Property investor lens on Alexandria 2015
Alexandria is a city fringe suburb that is located around four kilometres south of the Sydney central business district. Primarily an industrial area that was home to many different industries including canneries and brickworks, in recent years, the suburb has undergone a transformation as these industries moved further out.
Prior to European settlement, the area that is now Alexandria was occupied by the Eora and Gadigal people, who used the area for hunting, fishing and camping. In those early days, the area consisted mainly of wetlands, thick shrubland and low open forests.
After European settlement, the area was used primarily for market gardens before it became an industrial suburb with many factories, and known affectionately as the ‘Birmingham of Australia’.
Many original manufacturing businesses started in Alexandria. For example, the early Kooka wood stoves were made by Metters in an area known as Ashmore Estate.
Alexandria suburb review and lifestyle
Fast forward to today, many of the old warehouse and factory buildings have been transformed into stylish and modern apartment complexes. New apartment buildings have also been constructed. Because these apartments are relatively new, they’re quite spacious and many have large balconies.
Of course, with all these apartments, you would imagine that the café culture is well and truly alive in this suburb and you wouldn’t be wrong. In fact, during the weekend, many Sydneysiders flock to Alexandria for a spot of brunch and to peruse the numerous homeware and outlet stores that now line the main shopping streets.
Residents of Alexandria are both older empty nesters, retirees and young professionals. The smaller back streets still retain the old charm with Victorian-style homes and cottages that house families who have lived in the suburb for generations.
There’s also Sydney Park, which offers a lovely place to have a picnic among the tall, established trees and extensive wetlands. It also has a trike-friendly kids area, a number of barbecues and an off-leash dog area.
Property values and yields in Alexandria
Property values in Alexandria range from an average price of around $600,000 for a one-bedroom unit to over $2 million for a four-bedroom house. Currently, houses in the suburb rent for around $820 per week with an annual rental yield of 2.2%.
On the other hand, one-bedroom units start at around $520 per week with a rental yield of 3.4%.
According to census data, around 48% of properties in the suburb are owner-occupied while around 52% are rented. Of these, 29% are families and 71% are singles.
Capital growth in Alexandria
According to statistics of sales from the past five years, the compound capital growth for houses is around 5.4% while units have seen a growth of around 0.7%.
According to data supplied by CoreLogic, the median price for units has experienced a capital growth of around 7.05% over the past twelve months while the median price for houses has seen an annual capital growth of around 9.26%.
This would indicate that there has been relatively strong capital growth for Alexandria real estate in the area in the past twelve months.
Need help managing your investment property in Alexandria?
Why not give us a call at Vogue Property. We understand what renters are looking for and can help you with tenants and everyday management so you have peace of mind.
See our recently rented property in Alexandria to get a better idea of what’s available.
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