The Woolloomooloo real estate market is often overlooked in favour of neighbouring areas, but we know why you should look no further.
We’ve explored the reasons why Woolloomooloo could be the next “it” suburb, but now the time is ripe to consider buying property in Woolloomooloo.
You may have been looking at Elizabeth Bay or Potts Point, but just next door in the harbour-front, park-bound suburb of Woolloomooloo we’ve discovered some striking similarities that will extend the reach of your Sydney property search.
Annual house growth has dipped in the short term but continues to rise in the long-term
Despite quarterly growth for Woolloomooloo houses dropping by 7.14%, the latest released CoreLogic figures show the average annual growth remains extremely high at 23.89%.
This means that if you’re able to break into the Woolloomooloo housing market, which is currently tightly held with 11 sales in the past 12 months, you’re almost guaranteed a great return in the long run.
Opportunity for rental yield is strong in the competitive Sydney market
Opportunity is ripe for investors to get a foot in the competitive Sydney property market in Woolloomooloo. CoreLogic figures show the potential annual gross rental yield of units in Woolloomooloo was 3.71% as of April 2018, coming in higher than that of Elizabeth Bay at 3.36% and only slightly lower than Potts Point at 4.53%.
However, with almost half the number of units sold in Woolloomooloo (90 sales in the past 12 months) when compared to its sister suburbs, it’s important to partner with the local experts who have their fingers on the pulse of the Sydney property market.
Woolloomooloo has properties for a range of lifestyles
Woolloomooloo is primarily made up of units (64%) and semi-detached properties (19%), with 72% of residents renting. Professionals have flocked to the rental properties of Woolloomooloo in recent years because of its proximity to the city yet secluded feel from the hustle and bustle.
Ranging from 19th-century semi-detached terrace houses to newly designed modern units, there’s a piece of Woolloomooloo to suit a range of lifestyles. From breathtaking water views to classic terrace courtyards, you’ll enjoy your own bit of natural sanctuary wherever you buy in Woolloomooloo.
Along with experiencing one of the shortest commutes to the CBD, in Woolloomooloo, you’ll be bounded by green havens in the Royal Botanic Gardens, the Domain and Hyde Park.
Taking a palette pilgrimage to the Woolloomooloo wharf restaurants
Also known as the ‘Finger Wharf,’ Woolloomooloo Wharf represents the historical roots of the area while playing host to thriving local dining and nightlife. And who can say no to a pie from the famed Harry’s Cafe de Wheels opposite or a pre-dinner drink at The Tilbury?
The wharf’s iconic restaurants tempt residents and visitors alike with scenic views and renowned dining experiences. With the likes of dining magnets China Doll, Otto Ristorante, Kingsleys Woolloomooloo and Criniti’s Woolloomooloo, and the impressive Ovolo Woolloomooloo hotel crowning the top of the Finger Wharf, you’re sure to never be out of options just outside your door.
Culture and creativity live here
After you’ve started the day right with some Woolloomooloo coffee, you can dive into the cultural marvels dotted around the area. The Old Fitz Theatre, home of independent theatre in Sydney, showcases the best emerging and established Australian talent in theatre, reflecting the cultural diversity that has long characterised the area in and around Woolloomooloo.
On the fringe of Woolloomooloo sits The Art Gallery of New South Wales and the Australian Museum, providing endless inspiration and historical intrigue to fill long weekends or rainy days. Along with the host of locally-run events and activities, you’ll find that there’s always something to fill your day in Woolloomooloo. It’s a rapidly changing area, home to bars, cafes and even a supermarket.
Our recent sales in Woolloomooloo
- 77 Bourke Street
- 19/67 Cowper Wharf Road
- 234 Dowling Street
- 509/6 Cowper Wharf Road
- 143 Brougham Street
- 14 Bland Street
Are you ready to discover what Woolloomooloo properties have to offer? Get in touch with our team today to start your search today.