Get a property report and suburb profile for any property in Pyrmont

Pyrmont is an inner-city harbourside suburb with a mix of converted waterside warehouses, contemporary apartment towers and a few remaining industrial pockets. The foreshore around Pyrmont Bay and Pirrama Park has promenades and wharves with easy access to the Sydney Fish Market, while Jones Bay Wharf and The Star concentrate dining and entertainment. The historic Pyrmont Bridge and the light rail at Pyrmont Bay provide direct links to the CBD and Darling Harbour, and local cafés, restaurants and parks shape day-to-day life.

The community of 12,658 has a median age of 37 and a typical household income of $2,422 a week. Households are largely couple-based and renting is the most common tenure at 63.3%. The area mixes corporate and media offices with residential streets, attracting professionals, creatives and downsizers who value a waterfront lifestyle close to the city. Significant renewal and transport projects are under way or planned, so whether Pyrmont suits you will depend on the kind of neighbourhood and access you want.

Housing costs in Pyrmont sit high against what a typical local household earned at the last Census. The median unit price of $1,080,000 is about 8.6 times a typical local household's annual income at the last Census (weekly income $2,422 × 52 = $125,944). Rents are also a large share of income: a house rent of $1,283 a week would take about 53% of a typical local household's weekly income at the last Census, while a unit rent of $970 a week would take about 40%.

If you're renting rather than buying, those rent shares are the figures that matter; whether they feel expensive depends 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.

The most striking movement in Pyrmont is the sharp fall in house values, which dropped 45.5% over the last 12 months. Unit values also fell, down 7.9% over the same period.

At the same time, rents rose: house rents increased 6.9% and unit rents rose 7.8% over the year. If rental income is your priority, those rent increases are the figures to watch, while the value changes show capital values declined over the past 12 months; whether that balance fits your objectives depends on your 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.