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Randwick is a delightful suburb that offers a fantastic blend of urban convenience and coastal charm, making it a wonderful place to live. Its vibrant atmosphere is enriched by a mix of heritage architecture and modern developments, creating a unique and appealing environment. Families will find Randwick particularly attractive due to its strong community spirit and excellent amenities. The suburb is well-served by public transport, making commuting to the city a breeze, while its proximity to Coogee Beach and Centennial Park provides ample opportunities for outdoor activities and relaxation.

Randwick's lively vibe is complemented by a diverse range of dining and shopping options, ensuring that residents have everything they need right at their doorstep. The presence of the University of New South Wales and the Royal Randwick Racecourse adds to the dynamic culture of the area, attracting a mix of students, professionals, and families. Safety is generally not a major concern, contributing to the suburb's family-friendly appeal. However, the popularity of the area does mean that property prices can be on the higher side, which might be a consideration for those looking to buy or rent.

While Randwick offers a balanced lifestyle with its mix of urban and coastal living, potential residents should be aware of the ongoing developments in the area, such as the Prince of Wales Hospital expansion and the Randwick Campus Redevelopment project. These projects promise to enhance the suburb's livability and could lead to increased property values. Overall, Randwick is a charming and vibrant suburb that provides a high quality of life, making it a desirable place for families and individuals seeking a lively yet relaxed environment close to both the city and the sea.

Living in Randwick can be quite costly, especially when you compare it to other suburbs in the Sydney area. The median house price is a staggering $3,325,250, while units are priced at a median of $1,198,000. These figures are significantly higher than the average property prices in many other parts of Sydney. If you're thinking of renting, expect to pay around $920 per week for a house and $850 for a unit, which are also on the higher side.

When we look at the income side of things, the average wage in Randwick is about $92,000 per year. This is higher than the average salary in Sydney, which hovers around $85,000 per year. However, despite the relatively higher income levels, the cost of housing in Randwick means that a substantial portion of one's earnings would need to be allocated to cover living expenses, particularly housing.

Overall, while Randwick offers a desirable lifestyle with its proximity to beaches, parks, and vibrant community life, the cost of living, especially in terms of housing, is quite high. If you're considering moving to Randwick, it's important to carefully evaluate your financial situation to ensure it can accommodate the expenses associated with living in this upscale suburb.

Randwick stands out as a promising investment suburb, particularly due to its recent property market performance. Over the last 12 months, the median house value in Randwick has increased by an impressive 9.0%, while unit values have also seen a healthy rise of 6.9%. This upward trend in property values indicates a strong demand for housing in the area, making it an attractive option for investors looking for capital growth.

Additionally, the rental market in Randwick presents a compelling opportunity, especially for units. While house rents have remained stable, unit rents have surged by 11.8% over the past year. This significant increase in rental income potential suggests a high demand for rental properties, particularly units, which can offer investors a steady stream of income.

Overall, Randwick's combination of rising property values and strong rental demand, especially for units, makes it a suburb worth considering for investment. Its proximity to the city, vibrant community, and desirable lifestyle further enhance its appeal, ensuring that it remains a sought-after location for both buyers and renters alike.