Get a property report and suburb profile for any property in Balmain

Balmain is a delightful suburb that offers a unique blend of historic charm and modern convenience, making it a wonderful place to live. Nestled on the Balmain Peninsula, this suburb is known for its vibrant community spirit and picturesque waterfront views. The area exudes a lively yet relaxed vibe, with its bustling village atmosphere and a plethora of cafes, pubs, and boutique shops that line the streets. Families will find Balmain particularly appealing due to its strong community feel and excellent amenities, including parks and green spaces that provide plenty of opportunities for outdoor activities.

Safety is generally not a major concern in Balmain, as it maintains a welcoming and secure environment for its residents. The suburb is well-connected to Sydney's CBD, making it an attractive choice for professionals who appreciate the convenience of public transport options, including ferry services. While Balmain offers a fantastic lifestyle, it's important to consider that the demand for property in this sought-after location can lead to higher housing costs. Additionally, the ongoing developments in and around the suburb may bring some changes, but they are likely to enhance the area's appeal further.

For families, Balmain provides a supportive environment with access to good schools and a range of recreational activities. The suburb's rich cultural heritage and community events add to its charm, making it a desirable place for those who value both history and modern amenities. While the trade-offs may include higher property prices and potential changes due to development, the overall lifestyle and community spirit make Balmain a truly nice place to live for families and individuals alike.

Living in Balmain is undeniably on the pricier side, especially when compared to other Sydney suburbs. The median house price in Balmain is a staggering $2,395,000, while units aren't much cheaper at $2,250,000. This places Balmain well above the average property prices in Sydney, highlighting its status as a premium location.

When it comes to renting, the costs are also steep. The average rent for houses is about $995 per week, and for units, it's around $800 per week. These figures suggest that a significant portion of income would need to be allocated to housing expenses if you're considering living in Balmain.

Comparing these costs to the average wage in Sydney, which is approximately $108,000 per year, it's clear that Balmain's high property prices and rental rates could be challenging for those earning an average salary. However, the suburb offers a charming lifestyle with its waterfront views, vibrant community, and proximity to the city, which might justify the expense for some. If you're thinking of living in Balmain, it's crucial to evaluate your financial situation to ensure it aligns with the costs associated with this desirable suburb.

Balmain presents an interesting opportunity for property investors, particularly those interested in units. Over the past 12 months, the median unit value in Balmain has increased by 6.1%, indicating a strong demand for this type of property. This growth suggests that units in Balmain are becoming more desirable, possibly due to their affordability compared to houses and the lifestyle the suburb offers.

While the median house value and rent for houses have remained stable over the past year, this stability can be appealing for investors seeking a low-risk investment. The suburb's charm, with its historic architecture and proximity to the Sydney CBD, continues to attract both renters and buyers. The slight increase in unit rents by 2.6% also points to a healthy rental market, making units a potentially lucrative investment for those looking to capitalize on rental income.

Overall, Balmain offers a balanced investment landscape. The steady house market provides security, while the growing unit market offers potential for capital growth. With its vibrant community, waterfront views, and easy access to the city, Balmain remains a desirable location that can appeal to a wide range of tenants and buyers, making it a promising choice for property investors.