Question 1

Is Milsons Point a nice place to live?

Accepted Answer

Milsons Point sits on the northern shore of Sydney Harbour beneath the approach to the Sydney Harbour Bridge, with outlooks to the Opera House and the CBD skyline. It has a compact foreshore character with waterfront parks and the historic Luna Park nearby, and a ferry wharf and train station that make harbour crossings straightforward. Housing ranges from waterfront apartment blocks to older terraces and low-rise flats, and residents include professionals, families and downsizers who value the harbour views, short walks to cafes and pubs, and riverside recreational space.

The suburb has a population of 2,529, a median age of 44 and a median household income of $3,267 a week. Families are dominated by couples without children, and homes are most commonly rented, with 56.7% of dwellings rented. Recent upgrades to the ferry wharf, and the Sydney Metro City & Southwest extension, have helped reduce crowding on the North Shore rail corridor and ease travel to the city. Whether Milsons Point suits you will come down to how much you prize harbour proximity and quick access to the CBD.

Question 2

Is it expensive to live in Milsons Point?

Accepted Answer

Buying a unit in Milsons Point sits well above local incomes. A $1,650,000 unit is about 9.7 times a typical local annual household income at the last Census, which places buying well above what a typical local household earned at that time.

If you're renting, $1,100 a week is about 33.7% of a typical local household's weekly income at the last Census, a sizeable share. On these figures buying is the more stretched option, while renting still takes a sizeable portion of a typical local household's income.

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 Milsons Point a good place to invest?

Accepted Answer

Unit values in Milsons Point rose 22.5% over the past year, a strong increase in what a unit is worth. Unit rents climbed 4.8% over the same period, a modest rise in rental income, so the value side has been the stronger performer this year while income increased more gently.

If you are weighing Milsons Point up as an investment, these figures show the past year favoured capital growth on the unit side more than rental growth. Whether that balance fits your goals and circumstances is for you to decide.

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	$1.65M
Change in value Past 12 months	N/A	22.5%
Sold Past 3 months	N/A	14
Median days on market Past 12 months	N/A	71
Average rent Past 12 months	N/A	$1100
Change in rent Past 12 months	N/A	4.8%

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