Home to one of the largest collections of historic Victorian buildings in Australia, Glebe is steeped in history. Along with an enticing waterfront location and close proximity to the CBD and universities, it’s no wonder so many renters flock to Glebe in inner Sydney.
Originally inhabited by the Gadigal, following the arrival of the First Fleet, the land on which Glebe now stands was granted to the Church of England. Known as The Glebe, its name referred to the potentially income-producing land surrounding the original church of St John’s. In 1856, financial difficulty forced the church to sell some land, which is when new residents constructed most of Glebe’s historical buildings. According to The Australian Council of National Trusts, Glebe is probably home to the nation’s largest stock of Victorian cottages and terraces in one townscape and is thus an essential part of Australia’s architectural and historic heritage.
In the mid-20th century, Glebe became home to a distinctive community of hippies, political activists, university students and academics attending nearby Sydney Uni and the University of Technology Sydney. In 1969, locals formed The Glebe Society, which still exists today to restore what remains of the suburb’s historical past. As Gough Whitlam once said: “few places in Australia are richer in history than the inner-Sydney suburb of Glebe.”
Why choose Glebe?
Glebe is a promising inner-Sydney neighbourhood for property investors, as over 60% of the population rents. Glebe residents are a combination of students, retirees, professionals in their mid-30s and young families seeking the ideal inner-Sydney lifestyle. These residents have the luxury of strolling down leafy tree-lined streets and through the Glebe Markets and be in the CBD in minutes, thanks to excellent public bus links.
Unlike some of its inner-Sydney counterparts, Glebe is home to multiple open green spaces and an enticing bay-side location. In Glebe, residents and investors alike can choose from housing stock that ranges from old Victorian terraces to post-war apartments, with the occasional workers’ cottage or mansion with sweeping city views.
All these attributes make Glebe an attractive option for renters.
Attractive Glebe lifestyle
Glebe comes alive on weekends when the infamous Glebe Markets take over the grounds of Glebe Public School. The markets overflow with stalls selling vintage clothing, local artwork and homemade wares like jewellery, candles and food. Residents also flock to the suburb’s eclectic mix of cafés, bars and restaurants, like the South-Carolina-inspired The Charleston and Tramsheds in the heritage-listed Rozelle Tram Depot.
Glebe’s waterfront location is also an attractive selling point for potential renters. The pleasant Glebe Foreshore Walk takes you from Bicentennial and Jubilee Parks to the soon-to-be-redeveloped Sydney Fish Market in neighbouring Pyrmont. Along the way, you can catch glimpses of Sydney Harbour across the bay’s sparkling waters. Glebe definitely offers the ideal inner-city lifestyle in Sydney.
Glebe’s capital growth and yield
Glebe’s median house price is currently $1,802,000 and the average weekly rent is $800, which offers a 2.31% yield. But it will please Glebe homeowners to know it’s a high-demand market and it usually only takes an average of 37.7 days before their home is off the market.
Meanwhile, the median price for units in Glebe is $885,000 and the average weekly rent is $475. This equates to a 2.79% increase in gross rental yield.
Thanks to a steady increase in median property prices over the past five years, Glebe homeowners enjoy a capital growth of 4.46% for homes and 4.18% for units.
Keen to discover more about Glebe’s investment property market?
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