Surry Hills, located in postcode 2010, is an eclectic inner-city suburb situated immediately south-east of Sydney's central business district (CBD). Its history dates back to the early 19th century when it was originally a working-class neighborhood. However, over the years, Surry Hills has undergone significant gentrification, transforming into a vibrant hub known for its trendy cafes, restaurants, boutiques, and cultural diversity.
One interesting fact about Surry Hills is its rich artistic and bohemian heritage, with many of its historic buildings now converted into trendy apartments, galleries, and creative spaces. The suburb has a mix of old-world charm and modern amenities, attracting a diverse mix of residents.
The gentrification of Surry Hills has led to substantial improvements in infrastructure, housing stock, and overall livability. This transformation has resulted in a surge in property prices over the past few decades, making it a sought-after location for both homeowners and investors.
Lifestyle
Surry Hills boasts several parks and green spaces, including the popular Prince Alfred Park and Harmony Park, providing residents with opportunities for recreation and relaxation. The suburb's vibrant lifestyle revolves around its bustling cafe culture, with numerous specialty coffee shops and eateries lining its streets. Residents also enjoy exploring the area's trendy boutiques, art galleries, and cultural institutions.
Popular activities in Surry Hills include walking and cycling, with dedicated bike lanes and pedestrian-friendly streets making it easy to get around. The suburb hosts various events and festivals throughout the year, such as the Surry Hills Festival, showcasing local talent, food, and entertainment.
Pets are indeed popular in Surry Hills, with many residents taking advantage of the neighborhood's pet-friendly parks and designated off-leash areas. Local cafes and restaurants often cater to furry companions with outdoor seating and water bowls.
School Zones
Surry Hills falls within the catchment areas of several public primary schools, including Crown Street Public School and Bourke Street Public School, as well as nearby catholic primary schools such as St. Michael's Catholic Primary School. For secondary education, students may attend Sydney Boys High School or Sydney Girls High School, both prestigious selective schools located nearby.
Exclusive independent private schools favored by affluent families in the area include Sydney Grammar School and SCEGGS Darlinghurst. The closest school for students with special needs is Aspect Vern Barnett School in nearby Woolloomooloo.
Demographics
According to ABS census data, the median weekly household income in Surry Hills has shown steady growth from 2006 to 2021, reflecting the suburb's increasing prosperity. The percentage of families in the suburb is relatively high, indicating a mix of both families and young professionals.
Surry Hills is known for its cultural diversity, with significant populations of residents from various ethnic backgrounds, including Anglo-Celtic, Asian, and European communities. The suburb's average income exceeds the Australian average, indicating a relatively affluent population, with wealth continuing to increase over time.
Employment
A significant percentage of Surry Hills residents are professionals and managerial employees, reflecting the suburb's proximity to the CBD and its appeal to white-collar workers. Major employers in the area include creative agencies, tech startups, hospitality businesses, and educational institutions.
The main industries of employment in Surry Hills include media, advertising, design, hospitality, and education. Many residents commute to neighboring suburbs for work, with easy access to public transportation options.
Emerging employment trends in Surry Hills include the growth of the creative and digital sectors, driven by the influx of startups and small businesses in the area.
Transport
Surry Hills is well-connected by public transport, with main bus routes running along Elizabeth Street and Cleveland Street, providing access to various destinations across Sydney. The suburb is also serviced by Central Station, a major transport hub offering train services to the CBD and beyond.
Additionally, bike lanes and bicycle paths make cycling a popular mode of transportation in Surry Hills. Private transport is less common due to limited parking availability and traffic congestion in the area.
Shopping Centre's, Restaurants & Facilities
Surry Hills boasts a high walk score, with a wide range of amenities within walking distance for residents. Local shopping precincts such as Crown Street and Oxford Street offer boutique shops, specialty stores, and supermarkets for everyday needs.
The suburb is renowned for its diverse culinary scene, with popular restaurants, cafes, and bars catering to various tastes and preferences. Residents also have access to recreational facilities such as gyms, yoga studios, and community centers for sports and leisure activities.
Surry Hills is home to several social clubs and sporting facilities, including local swimming clubs and parks for outdoor recreation. One unique feature of the suburb is its thriving arts and cultural scene, with numerous galleries and performance spaces showcasing local talent.
Development
Surry Hills features a mix of dwellings, including terrace houses, apartments, and converted warehouses. Common developments in the area include boutique apartment complexes and heritage renovations, catering to both owner-occupiers and investors.
Knock-down rebuilds and renovations are prevalent in Surry Hills, reflecting the suburb's ongoing transformation and demand for modern living spaces. Subdivision opportunities are limited due to the dense urban fabric of the area.
Development has occurred primarily in central locations close to amenities and public transport, with a focus on enhancing the suburb's urban character and lifestyle appeal.
Capital Growth
According to CoreLogic data, Surry Hills has experienced robust capital growth for houses, townhouses, and units over the past decade. The suburb's better pockets, particularly those close to parks and amenities, have seen the highest growth rates, driven by strong demand from buyers and investors.
Factors driving capital growth in Surry Hills include its prime location, lifestyle amenities, cultural diversity, and ongoing urban renewal. The suburb attracts a mix of buyers, including young professionals, families, and downsizers, seeking a cosmopolitan lifestyle within close proximity to the CBD.
Cash Flow
The average cash flow for houses in Bellfield, as measured by yield, is moderate compared to other suburbs in Melbourne. While rental yields may vary depending on property type, location, and market conditions, investors can expect stable returns from leasing residential properties in Bellfield.
Townhouses and units in Bellfield offer competitive yields, appealing to tenants seeking affordable and low-maintenance living options close to amenities and public transport. Common tenants of leased properties in Bellfield include young professionals, students, and families attracted to the suburb's affordability and convenience.
Rental Demand
Vacancy rates for houses, townhouses, and units in Surry Hills have remained low over the past decade, indicating strong rental demand in the area. Since the COVID-19 pandemic, vacancy rates have further decreased, with heightened interest in inner-city living and flexible work arrangements driving demand for rental properties.
Factors contributing to rental demand in Surry Hills include its central location, proximity to amenities and employment hubs, and diverse housing options. Decreased rental stock levels are attributed to limited new supply and high demand from tenants.
Why You Require a Buyers Agent in Surry Hills
Competition for properties in Surry Hills is fierce due to high demand and limited stock levels, making it challenging for buyers to secure desirable homes without professional assistance. Stock levels are constantly low due to the suburb's popularity and limited opportunities for new development.
One unique reason why Surry Hills is a good place to buy is its enduring appeal as a lifestyle destination, offering a vibrant mix of culture, amenities, and convenience. With the help of a buyer's agent, buyers can navigate the competitive market more effectively and secure their dream home in this sought-after suburb.
Having a buyers agent in your corner is crucial to your success in Surry Hills. Having the knowledge, strategy, access and negotiation ability will ensure you save thousands on the way in and make potentially millions in the future.
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