Recent statistics show that the house value in Sydney grew around 4.3% over the last quarter and roughly 25.8% over the last year. In fact, Sydney is not only Australia’s most expensive city for the day-to-day cost of living, but also for property prices which continue to rise strongly and steadily.
However, when renting, there are some opportunities to get more bang for your buck which is why we’ve broken down the top 5 best bargain areas to rent in Sydney.
Some suburbs in Sydney are extremely expensive while others are more reasonable. For a major city, you’re unlikely to get a place on the cheap (unless it’s a shed in someone’s garden) so if you’re bargain hunting, then it’s all about knowing where to look and understanding what your budget is. We have put together some of the cheapest suburbs to rent in Sydney, so you know exactly where to look when finding a place to rent.
The Top 5 Best Bargain Areas to Rent in Sydney
It is important to know that the ability to work, play, and live within 20 minutes of your home is the new desirable lifestyle. It seems that the COVID-19 normal world we have come to know is full of people who love the idea of most things in life only being a 20-minute walk, bike ride, or public transport trip from home.
Things such as business services, shopping, community facilities, education, sporting resources, and jobs are expected to fit in with this narrative.
You will find that people are willing to pay more for this lifestyle. However, this isn’t always the same for each suburb. In fact, there are plenty of suburbs around right now which are not just fantastic places to live, but also cost-effective. On that note, let’s explore some of the best bargain areas to rent in Sydney.
1. Coogee
Coogee is a beautiful gentrified coastal suburb that sits to the southeast of the Sydney CBD. It saw some significant infrastructure projects throughout 2020 and these upgrades are expected to continue for this coastal suburb. Coogee is a very exciting and upper-class suburb that still remains at a normal price compared to others of its type.
With beautiful coastal walks, most notably the Bondi – Coogee walk and with a lively bar and restaurant scene, famously housing the Coogee Pavilion, Coogee really deserves its spot in the top 5 best bargain areas to rent in Sydney.
Transport links are generally very good in Coogee with buses running frequently and for sports enthusiasts, Coogee is a perfect spot for joggers, cyclists and surfers alike with brilliant jogging trails and secluded, wavey beaches never far away.
- Distance from CBD: 8km South East
- Total Population: 14,012
- Median Household Income: $2099 (weekly)
- Walk Score: 79 (very walkable)
2. Kingsford
Kingsford is a comfortable residential suburb that sits to the southeast of the Sydney CBD. It is situated directly south of the renowned University of New South Wales. It has excellent benefits and is becoming a favourite suburb amongst renters.
It has access to several cultural amenities along Gardner’s Road and Anzac Parade. Better yet, it is situated only around 5km from the famous Coogee Beach.
Kingsford has developed into an area heavily influenced by Asian cuisine and student living. Transport links are also very good, making Kingsford a practical location to live.
- Distance from CBD: 7km South East
- Total Population: 14,100
- Median Household Income: $1,227 (weekly)
- Walk Score: 82 (very walkable)
3. Neutral Bay
Neutral Bay really is a lovely harbourside suburb located on the Lower North Shore of Sydney. It is situated to the north of the Sydney CBD in the local government area of the North Sydney Council. Suburbs nearby include Milsons Point, Cammeray, and Cremorne.
Rich with history and surrounded by the famous Sydney Harbour, Neutral Bay has become a fantastic spot to live. A wide array of quality shops, restaurants and cafes are located within Neutral Bay Junction, making it a really practical Suburb to live in. Neutral Bay is also famously home to The Oaks.
This harbourside suburb truly deserves its spot in the top 5 best bargain areas to rent in Sydney.
- Distance from CBD: 1.5km North
- Total Population: 9,384
- Median Household Income: $2073 (weekly)
- Walk Score: 85 (very walkable)
4. Kensington
Kensington is a lovely suburb located southeast of the Sydney CBD. It is situated in the local government area of the City of Randwick. It is immediately to the south of Moore Park and to the west of Randwick Racecourse.
Kensington is well-known for many of its landmarks such as the main campus of the University of New South Wales, the exclusive Australia Golf Club, and the National Institute of Dramatic Arts (NIDA).
With easy city access and beaches within a short drive or bus, Kensington is a really convenient spot that just continues to develop. Kensington is also home to a Light Rail Station and some beautiful parks.
Continue reading below for some statistics on Kensington:
- Distance from CBD: 6km South East
- Total Population: 12,776
- Median Household Income: $1498 (weekly)
- Walk Score: 81 (very walkable)
5. Maroubra
Located right alongside the beach, Maroubra is a lovely suburb in the Eastern Suburbs of Sydney. It is located southeast of the Sydney CBD. It is also the largest suburb in the area governed by the Randwick City Council in both population and area.
Maroubra is one of Sydney’s top surfing beaches and there are plenty of shops, bars and restaurants nearby to keep you entertained.
- Distance from CBD: 10km South East
- Total Population: 29,594
- Median Household Income: $1428 (weekly)
- Walk Score: 74 (very walkable)
What You Need to Know About the Best Bargain Areas to Rent in Sydney
Above are the top 5 best bargain areas to rent in Sydney. If you are looking for a house to rent but are dealing with bad credit, get in touch with Clean Credit today. We could help to repair your credit score so that you can secure your home.