Get a property report and suburb profile for any property in Russell Lea

Russell Lea sits on the southern shore of Iron Cove with a bayside, village-like atmosphere. Tree-lined streets of early 20th century cottages and post-war family homes give way to waterfront blocks and newer apartment infill toward the foreshore. The suburb appeals to families, professionals and those seeking a quieter riverside lifestyle, with riverside parks and the Bay Run for walking and cycling and shopping and cafes close by in neighbouring centres. Bus routes and main roads link the area while keeping Russell Lea a calm, residential pocket.

Home to 4,920 people with a median age of 43, Russell Lea is strongly family-oriented, and owner-occupation is common (73.9% of dwellings). Recent council works have included a seawall renewal along Iron Cove, a redevelopment of Russell Lea Public School with 24 teaching spaces, a library, a hall and covered outdoor learning areas, plus pedestrian and crossing improvements around the school and Larkins Reserve, all of which feed into everyday convenience for residents.

Compared with what a typical household in Russell Lea earned at the last Census, buying is a long way above local incomes. A median house price of $3,600,000 works out to about 26.0 times a typical local household's annual income at the last Census. By contrast, renting looks different: a house rent of $1,250 a week would take roughly 47.0% of a typical local household's weekly income at the last Census, a large share, while a unit rent of $730 a week would take about 27.5%, a moderate share.

If you are considering Russell Lea, the rent shares are the key numbers for renters and the price multiple is the key number for buyers; whether those ratios feel expensive will depend 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.

Rents were the clearest movement in Russell Lea over the past year, particularly for houses. House rents jumped 13.6%, a strong rise, while median house values rose 3.8%, a modest increase — so the rent a house earns climbed faster than its price over the year. Units moved in the same direction but less sharply: unit rents rose 5.0%, a solid gain, and unit values increased 2.8%, a modest rise. Whether that balance between rental income and capital growth suits you 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.