PROPERTY INVESTOR LENS ON DARLINGHURST 2010
A mix of the old and the new, Darlinghurst offers a great lifestyle in a walkable suburb close to the city.
As one of the earliest Sydney suburbs, established in the first half of the 19th century, Darlinghurst is blessed with colonial, Victorian and Federation-style properties, with a limited number of newer properties. These latter tend to be hotel conversions, office conversions on the suburb borders, or smaller developments surrounded by Victorian terraces.
A landmark Darlinghurst mansion tucked away at the end of a cul-de-sac was the home of Baz Luhrmann and Catherine Martin until the couple sold the property in 2016. Locals are familiar with the stories of the Razor Gangs, and Kate Leigh, Tilly Devine, Squizzy Taylor, Norman Bruhn as well as other colourful identities such as Arthur Stace, the ‘Eternity’ man and for whom the Eternity Theatre is named.
Why choose Darlinghurst?
Darlo, as it’s known locally, is synonymous with arts and culture in Sydney and home to the sandstone National Art School (formerly the Darlinghurst Gaol and close to the heritage-listed Darlinghurst Courthouse, used mostly these days for sittings of the Supreme Court of New South Wales). The nearby Jewish Museum charts the history of Jewish influence in Australia since the First Fleet, while St Vincent’s Hospital on the next block is a major teaching hospital, supported by the Darlinghurst campus of Notre Dame University. The Australian Museum on the Darlinghurst boundary not only boasts world-class attractions but also engages the local community with evening events. And we mustn’t forget the Mardi Gras parade, which is a Darlinghurst institution.
With its oft-quoted ‘café lifestyle’, both Eternity and Stables theatres, art galleries, events and restaurants that cater to every taste and budget, it’s no wonder Darlinghurst is a drawcard for creative types and professionals who appreciate public transport links and walkability of the suburb (although you’ll get fit walking the hills).
The restaurant precinct of Stanley Street, first popularised by No Names restaurant, is a local hotspot for groups and singles, with so much choice. And of course, Liverpool Street boasts the eponymous bills, chef Bill Granger’s first foray into restaurants.
Darlinghurst schools include the reputable Darlinghurst Primary as well as Sydney Church of England Girls School Darlinghurst and Sydney Grammar School for boys.
Darlinghurst home sale and rental prices
In Darlinghurst, the median house price is $1.9 million, with median price for units standing at $1.09 million (May, 2021).
The median house rental is $850 while the median unit rental price is $500 p.w.
As an older suburb, Darlinghurst offers everything from studio apartments to elegant mansions. It has been said by those in the know that Surry Street, with its elegant terraces and lined with robinias, is ‘one of the prettiest streets in Sydney).
Capital growth and yield in Darlinghurst
Over the past year, Darlinghurst enjoyed a capital gain of 6.15% .
House owners have the potential for a 2.33% increase in gross rental yield.
Unit owners can look to capital gain of 5.3% over the previous five-year period. Yield is sitting at around 2.63%.
Over ten years, Darlinghurst has achieved growth of around 8.4%.
Adding value to your Darlinghurst property investment
To ensure high occupancy and a better-quality tenant, landlords need to keep their properties relevant. Especially now with a flight to regional cities or suburbs with newer housing stock, it’s vital to give your asset the best chance of success.
Top things to do to keep your Darlinghurst rental top of mind
- Make it pet-friendly. The incidence of pet ownership in the Eastern Suburbs and the Inner West is increasing as people continue to work from home and live in smaller households. These renters need understanding landlords.
- Keep up the maintenance. Things wear out, paint and flooring gets tired. To give your property the best chance of gaining a long-term tenant, keep your property fresh.
- Add amenities like air conditioning, ceiling fans or a dishwasher.
- Ensure you and your property manager communicate regularly with tenants to ensure they’re happy and they know you’re there for them.
Recently leased properties
In Darlinghurst, Vogue Property leased 22 properties in the last 12 months (as at May 2021).
You can view all our recently leased Darlinghurst properties to get a good feel for rental properties in the area.