This article is from the Australian Property Journal archive
WESTERN Sydney is home to Sydney’s most liveable and affordable suburbs, taking out all five of the top spots.
According to McCrindle Research’s new Liveability Index, Western Sydney includes the liveable and affordable places to live out of 359 assessed Sydney suburbs.
Parramatta North pulled into the top spot, followed by North Parramatta, with third place a draw Petersham, Stanmore, Wentworth Point, Sydney Olympic Park and Homebush.
The factors used to evaluate suburbs across Greater Sydney to rank liveability included community engagement, arts and recreation, transport infrastructure, access to retail and dining, education, labour force participation and the affordability of both rents and mortgages.
“This study demonstrates that areas of high liveability are well connected to public transport and infrastructure, with good access to education and employment. They are arts, culture, and retail hubs. Affordability and a diverse and vibrant community are also key,” said Sophie Renton, managing director at McCrindle Research.
“By measuring intangibles and putting metrics to social infrastructure, this index places value on the cultural, social, and aesthetic aspects of our communities. The Liveability Index offers guidance for residents around ideal places to live and also gives direction for future development.”
Sydney’s population has seen an additional 650,900 people over the last decade, with Australia’s largest city expected to reach a population of 6.1 million by 2041.
“Residential areas situated near employment hubs such as St Leonards and Bondi Junction are strong by measures of amenities and employability, but unaffordability can be an obstacle – making them out of reach for many,” added Renton.
“Similarly, suburban expansion areas on the fringe of Sydney such as Marsden Park are affordable and provide families with ample space to grow, but amenities and connectivity remain key challenges.”
Sydney’s second CBD, Parramatta, is delivering its neighbouring suburbs access to local employment opportunities and its expansive commercial, retail and dining offerings.
While Wentworth Point is a relatively new urban precinct on Homebush Bay, connected to Rhodes by Bennelong Bridge and rezoned for residential use in 2004.
Wentworth Point is far more affordable than other locations ranking high on the liveability scale, despite its amenity and connectivity to public transport, with median monthly mortgage repayments at $3,500 and average rents at $652 per week.
“Considering its proximity to waterfront and outdoor recreation space, Wentworth Point’s relative affordability makes it a desirable area for its young and highly-engaged community,” added Renton.
“We aren’t surprised at how high Wentworth Point ranks when compared to other suburbs across Sydney, but we now have independent data to support this. Billbergia aimed to deliver a vibrant and connected precinct through community focused design, place-making, and transport-oriented development,” said John Kinsella, managing director at Billbergia, who have developed 3,000 apartments in the precinct.
