Question 1

Is Centennial Park a nice place to live?

Accepted Answer

Centennial Park is a leafy eastern Sydney suburb centred on the Centennial Parklands, where formal avenues, ponds, sporting fields and horse and cycle tracks shape daily life. Residential streets of Victorian and Federation homes, terraces and some low-rise apartments sit around the park. The park hosts regular outdoor activities and events, and the suburb is peaceful outside park hours while close to Moore Park's sporting and entertainment precinct and the cafés and shopping of Paddington and Bondi Junction. With 2,225 residents, a median age of 36 and a median household income of $2,154 a week (about $112,000 a year), families dominate the household mix, with couples without children 47.4% and couples with children 37.2%, and homes are more often rented (56.1%) than owner-occupied (43.9%). Ongoing parkland projects and nearby precinct upgrades will add and improve playing fields, pavilions, lakes and heritage elements. Centennial Park tends to suit families and professionals who prize access to open-air recreation.

Question 2

Is it expensive to live in Centennial Park?

Accepted Answer

On the figures, housing in Centennial Park sits high against the local median household income recorded at the most recent Census. A unit at the current median price of $904,250 is about 8.1 times a typical local annual household income at the last Census. Renting a unit at $758 a week would take roughly 35.2% of a typical local household's weekly income, while a house rent of $1,113 a week would take about 51.7%.

So buying a unit sits well above what a typical local household earned at the last Census, and renting would use a sizeable (units) to large (houses) share of that Census household income. Whether that feels expensive will depend 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 Centennial Park a good place to invest?

Accepted Answer

Unit rents in Centennial Park climbed 8.3% over the past year, a solid rise in the income a unit would earn, while unit values edged up 1.6% over the same period, a slight gain in capital value. That means rental income growth outpaced capital growth for units this year. If rental income is your priority, the rent figure is the one that matters; if you're focused on capital growth, unit prices only showed a marginal rise. Whether that balance fits your goals and circumstances is for you to weigh up.

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	$904K
Change in value Past 12 months	N/A	1.6%
Sold Past 3 months	2	10
Median days on market Past 12 months	N/A	34
Average rent Past 12 months	$1113	$758
Change in rent Past 12 months	N/A	8.3%

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