Most Popular Property Types In Sydney’s Inner City And Inner West

June 14th, 2024 - by Brad Gillespie

Sydney’s inner city and inner west are some of the highest density areas in all of Australia.

But what does that mean for how we live and the type of property we want to live in? We explore the most popular property types in our part of the world.

Where do we live?

The type of property we live in varies from suburb to suburb. However, one thing that is noticeable is just how few freestanding houses - and how many apartments - our area has compared with the State averages.

In fact, postcode 2017, which includes Waterloo and Zetland (i.e. Green Square) has the lowest number of freestanding homes and highest number of apartments anywhere in Sydney outside of the CBD itself.

Even Marrickville, which is the suburb that has easily the highest number of freestanding homes (32.0%), has less than half the State average (65.6%). Meanwhile, Newtown dominates for terraced houses, townhouses and semis, with more than half of properties (50.9%) falling into the category.

Postcode Freestanding houses % Terraces, semis and townhouses % Apartments
NSW average 65.6% 11.7% 12.6%
2015 (Alexandria, Beaconsfield, Everleigh) 5.6% 29.6% 63.6%
2016 (Redfern) 1.4% 28.6% 68.1%
2043 (Erskineville) 3.2% 34.5% 61.7%
2017 (Waterloo, Zetland) 0.4% 7.6% 91.7%
2046 (Newtown) 7.6% 50.9% 38.2%
2204 (Marrickville) 32.0% 18.3% 47.3%

* Source: Census 2021 Data

What sells?

While these figures may show the composition of each suburb’s property market, it’s also interesting to find out how this is reflected in sales volumes.

Here, it’s worth noting that far more apartments than houses get sold across Sydney’s inner city and inner west. For example, 76% of properties sold last year in Alexandria were apartments even though they comprise 63.6% of housing stock.

There’s a good reason for this, too. We tend to hold onto houses longer than we do apartments: across Sydney the average house is held for 12.4 years, while the average apartment is held for the Sydney average is held for 9.6 years.

In other words, apartments come onto the market more often. This could go some way to explaining why the gap between apartment and house prices is growing.

The other thing worth noting is that you’re looking for certain properties - say a five-bedroom home in Waterloo - you may have to wait a long time before one comes on the market. Just four properties with four or more bedrooms sold in the suburb over the last year. Conversely, there were 52 sales of houses with four or more bedrooms in Marrickville in the past 12 months.

Properties sold in the past 12 months

Suburb One bedroom apartments and studios 2 bed apartments 3 bedroom apartments 2 bedroom houses 3 bedroom houses Four bedroom + houses
Alexandria 86 74 15 15 25 15
Erskineville 59 74 12 30 26 6
Waterloo 113 183 32 5 5 4
Rosebery 60 131 35 5 24 26
Camperdown 74 60 4 17 26 11
Newtown 70 37 2 75 53 27
Marrickville 53 115 14 47 77 52
Chippendale 63 47 12 - 4 3

Source: Domain suburb profiles

What are we searching for?

Finally, realestate.com.au recently released data that shows what people are searching for in each suburb.

Two bedroom houses seemed to be the most popular search in most of Sydney’s inner city and inner west - although Rosebery was a standout, with five bedroom/four bathroom homes in most demand.

Meanwhile, the most popular apartment size varied between two and one bedrooms depending on the suburb.

Interestingly, this doesn’t always correspond with the most common property types.

For instance, in Alexandria, the most popular apartment search was for two bedroom/two bathroom homes, even though more one bedroom apartments were sold.

Similarly, in Marrickville, the most common house search was for homes with two bedrooms and one bathroom, even though almost three times as many three and four bedroom homes were sold.

This statistic helps show why prices in some parts of the market can move ahead more quickly than others. For instance, according to Domain, last year, two bedroom house values in Marrickville rose 10.5% compared with 7.5% for three bedroom houses. Meanwhile, in Alexandria, two bedroom apartment values lifted 4% while the value of one bedroom apartments fell -0.4%.

Suburb Most searched for house type (bedrooms, bathrooms, parking spaces)  Most search for apartment type (bedrooms, bathrooms, parking spaces)
Alexandria 3 2 1 2 2 1
Erskineville 2 1 0 2 2 1
Waterloo 2 1 0 2 2 1
Rosebery 5 4 2 2 2 1
Camperdown 2 1 0 1 1 1
Newtown 2 1 0 1 1 1
Marrickville 2 1 0 2 1 1
Chippendale 3 1 0 1 1 0

* Source: realestate.com.au

Want more?

If you’d like to find out more - or receive an accurate appraisal of the real market value of your property - get in touch.