Policy failures see houses become unattainable for young Australians, minister says
Australia’s booming house prices are the result of the government’s failed policies, with the younger generation now...
The changing face of Redfern has seen demand for residences in the suburb skyrocket over the past decade, with more investors looking to claim their slice of the pie.
According to Stuart Cox, director, residential site sales at Savills Australia, Redfern’s transformation from a low socio-economic suburb into a “vibrant, trendy suburb often used as an idol for gentrifying suburbs”, has seen it become one of Sydney’s most desirable areas to live, work and play.
Mr Cox said Redfern is highly desired by both young professionals and families looking to invest as it offers close proximity to the Sydney CBD, access to transport from Redfern railway station and amenities in the form of schools, universities, health facilities, retail centres and strip shopping as well as sport and entertainment destinations.
“Redfern has undergone significant gentrification in the last decade and now proudly presents as one of Sydney’s most desirable city fringe suburbs adjoining the affluent Surry Hills” he said.
Neil Cooke, director, residential site sales at Savills Australia, offered a similar sentiment, noting Redfern is revered for its distinctive lifestyle yet still maintains its unique village charm.
“The suburb boasts an endless list of bars and restaurants, is a short level stroll from Sydney Entertainment Quarter and moments from the Sydney CBD and Darling Harbour,” Mr Cooke said.
“These immeasurable conveniences and associated lifestyle are what keep Redfern residents so captivated through an exciting period of transformation.”