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

Balmain is a harbourside inner-west suburb with a strong village character. Sitting on a peninsula with foreshore parks and historic maritime sites, it has a compact retail heart along Darling Street of cafes, pubs and small boutiques, while quieter streets are lined with tight terraces, workers' cottages and converted wharves and warehouses. The community of 10,454 people has a median age of 42 and a median household income of $3,039 a week. Families make up the bulk of the mix, with couple families (with and without children) accounting for about 86.0% of families.

Life in Balmain feels intimate and walkable, with ferry and bus connections and foreshore walks around Mort Bay that make local errands and recreation easy. Recent projects have delivered up to 10 hectares of parkland and new pedestrian and cycle links into the area, the Balmain West wharf is being upgraded with Opal ticketing, CCTV and safety works and ferry services are planned to resume, and a mixed-use redevelopment on Victoria Road has approval for new homes, a supermarket, a community facility and a public plaza. Whether that suit you depends on how much you value waterside village life, nearby transport and local shops.

Buying in Balmain sits well above what local households were earning at the last Census. A typical local household earned about $3,039 a week at the last Census (around $158,028 a year), so the median house price of $2,865,000 is about 18.1 times a typical local annual household income at the last Census, and the median unit price of $1,500,000 is about 9.5 times. Rents look more moderate by comparison: a house rent of $1,175 a week would take about 38.7% of that weekly income, a sizeable share, while a unit rent of $750 a week would take about 24.7%, a moderate share. On these figures, renting—particularly units—appears the more manageable option against local incomes recorded at the last Census.

Everyone's financial situation is different, so it's important to consider your own circumstances when deciding which suburb is right for you.

The past year shows a clear split between houses and units in Balmain. Median house values rose a strong 13.9% over the 12 months while house rents fell 2.1%. By contrast, unit values declined 3.4% and unit rents rose 3.4% over the same period.

For someone weighing Balmain as an investment, the value figures relate to capital growth and the rent figures relate to rental income. Over the year houses delivered notable capital growth even as their rents eased, while units moved the other way with values down but rents moderately higher. Which of those outcomes matters to you depends on your own goals and circumstances.

This information has been prepared without taking your objectives, needs and overall financial situation into account. It is not meant to be a substitute for professional financial advice. For this reason, you should consider the appropriateness of the information and, if necessary, seek appropriate professional advice.