrickville Pork Roll, which are well known by many of Sydney's world famous chefs.
Pubs are common in this region too, with Marrickville being a great place for a pub crawl, as is local Enmore, Stanmore, and Newtown which all border the suburb. Boutique breweries are very common amongst the industrial part of the suburb towards Sydenham.
Most of the shopping in Marrickville is done amongst the boutique stores of the suburb, and major shopping is generally done either in nearby Burwood or the CBD. The Addison Community Centre has markets every sunday. Food markets are held twice per month at the Marrickville metro.
Sport is common in Marrickville, with the Newtown Jets Rugby League having their home ground at Henson Park, and Randwick-Petersham Cricket Club having their home ground at Marrickville Oval. Soccer, cricket, rugby league and rugby union are all popular sports in Marrickville.
Gyms are common in Marrickville as well, with many sprinkled throughout the main roads of the suburb.
Development
Marrickville is a suburb of mixed development, from residential low density to residential high density, to commercial and shopfront housing.
Many of the dwellings towards Earlwood, Dulwich Hill and Petersham are single detached or attached dwellings. Most of the dwellings towards the main town centre are apartments, with some being on top of shop top housing.
Commercial developments are common amongst the Sydenham side of the suburb, with some mixed commercial and residential being newly developed close to the station.
Most of the best development stock in Marrickville is held extremely tightly or is met with intense demand. Much of this stock is only larger existing above 600m2 and more than 100 years old.
Capital Growth
Marrickville is a top suburb for capital growth, performing at close to 9.5% capital growth year on year for the past 50 years.
The key crucial component of Marrickville is that it is an extremely large suburb. Many pockets are known to perform at close to 12%, though others may only perform at close to 7%. Generally the tighter held pockets are much higher performing, and stock is very scarce.
Townhouses perform at close to 6.4%, and units usually between 4-4.5%. Generally the original red brick/tile units in the established pockets of the suburb are the top performing.
Cash Flow
Houses in Marrickville generally yield close to 3%, however can move towards 3.5% in well located and maintained dwellings.
Apartments and townhouses yield roughly 4%, which is fairly consistent throughout each pocket of the suburb.
It should be noted that houses in particular sometimes are divided up into multiple units in Marrickville. Some of these homes yield above $3,000 per week and were previously bought for less than $200,000.
Rental Demand
Due to incredibly constant demand, Marrickville houses have the lowest vacancy rate of any suburb in the inner west. Home generally have a vacancy rate of 1%, which is in constant undersupply.
Townhouses and units have vacancy rates closer to 1.4%, which is still incredibly low considering the amount of stock that exist within the suburb.
Rents have the strongest consistent growth of any suburb in Sydney in Marrickville over the past 15 years. They have more than doubled from $500 per week in houses to now above $1,100 per week.
Many of the existing stockholders and developers in Marrickville now have multiple dwellings and incredible property portfolios
Why You Require a Buyers Agent in Marrickville
Marrickville is one of Sydney's most livable suburbs and one of also the best suburbs to invest in all of Australia.
Marrickville appeals to the owner occupier and tenant due to its livability, the investor due to its capital growth and rental return, and the developer due to the large residential, commercial and mixed upside that the suburb offers.
Being one of Sydney's largest suburbs, Marrickville is compromised of many different pockets, which all perform very differently. Making a mistake in purchasing in the wrong pocket can cost millions for years to come.
A key mistake of many investors and purchasers is purchasing the wrong asset in Marrickville. Each pocket has very different stock that highest in demand. Some pockets detached dwellings on larger blocks are hot in demand, where as others smaller cottages with two bedrooms and a small courtyard are best.
Competition in Marrickville is also fierce, with most homes selling at auction, many prior to the commencement of auction. Most campaigns only last 3 weeks, meaning stock often sells very fast - some of the fastest in Australia.
Having a buyers agent in Marrickville will ensure that you have a step ahead of the competition, are purchasing the right property at the right price in the right pocket of the suburb. With a suburb median of more than $2M, this equates to saving hundreds of thousands of dollars purchasing and making millions for years to come.
Why not seek Professional Advice from one of our Buyers Agents
We are unbiased market investors, who will put you first.
We treat every deal for your portfolio as if it were our own.
We will give the time to understand every clients situation & needs.
Our performance is unparalleled in the industry.
We have a background in Finance, Banking, Mortgages, Leveraging, Taxation & We are Present Market Investors.
We are precise down to the level of the suburb, street & house for greater performance.
The cost of our service is nearly half of what many industry professionals charge, yet their results do not represent value for the cost of their services.
Phone: (02) 9136 0263
Email: admin@compoundinvest.com.au
Comments