Alexandria Named A Top 100 Suburb To Watch In 2024
Alexandria was recently named one of the Top 100 suburbs to watch in 2024 by realestate.com.au, and we couldn’t agree more.
Here’s why buyers should put this inner-city Sydney suburb on their shopping list this year.
Top 100 suburb to watch
Alexandria was one of just 20 NSW suburbs chosen for realestate.com.au’s Top 100 list. Realestate.com.au selected Alexandria for three reasons, “location, lifestyle and amenity”: features we know our area has in abundance.
The decision to choose Alexandria was made by a panel of industry experts who were asked to nominate the suburbs they expected to see growth in. Rich Harvey from Propertybuyer chose Alexandria for the second year in a row.
He argues that while Alexandria is already at a “mature stage of gentrification” it still offers the potential for future growth.
“The suburb has evidenced great property growth over the last 10 years and we can expect more young families, singles and couples to be attracted to the area which should bode well for long-term property growth and strong rental returns,” Harvey said.
We couldn’t agree more. Alexandria is buzzing with restaurants, cafes and plenty of green space (including Sydney Park - the third largest park in Sydney). It’s also well-connected, with access to several train stations and the new metro station plus easy connections to the M8.
While it used to fly under the radar, Alexandria is no longer a secret. We see people who may have once bought in Paddington, Surry Hills, Newtown or even Erskineville, looking at the terraces, semis, warehouse conversions and apartments of Alexandria.
In recent years we’ve also seen an increasing number of downsizers attracted to the suburb’s cosmopolitan vibe, alongside young families and investors.
A suburb on the rise
At the end of 2022 we wrote about the huge capital growth Alexandria has experienced. In fact, in the last 30 years, Alexandria has been one of Sydney’s - and Australia’s - best-performing suburbs.
Alexandria’s median house value went from $157,000 in 1993 to $1,850,000 in 2022 - a rise of almost 1,200%. While the Sydney-wide median also recorded exponential rises over the past three decades, increasing 550% from $188,050 to $1,036,727, prices in Alexandria lifted at more than double this rate.
Over those three decades, Alexandria also transformed from an industrial to a residential area, with a great lifestyle, excellent infrastructure, and growing amenities.
This happened at the same time as inner city living became fashionable, with people prizing walkability and convenience. Green Square station was built, and the area around it developed as new buildings sprang up or were repurposed. Cafes, restaurants and bars followed, and now define our area.
And despite its incredible growth and impressive lifestyle, Alexandria remains comparatively affordable for inner-city Sydney, with first-home buyers able to find amazing gems under the price caps for government grants and schemes.
The data on Alexandria
Realestate.com.au backed up its Top 100 selections with PropTrack data showing demand outstripping supply in Alexandria.
This has helped contribute to excellent capital growth over the past 12 months, as the table below taken from PropTrack shows.
| Property type | Median price | Annual change | Supply | Demand |
|---|---|---|---|---|
| House | $1,963,000 | 9.0% | -1.8% | 23.7% |
| Apartment | $888,000 | 4.4% | -4.3% | 4.6% |
It’s also good news for investors, with rents rising by just over 16% in 2023.
This has contributed to yields of 4.6% on houses and 2.9% on apartments, as well as low vacancy rates of 1.5% for apartments and 0.8% for houses.
Want more?
Contact our team today to find out more about how we can help you buy and sell in Sydney’s inner city and inner west, including Alexandria.
