Question 1

Is Homebush West a nice place to live?

Accepted Answer

Homebush West, often still called Flemington, is an inner-west Sydney suburb centred on the longstanding Flemington markets and a working commercial precinct of warehouses and wholesalers. The residential mix of mid-century apartment blocks, established public housing and newer medium-density developments gives the neighbourhood a practical, unpolished character. Its location beside the parklands and event precinct of Sydney Olympic Park means riverside walking routes, green space and major sporting and entertainment venues are close at hand, while train and bus links and the local market culture keep everyday shopping and transport within reach.

About 9,108 people live in Homebush West and the median age is 31, with a typical household income of $1,952 a week. The community is weighted towards couple families and a majority of homes are rented rather than owner-occupied, so it suits younger households, renters and those who value proximity to transport, markets and large public open space. There are also planning and upgrade projects under way near the markets, Parramatta Road and the local train and cycle connections that may change the area over time.

Question 2

Is it expensive to live in Homebush West?

Accepted Answer

On the figures, housing costs in Homebush West sit above what a typical local household earned at the last Census. A unit at $630,000 works out to about 6.2 times a typical local annual household income at the last Census ($1,952 a week × 52 = $101,504), which places buying a unit well above local incomes. For renters, house rent of $800 a week would take about 41.0% of that typical weekly household income, while unit rent of $690 a week would take about 35.3%. So on these figures, renting would use a sizeable to large share of a typical local household's income, and buying a unit sits well above it.

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 Homebush West a good place to invest?

Accepted Answer

The most notable movement in Homebush West over the past year is a strong rise in house values, up 10.6%, while house rents also climbed a solid 8.1%. In other words, for houses the suburb saw capital growth that outpaced rental income growth over the 12 months.

Units moved differently: unit values fell slightly, down 0.6%, while unit rents rose modestly by 4.5%. If rental income is your priority, house rents grew faster than unit rents this year (8.1% versus 4.5%); if capital growth matters more, houses were the stronger performer on these figures. Whether that fits your plans depends on your own goals 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	$630K
Change in value Past 12 months	10.6%	-0.6%
Sold Past 3 months	3	46
Median days on market Past 12 months	N/A	34
Average rent Past 12 months	$800	$690
Change in rent Past 12 months	8.1%	4.5%

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