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

Randwick is an established eastern suburb anchored by Royal Randwick Racecourse and the Prince of Wales Hospital, and it sits close to UNSW and Centennial Parklands. The town centre around Belmore Road and Randwick Junction has cafés, restaurants and local shops alongside longstanding community facilities. Streets mix Victorian and Federation houses, Art Deco flats and more recent apartment buildings, a housing mix that suits families, students and health professionals. Good public transport, including the Randwick light rail branch and frequent buses, links the suburb to the city and nearby beaches.

About 29,000 people live in Randwick, with a median age of 36, and renting is the largest tenure at 51.9%. The suburb is being reshaped by the Randwick Health & Innovation Precinct and the campus redevelopment, with a new acute services building at the hospital now operating and further paediatric, cancer and research facilities and UNSW health hubs under way. Randwick High School has replaced the former single-sex schools and is receiving a major upgrade. Whether that mix suits you depends on what you’re looking for in a suburb.

On the figures, buying sits well above what local households recorded at the last Census. In Randwick the median house price of $3,480,000 is about 27.6 times a typical local household's annual income at the last Census, and the median unit price of $1,262,500 is about 10.0 times that annual income.

Renting also takes a large share of local income: a house rent of $1,500 a week is roughly 62.0% of a typical local household's weekly income at the last Census, while unit rent of $880 a week is about 36.3% of that weekly income. If you're deciding between renting and buying, those rent shares and the price multiples are the most directly relevant figures; 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.

Unit values in Randwick rose 6.7% over the past 12 months, a solid increase and slightly stronger than the 5.7% rise in house values. Rents moved more modestly: house rents increased 3.4% and unit rents increased 3.5% over the year.

That means, over the past year, capital growth outpaced rental growth in Randwick. If you are focused on capital growth the value changes are the figures to watch; if rental income matters more to you, look at the rent changes. Whether that balance suits your goals and circumstances is for you to weigh up.

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.