Question 1

Is Ultimo a nice place to live?

Accepted Answer

Ultimo sits close to the CBD and Darling Harbour, where an industrial past meets a dense urban present. Converted warehouses and loft-style apartments sit alongside modern residential towers, and the University of Technology Sydney campus and the Powerhouse Museum give the area a steady student and creative feel. Harris Street and Broadway provide cafes, eateries and local shops, and transport links including Central station and major city roads make the city easy to reach while waterfront access is nearby.

Home to 7,410 people with a median age of 30 and a typical household income of $1,805 a week, Ultimo is predominantly a renting suburb (73.4% rented). The family mix is weighted towards couple households, many without children, though there are also couple families with children. It suits students, young professionals and small families who want an inner-city lifestyle with cultural amenities and ongoing museum and transport projects planned to improve local access. Whether Ultimo is right for you depends on how much you value that inner-city, built-up setting.

Question 2

Is it expensive to live in Ultimo?

Accepted Answer

Housing costs in Ultimo sit high against what a typical local household earned at the last Census. A unit priced at $770,000 is about 8.2 times a typical local annual household income at the last Census, which is well above local incomes. Rents are also a large share of weekly income: a unit at $800 a week would take roughly 44.4% of a typical local household's weekly income, and a house at $1,200 a week would take roughly 66.5%.

On these figures, both renting and buying look stretched against local incomes; if you're renting rather than buying, the rent share is the immediate number that matters, while the unit price multiple shows buying sits well above what people locally earned at the last Census. Whether that feels 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.

Question 3

Is Ultimo a good place to invest?

Accepted Answer

The most striking movement over the past year is house rents, which jumped 20.0% in Ultimo. Unit values rose 7.6% over the 12 months, a solid increase that represents capital growth for unit owners, while unit rents climbed 6.7%. If rental income is your priority, the 20.0% rise in house rents is the figure that matters; if capital growth is your focus, the 7.6% lift in unit values is the relevant number. Whether that fits 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.

	Houses	Units
Median price Past 3 months	N/A	$770K
Change in value Past 12 months	N/A	7.6%
Sold Past 3 months	5	41
Median days on market Past 12 months	N/A	62
Average rent Past 12 months	$1200	$800
Change in rent Past 12 months	20.0%	6.7%

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