Previously a hub for industry, Alexandria has undergone a huge residential transformation in the past 20 years.
The population has increased due to the number of singles, young couples and growing families wanting to call the area home, alongside the boom in new unit and townhouse developments. Here’s a look at the demographics of the inner city, the changing property market and what this means for those looking to buy.
Alexandria suburb profile
Sandwiched between Waterloo, Mascot, Beaconsfield, St Peters, Erskineville and Eveleigh, Alexandria has access to some of Sydney’s most popular inner-city suburbs, as well as being a highly sought after pocket in the city in its own right. New developments that have cropped up in the last two decades have transformed Alexandria, forming a diverse community spanning international students, young professionals, families and established homeowners. The cafes, restaurants and shops have followed, and the result is a population that has skyrocketed 41.1% between the 2006 and 2016 censuses.
Alexandria by the numbers
Median age: 33
Median house price: $1.69m
Median unit price: $756k
Who lives in Alexandria?
Alexandria’s population has for some years now been skewed towards a younger demographic, with the median age of 33 unchanged since the 2006 census. While there are many older homeowners who’ve lived in the suburb for decades, others choose move on to other areas where they can have a bigger backyard.
Proximity to the CBD is key for residents in the inner city, with many choosing Alexandria to be closer to work. According to the Australian Bureau of Statistics, professionals account for 40.6% of the suburb’s workers, up from 36% in 2006.
While English is the primary language for 72.1% of households, the increase in Mandarin and Cantonese is reflective of the growing Australian Chinese population, spoken in 2.7% and 1.7% of households respectively.
A place for families in the inner city
Alexandria has seen a significant shift in its perception as a place to raise a family, which is reflected in both the rise of young families and new school developments. In 2000, schools in the area were close to shutting down, but now a new $60M high-rise “super school” for 1500 students has been planned for Alexandria, to meet a huge undersupply of schooling in the inner city.
Statistics that cover both Alexandria and neighboring Beaconsfield show households with children, and young children in particular, continue to grow, up from 17.2% in 2006 to 19% in 2016.
Units and new developments in Alexandria
With the addition of many new apartment blocks across Alexandria over the past decade, it’s no surprise that units dominate the property landscape. In 2016, units accounted for 61.3% of Alexandria’s dwellings, up from 56.5% in 2006 and a stark contrast to the 19.9% average across New South Wales. Apartments and townhouses offer a great entry point to the market for first homeowners or those looking to buy closer to the city.
Buyers looking to add investments to their portfolio might also find success in Alexandria’s strong rental market, where 50.3% of properties are rented, up from 42.3% in 2006.
The Green Square development will bring even more opportunities to buy in to the area, with 61,000 residents expected to live in 30,500 properties in Green Square by 2030. New transport links will be built to support this growth, including a new metro station at Waterloo.
Buying houses and terraces in Alexandria
Standalone houses are rare in the inner city, representing just 3.4% of Alexandria properties, and prices are standing firm due to high demand. The classic terraces, semis and cottages that line the quieter back streets are a good middle ground for those wanting more space and a small yard, accounting for 34.1% of all dwellings.
Looking to buy in the inner city? Get in touch with me today.