Question 1

Is Elizabeth Bay a nice place to live?

Accepted Answer

Elizabeth Bay is an inner-eastern harbourside suburb centred on a narrow foreshore and residential streets that rise from the water. Anchored by the historic Elizabeth Bay House, its streetscape mixes pre-war Art Deco blocks, converted terraces and modern apartment towers. Around 4,878 people live there and the median age is 43. Residents tend to be professionals, couples and downsizers; renting is common, with renters making up 60.5% of dwellings.

Life is quietly maritime: there are small jetties and marinas, leafy side streets, waterfront walks and regular buses plus Kings Cross station linking to the CBD and the city's cultural and nightlife precincts. The area has seen recent park upgrades and an ongoing recovery program at Garden Island. Whether Elizabeth Bay suits you comes down to whether you want harbourside living close to the city.

Question 2

Is it expensive to live in Elizabeth Bay?

Accepted Answer

In Elizabeth Bay a typical local household earned about $2,116 a week at the last Census. A unit rent of $700 a week would take roughly 33.1% of that weekly income, which is a sizeable share.

Buying a unit at $1,340,000 works out to about 12.2 times a typical local annual household income at the last Census (annual income = $110,032), so purchasing sits well above local incomes. On these figures, buying a unit looks much more stretched against local incomes than renting, and whether that feels expensive depends on your own 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 Elizabeth Bay a good place to invest?

Accepted Answer

Units in Elizabeth Bay recorded a solid 6.1% rise in median value over the past 12 months, while their median rent rose a more modest 2.9% over the same period. On the units side, capital growth outpaced rental growth this year.

If rental income is your priority, the 2.9% rent change is the figure that matters; if capital growth is what you want, the 6.1% value change will be the focus. Whether that balance makes Elizabeth Bay a suitable investment for you depends on your objectives 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.

	Houses	Units
Median price Past 3 months	N/A	$1.34M
Change in value Past 12 months	N/A	6.1%
Sold Past 3 months	N/A	39
Median days on market Past 12 months	N/A	56
Average rent Past 12 months	N/A	$700
Change in rent Past 12 months	N/A	2.9%

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