For a majority of Sydneysiders, Surry Hills defines the inner-city living lifestyle of the buzzing city. It is where Sydney keeps its hip and quirky side, a place where the local spirit prevails by means of coffee, high-end clothing, and city culture. It is where the trendsetters sit on their terraces as they watch the tones they set capture the essence of Sydney living. Buying real estate in Surry Hills is like buying a ticket to the hip side of Australia, and today we discuss why buying that ticket is worth every dollar.
Real Estate in Surry Hills: By The Numbers
A real estate property in Surry Hills is highly-sought after by most investors today, thanks to the never ending energy that surges the area. Its elite status certainly helps increase its value, and the local culture keeps it afloat. If you are thinking of buying here, the median property price of a Surry Hills house at the moment is $1,802,500 and for rentals it is $900 per week. Now while this might seem a little pricey for some, keep in mind that Surry Hills is in Sydney, and living in a global city has its benefits when it comes to lifestyle and property value. As a high wealth area, the median weekly income of Surry Hills households is at roughly $2200, above the country average of $1438. And while the whole of New South Wales averages 851 visits per property on a regular basis, Surry Hills averages 925, which means that the area has a high-demand market.
(Data from Realestate.com.au)
Why Choose Surry Hills
For those who are investing, real estate in Surry Hills is very enticing since this suburb has a little bit of everything. The high-end suburb is mostly composed of residential and commercial spaces, keeping up alongside its light industrial areas. It is Sydney’s main hub for wholesale fashion activities, something it retained from its role in the country’s rage trade since way back. Its edgy style is contrasted by its coffee culture, as you can find quality coffee shops and upscale boutiques all over the area while walking through its colorful street arts and tree-laden paths.
After strolling around for the sights, restaurants and cafes are open to satisfy cravings and give delight to locals and weekend tourists alike. Shop along the stores of the famous Crown Street, where high-end boutiques and vintage stores line up with the rest of the amazing pop-ups. As beautiful as its daytime, Surry Hills is also known for its nightlife that is mostly generated by a massive number of pubs that welcomes everyone, especially on Friday Nights. The area’s art, culture, and young energy are just some of the driving forces that strengthen it, amidst its calm demeanor, keeping the lifestyle thrilling and the property value strong.
Surry Hills is home to long-time residents and wealthy newcomers, with 3.6% of its total population being Chinese. There are also numerous notable schools for all levels, and it houses the Sydney campus of the Australian Institute of Music.
All in all, buying a house in Surry Hills is an opportunity to bask in its youth and invest in a high-demand market. With its strong and independent identity, it is no surprise that it is one of the most sought after suburbs in the country.
Other Popular Suburbs in New South Wales
Other Regions in Australia
Other locations in Australia are equally as desirable as New South Wales. Choose a region below to find out the best locations in the area. If you need information on the real estate buying process for foreigners in Australia, check our Foreign Investor's Guide.
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