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Balmain East suburb profile

Balmain East is a picturesque harbourside suburb located just 3km west of Sydney's CBD, offering stunning views of the Sydney skyline and Harbour Bridge. Known for its charming heritage architecture and village-like atmosphere, Balmain East is a sought-after location for those seeking a blend of history and modern living. The suburb features a mix of beautifully preserved Victorian terraces and contemporary homes, along with a selection of cafes, boutique shops, and waterfront parks. With excellent ferry and bus connections, Balmain East provides convenient access to the city while maintaining a peaceful, community-oriented environment.

Balmain East property market performance

Property growth+3.5%Past 12 months

Balmain East’s property market has experienced a significant surge in house values over the past 12 months, with a remarkable increase of 34.8%, bringing the median house price to $4.03 million. However, the unit market has remained stagnant, with no change in median value, reflecting a lack of sales activity in this segment.

Sales activity has been limited, with only 12 houses and 7 units sold over the past 12 months. Interestingly, both houses and units have shown a median of zero days on the market, indicating properties are being snapped up quickly upon listing.

The rental market in Balmain East has seen stability for houses, with no change in average rent over the last 12 months, maintaining at $1,175. Meanwhile, units have experienced a modest increase in rent by 2.9%, averaging $720, suggesting a slight uptick in demand for rental units.

HousesUnits
Median price
Past 3 months
$4.03MN/A
Change in value
Past 12 months
34.8%-27.7%
Sold
Past 3 months
127
Median days on market
Past 12 months
N/AN/A
Average rent
Past 12 months
$1175$720
Change in rent
Past 12 months
-2.1%2.9%

5 year median price trend for houses and units

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Balmain East demographics

Balmain East, a picturesque suburb located on the Sydney Harbour, offers a unique blend of historical charm and modern convenience. Known for its stunning waterfront views and proximity to the CBD, it attracts a diverse range of residents, from families to professionals. The median age of 46 suggests a mature community, with many residents likely enjoying the suburb's tranquil environment and easy access to the city.

The suburb's housing landscape is characterized by a mix of ownership and rental options. With 34.7% of properties owned outright and 24.1% owned with a mortgage, there is a strong sense of stability and long-term residency. Meanwhile, 41.2% of properties are rented, indicating a significant portion of the population values the flexibility that renting provides, possibly due to the suburb's appeal to professionals and those seeking a convenient lifestyle.

Family dynamics in Balmain East are varied, with 38% of families being couples with children and 51.5% being couples without children. This distribution highlights the suburb's appeal to both young families and older couples who appreciate the area's peaceful ambiance and community feel. The high median household income of $3020 per week reflects the affluence of the area, supported by its desirable location and quality of life. Balmain East's blend of heritage, community, and convenience makes it a sought-after location for those looking to enjoy the best of Sydney living.

Balmain East infrastructure, key developments and investment opportunities

Balmain East is experiencing a period of stable development with its prime location just 3 kilometers west of Sydney CBD enhancing its appeal to property buyers. The suburb has maintained modest population growth, with census data showing an increase from 1,866 in 2011 to 1,935 in 2016, and reaching approximately 1,900 residents by 2021, indicating consistently high demand for this tightly held area spanning just 0.34 square kilometers.

The property market in Balmain East remains premium, with median house prices reaching $3,100,000 in recent reports and current listings showing properties around the $2,600,000 price guide. The neighborhood benefits from excellent waterfront amenities and harbor views, with 6.4% of its area dedicated to public parks providing essential green space for residents. The demographic profile shows a predominance of 40-49 year old professionals and childless couples, with home ownership increasing from 55.7% in 2011 to 57.4% in 2016, suggesting a stable and desirable residential environment.

Balmain East rental market trends

The rental market in Balmain East has remained relatively stable, with house rents holding steady at $1,175 per week over the past year. Unit rents have seen a modest increase of 2.9%, reaching $720 per week. This stability, coupled with the suburb's charming village atmosphere and proximity to the Sydney CBD, makes Balmain East an attractive option for renters seeking a balanced lifestyle.

Suburbs near Balmain East

Some popular suburbs near Balmain East include:

  • Balmain: Known for its historic charm and vibrant community, Balmain is located directly west of Balmain East.
  • Rozelle: Featuring a lively arts scene and bustling markets, Rozelle is situated to the southwest of Balmain East.
  • Wollstonecraft: Known for its leafy streets and proximity to the harbor, Wollstonecraft lies to the north across the harbor from Balmain East.
  • Annandale: Offering a mix of heritage homes and modern amenities, Annandale is located to the southwest of Balmain East.
  • St Leonards: Known for its commercial hub and excellent transport links, St Leonards is situated to the north across the harbor from Balmain East.

How does Balmain East compare to nearby suburbs?

  • Median house prices: Balmain East’s median house price is 48.8% higher than Balmain’s.
  • House price growth: Over the past 12 months, house prices in Balmain East have grown 20.3% higher than in Balmain.
  • Unit price growth: Property prices in nearby Balmain have risen 27.3% more than in Balmain East over the past year.
  • Investment considerations: In Balmain East, the rental yield for house is 32.3% higher than the Sydney average, while the rental yield for units is 6.0% lower.
  • House price growth: Over the past 12 months, house prices in Balmain East have grown 100.0% higher than the average rate of growth across Sydney.
  • Unit price growth:Over the past 12 months, unit prices in Balmain East have grown 46.9% higher than the average rate of growth for units across Sydney.

Common questions about Balmain East

  • Is Balmain East a nice place to live?

    Balmain East is a delightful suburb that offers a unique blend of historical charm and modern convenience, making it a wonderful place to live. Its harbourside location provides residents with breathtaking views and a serene atmosphere, perfect for those who appreciate a peaceful yet connected lifestyle. The suburb's charming streets are lined with a mix of beautifully preserved Victorian terraces and contemporary homes, creating a picturesque setting that appeals to a diverse range of residents, including families and professionals.

    The community vibe in Balmain East is warm and welcoming, with a strong sense of belonging among its residents. The suburb is well-equipped with local amenities, including boutique shops, cafes, and waterfront parks, ensuring that there's always something to do. Families will find the area particularly appealing due to its safe environment and access to quality schools. The excellent ferry and bus connections make commuting to the city a breeze, offering the perfect balance between tranquility and urban convenience.

    However, living in Balmain East does come with some trade-offs. The premium property market reflects the suburb's desirability, which can be a barrier for some potential residents. Additionally, while the suburb offers a peaceful lifestyle, those seeking a vibrant nightlife might find the area a bit too quiet. Nonetheless, for those who value a community-oriented environment with stunning views and easy access to Sydney's CBD, Balmain East is a truly charming place to call home.

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  • Is it expensive to live in Balmain East?

    Living in Balmain East can be quite costly, especially when compared to other suburbs in the Sydney area. The median house price is currently a staggering $2,812,500, and even units, which are generally more affordable, have a median price of $941,100. Renting isn't much of a reprieve either, with average rents for houses around $965 per week and units at $700 per week. These figures highlight that housing in Balmain East comes with a hefty price tag.When considering the average annual wage in Balmain East, which is approximately $152,000, it is significantly higher than the average salary in Sydney, which hovers around $85,000. This higher wage suggests that residents might be better equipped to handle the elevated cost of living. However, even with a higher income, a substantial portion would still be allocated towards housing expenses, whether buying or renting.In summary, if you're thinking of living in Balmain East, be prepared for a high cost of living, particularly in terms of property prices and rent. The suburb offers a beautiful lifestyle with its waterfront views and proximity to the city, but it's essential to ensure your financial situation can accommodate the expenses associated with residing in this desirable area.
    Disclaimer: To assess whether a suburb is considered expensive, we’ve looked at mortgage and rental costs as a proportion of the average local salary. That said, everyone’s financial situation is different, so it's important to consider your own circumstances when deciding which suburb is right for you.
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  • Is Balmain East a good place to invest?

    Balmain East presents an intriguing opportunity for property investors, particularly those interested in units. While the median house value has remained stable over the past year, the unit market has experienced a remarkable 41.4% increase in value. This surge suggests a growing demand for units, likely driven by affordability factors and the suburb's desirable location. Balmain East's proximity to the Sydney CBD, coupled with its charming village atmosphere and waterfront views, makes it an attractive option for both renters and buyers.

    Despite the stagnant rental growth for both houses and units, the significant appreciation in unit values indicates strong underlying demand. This could be a sign that the suburb is becoming increasingly popular among young professionals and downsizers seeking a vibrant lifestyle with easy access to the city. While the house market may not currently offer the same level of growth, the stability in values suggests a low-risk investment environment. Overall, Balmain East's unique blend of location appeal and unit market performance makes it a promising choice for investors looking to capitalize on the area's potential.

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Choose the right real estate agents in Balmain East

There are 18 real estate agents working in Balmain East, but they don’t all deliver the same results.

Some agents have a much stronger presence in the suburb, with just 5 agents handling around 58.8% of all sales in the past year.

Commission rates in Balmain East typically range from 1.66% to 2.15%. Comparing agents—including what they charge, what’s included, and how they structure their fees—is not only important when choosing an agent, the right structure can help ensure your chosen agent is motivated to achieve the best possible result.

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