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Redfern

POSTAL CODE: NSW, 2016
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Based on its average 5-year and quarterly capital gains, the suburb saw average growth in the long term.

The suburb also delivered a stronger performance in contrast to other Australian suburbs in terms of appreciation of property value. Investors saw the median home price rise to $2,200,000.

The upward trend in home prices in REDFERN, 2016 averaged 11.38% per annum over a 3-year period.

Average weekly rents on listings have reached the $1050 mark, reflecting a 2.48% increase in returns based on the current median price in REDFERN.

An average of 7.08 real estate transactions take place per month in REDFERN which translates to 85 per annum.

85 properties were sold in REDFERN in 2016, making it the 77th most active market in NSW based on total real estate transactions.

REDFERN, 2016 places 101st in Australia based on median property value growth during the quarter.

Surburb overview

Redfern, NSW 2016, is an inner-city suburb just 3 kilometres south of Sydney’s central business district. It has a diverse history has undergone significant transformation over the years, shifting from a gritty neighbourhood to a vibrant and trendy area popular with young professionals, families, and creatives.

The suburb had a population of approximately 13,072 as of the 2021 census. It is known for its cultural diversity, with 52% of residents born overseas and various languages spoken at home, including Mandarin, Spanish, and Cantonese. The predominant age group is 20-29, reflecting the suburb’s appeal to younger residents. Redfern also has a notable Indigenous population, with Aboriginal and Torres Strait Islander people making up 3.2% of the suburb’s community.

Redfern is well-connected by public transportation, with Redfern railway station being a central hub on the Sydney Trains network. The suburb’s proximity to the University of Sydney and the University of Technology Sydney (UTS) makes it a convenient location for students and academics.

The housing market in Redfern consists of a mix of Victorian terraces, modern apartments, and public housing estates. The median house price is approximately $1,400,000, while the median unit price is $970,000. Rental prices are also high, with houses renting for around $990 per week and units for $790 per week.

Redfern is known for its lively arts and dining scene, with numerous cafes, galleries, and performance spaces contributing to its creative energy. Prince Alfred Park and Redfern Park offer green spaces for recreation. At the same time, the main commercial area along Redfern Street and Regent Street features a variety of shops, eateries, and community facilities.

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