Question 1

Is Chifley a nice place to live?

Accepted Answer

Chifley is a quietly residential suburb on Sydney's eastern coastal fringe, sitting above Botany Bay and a short drive from La Perouse and the surf beaches of Maroubra and Malabar. It has a grounded mid-century character with modest postwar cottages, low-rise walk-up flats and pockets of newer infill housing. Local parks and coastal reserves provide foreshore walking and recreation, and small shops and regular buses connect to larger shopping precincts, the airport and the city.

The community is weighted towards families and roughly two in three homes are owner-occupied while about 31.1% are rented. Chifley contains Chifley Public School and a local childcare service, and there are no significant new infrastructure or development projects reported. Whether Chifley suits you depends on whether you prefer a settled, coastal suburb with local parks, foreshore access and bus links, and a community weighted towards families.

Question 2

Is it expensive to live in Chifley?

Accepted Answer

Buying in Chifley sits well above what local households earned at the last Census. With a typical local household earning $2,311 a week as recorded at the most recent Census, the median house price of $2,745,000 works out to about 22.8 times a local year's household income at that Census, which places buying well above local incomes.

Rents tell a mixed story. An average house rent of $1,695 a week would take about 73.4% of that weekly household income, a large share, while an average unit rent of $695 a week would take about 30.0%, roughly a third and a sizeable share. On these figures, renting a house is far more stretched against local incomes at the last Census than renting a unit.

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 Chifley a good place to invest?

Accepted Answer

The most striking movement in Chifley over the past year is the sharp rise in house rents, which climbed 21.1%. Median house values, by comparison, fell 0.4% over the same 12 months, a marginal decline, so rental income from houses notably outpaced any capital growth this year.

Unit rents rose 3.3% over the year, a modest increase, meaning house rents were the stronger performer when comparing the two rental series. Whether that balance between rental income and price movement 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	$2.75M	N/A
Change in value Past 12 months	-0.4%	N/A
Sold Past 3 months	10	N/A
Median days on market Past 12 months	52	N/A
Average rent Past 12 months	$1695	$695
Change in rent Past 12 months	21.1%	3.3%

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