Chippendale may be small in area but it packs a lot of punch and is popular with renters coveting that convenient inner-Sydney lifestyle.
Chippendale’s flowery street names, like Wattle and Rose, transport you to the 19th century, when Chippendale was home to dense vegetation. Named after local resident William Chippendale, by the 1830s, the suburb was home to industry that remained until the 1950s. In the 1850s, Chippendale welcomed the Colonial Sugar Refinery, Sydney’s first railway line, and the University of Sydney. John Tooth and Charles Newnham opened one of the suburb’s most beloved former landmarks, Kent Brewery, in 1835. It became a CUB Brewery before closing at the beginning of the 21st century and being redeveloped into the award-winning One Central Park.
Chippendale was one of Sydney’s first inner-city neighbourhoods to convert its factories and warehouses into housing in the second half of the 20th century. Young, educated locals began moving into the area in the 1970s and never left, enticed by the inner-city location and proximity to three universities.
Why choose Chippendale?
With 75% of the Chippendale population renting, it’s one of the most promising inner-Sydney suburbs for investors and residents. A lesson in contrast, Chippendale is home to converted warehouses and terraced houses on leafy narrow streets, and high-rise apartment buildings on some of Sydney’s busiest thoroughfares.
Chippendale attracts renters for its convenience and location to the University of Sydney and the University of Technology Sydney (UTS). Offering excellent transport links as it borders both Broadway and Central Station, Chippendale appeals to renters; typically, young professionals and students wanting to be close to the action and enjoy its other delights. In such a tiny package, Chippendale certainly packs a lot of heritage and modern conveniences.
Attractive Chippendale lifestyle
Besides the convenience that comes with a Chippendale address, residents can enjoy the best of inner-city living, with many fun establishments on their doorstep. This includes Kensington Street, which is home to cafés, restaurants, galleries and retailers housed in historic workers’ cottages and warehouses. Follow the lanterns to Spice Alley, which is home to various Asian eateries with communal dining, or visit the heritage-listed The Old Clare Hotel. Meanwhile, local watering hole The Rose Hotel has been a part of the Chippendale landscape for over 135 years and offers 28 rotating craft beers.
Locals have the benefit of a front-row seat to White Rabbit Gallery, where people queue every weekend to see one of the world's most significant Chinese contemporary art collections. Then there’s Central Park, home to the aforementioned One Central Park residential building with its vertical gardens and heliostat, other commercial and residential complexes, and two parklands. It’s easy to see why Chippendale attracts young renters.
Capital growth and yield in Chippendale
The median house price in Chippendale is currently $1,475,000, while the average weekly rent is $847.50. This equates to a 2.99% yield.
For a one-bedroom unit, the median price is $610,000, rising to $991,000 for a two-bedroom unit. With an average weekly rental price of $520, this translates to a gross rental yield of 3.73%.
Recent data shows that capital growth in Chippendale has seen a steady increase of 13.99% over the past five years. Over the past 12 months, Chippendale property investors have enjoyed a capital growth of 4.23% for homes and 4.8% for units.
Keen to discover more about the Chippendale property market?
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