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Abbotsford

POSTAL CODE: VIC, 3067
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Property investments in ABBOTSFORD did not fare well against the rest of the country last year, registering a median home price decrease of 2.95%.

Figures from the previous quarter show that capital gains for real estate buyers in the territory are low, as opposed to average gains per annum over the past five years.

Based on its average 5-year and quarterly capital gains ABBOTSFORD, 3067 saw average growth in the long term.

Real estate investors could earn a rental income of $840 based on current median home prices for the suburb.

It is expected, nonetheless, for properties to spend some time on the market prior to a successful sale. homes and units usually stay on listing for an average of 48.9 days.

Besides that, the Australian suburb also delivered a stronger performance in contrast to other Australian suburbs in terms of appreciation of property value.

Property investors perceived the median home price rise to $1,274,000.

ABBOTSFORD ranks 328th on the list of best yielding suburbs for rental properties in VIC, posting a 3.43% return.

Surburb overview

Abbotsford is a suburb on the Inner West of Sydney and part of the local government area of the City of Canada Bay. Located 10 kilometres west of the Sydney CBD, the suburb occupies 200 hectares of land and is bounded by the Eastern Freeway in the north, the Yarra River in the east, Victoria Street in the south, and Hoddle Street in the west.

ABOUT ABBOTSFORD

History

Before becoming the gentrified region that it is in the 21st century, the Inner West was home to the Darug people, which was divided to the Cadigal and Wangal clans. The clans occupied the land along Port Jackson, from South Head to Lewisham, as well as the land stretching to Homebush Bay.

The earliest European settlements in the land now occupied by the Inner West dates back to 1790s, when the first land grants were made. Most of the residents in the area used to make a living through farming and timber-getting. 

The Municipality of Strathfield and Burwood derived their names from an early property in the respective areas. Their names were adopted upon the incorporation of the municipalities in the 1880s and 1870s, respectively. Canada Bay, on the other hand, was named in commemoration of a group of 58 French-Canadian exiles sent to New South Wales and held in the Longbottom Stockade on Parramatta Road in Concord after the 1838 rebellion in Canada.

Abbotsford was first known as Bigi Bigi, its Aboriginal name. Once Europeans settled, the suburb became part of the Five Dock Farm. When it was subdivided in 1837, it was then called Feltham.

The suburb finally got the name Abbotsford when philanthropist, doctor and politician Sir Arthur Renwick built his home on the land in 1890 and named it after the Abbotsford House in the United Kingdom, the residence of historical novelist and poet Sir Walter Scott. The house was sold and consequently became the site of a Nestlé chocolate factory in 1918, before being redeveloped in 1991 as the medium-density Abbotsford Cove housing complex following the closing of the factory.

In the 1850s, the minimal population of the Inner West region grew significantly as a result of land subdivision and improved access through the Sydney-Parramatta railway line. From 1870s to 1880s, there has been significant residential and industrial growth across the area, followed by a continuous expansion from the post-war years through to late 1960s. Immigration and gentrification led to the rise of the apartment market.

Inner West’s population continued to expand in the 1990s, aided by high- and medium-density housing.

Demographics

As of 2019, Abbotsford is home to 10,088 people, with an average population density of 50.31 persons per hectare. Australia-born citizens represent 64.0 per cent of the local population, with other residents born in Italy, England and China. About 66.0 per cent of people spoke only English at home, while others Italian, Mandarin, Cantonese and Greek.

Famous residents

Among the most notable personalities living in Sydney’s Inner West are visual artist and critic Pia Larsen, fashion designer and retailer Dee Heagney and Bentley, Monopole, Yellow and Cirrus restaurants co-owner Nick Hildebrandt.

LIFESTYLE

At the heart of Abbotsford is Abbotsford Convent, a former monastic site that was transformed to Australia’s largest multi-arts precinct, featuring 11 historic buildings and gardens spread across 16 acres of land. Today, the Convent has over 100 studios, galleries, cafés, a radio station, a school, and an abundance of green open space.

Families, young couples and urban workers alike are attracted to Abbotsford’s low-key green lifestyle, as well as its easy access to the city.

Public transport

In most council areas in Sydney’s Inner West, the top modes of transportation are cars (as drivers), trains, buses, ferries and light rail.

Sydney Trains Airport and Inner West & South Line runs south of Parramatta Road to Strathfield and to Macarthur via Granville, while the North Shore and Northern & Western Line follows the same route to Strathfield before it branches off to the north to Epping, stopping at North Strathfield, Concord West and Rhodes. The Bankstown Line services Erskineville, St Peters, Sydenham, Marrickville and Dulwich Hill, while the Dulwich Hill line connects Pyrmont, Glebe, Lilyfield, Leichhardt and Lewisham to Central railway station.

State Transit provides most of the bus routes across the Inner West, while ferries are mostly operated by Sydney Ferries, servicing the inner harbour and Parramatta River.

Bicycles have also been a part of the overall transport task since the 1990s. Bicycle paths and routes run through Five Dock to the Anzac Bridge cycleway (East-West route), Gladesville Bridge to Anzac Bridge (Northwest route) and Marrickville to the City via Newtown (Southwest route). 

The City of Canada Bay is served by the Western Motorway, Parramatta Road and the main northern railway line

Schools and universities

Some of the most notable schools across Sydney’s Inner West are:

  • Abbotsford Public School
  • Newington College (Inner West’s oldest school, 1863)
  • Rosebank College (Inner West’s second oldest school, 1867)
  • Sydney College of the Arts - the University of Sydney (Rozelle Campus)
  • Sydney TAFE (Petersham College and Design Centre Enmore)
  • University of Tasmania (School of Medicine Rozelle Campus)

Hospitals

Among the major hospitals in the Inner West are:

  • Balmain Hospital
  • Yaralla Estate (Dame Eadith Walker Hospital)
  • Concord Repatriation General Hospital

Landmarks

Some of the major landmarks across Sydney’s Inner West are:

  • Parramatta River
  • Barnwell Park Golf Club
  • Concord Golf Club
  • Massey Park Golf Club
  • City of Canada Bay Museum
  • Strathfield Park
  • Sydenham Green Tempe Recreational Reserve
  • Haberfield heritage conservation area
  • Harbour Circle Walk

Shopping centers

Some of the major shopping centres and shopping districts across Inner West are:

  • Great North Road
  • Birkenhead Point Outlet Centre
  • Rhodes Waterside Shopping Centre
  • Westfield Burwood Shopping Centre

Sports and recreation

Rugby League is arguably the most popular sport in the Inner West, as well as most parts of Sydney and New South Wales.

Aside from the Rugby League, Sydney’s Inner West also participates in semi-professional soccer in the various divisions of the NSW State Leagues. Among the most notable clubs are the NSW Premier League and the APIA Leichhardt Tigers.

Some of the sports centres in Sydney’s Inner Wests are:

  • Concord Golf Club
  • Drummoyne Oval
  • Erskineville Oval 
  • Sydney Homebush Street Circuit
  • Leichhardt Oval 
  • Sydney Olympic Park (including Sydney Olympic Park Athletic Centre, Sydney Olympic Park Hockey Centre, Sydney Showground-Olympic Park, Sydney Showground Stadium, Sydney Super Dome).
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