Question 1

Is Barangaroo a nice place to live?

Accepted Answer

Barangaroo is a harbourfront precinct on the western edge of the Sydney CBD where reclaimed headland meets a contemporary mixed-use district. The area pairs the leafy headland of Barangaroo Reserve and the foreshore Wulugul Walk with modern commercial towers, waterfront dining and newer apartment buildings, and it feels like a busy business address by day and a relaxed dining and walking destination by night. A ferry wharf gives direct harbour access and recent public works, including a metro station and new station-precinct amenities, have reshaped the waterfront; Marrinawi Cove is open for harbour swimming.

Home to about 220 people with a median age of 40 and a typical household income of $4,591 a week (roughly $238,732 a year), Barangaroo is largely apartment living. Residents are typically professionals and city dwellers seeking low-maintenance, high-amenity homes close to parkland and the water. The community is dominated by couple families without children and most homes are rented (65.7%), with 34.4% owner-occupied. Whether that compact, amenity-rich riverside setting suits you depends on what you want from a suburb.

Question 2

Is it expensive to live in Barangaroo?

Accepted Answer

Housing costs in Barangaroo sit well above local incomes as recorded at the most recent Census. Units have a current median price of $4,475,000 and rent for about $2,080 a week. Against a typical local household income of $4,591 a week at the last Census, that rent would take about 45.3% of weekly income, a large share. The unit price works out to roughly 18.7 times a typical local annual household income at the last Census, which places buying a unit well above what a typical local household earned then. Which of these matters most depends on whether you plan to rent or buy and on your own income and circumstances.

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

Question 3

Is Barangaroo a good place to invest?

Accepted Answer

For units in Barangaroo over the past 12 months, median unit values fell 12.7% while unit rents rose 12.1%. The value change represents a large fall and the rent change is a strong rise, so the rent a unit earns has been the stronger performer this year even as unit prices declined.

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.

	Houses	Units
Median price Past 3 months	N/A	$4.47M
Change in value Past 12 months	N/A	-12.7%
Sold Past 3 months	N/A	12
Median days on market Past 12 months	N/A	174
Average rent Past 12 months	N/A	$2080
Change in rent Past 12 months	N/A	12.1%

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