HOT SPOT: Redfern, originally published in Sun Herald Sept 2004
By Alex May

With streets of quirky terrace houses, smart cafes and tree-lined parks, Redfern has become an inner city haven for young couples and families craving a convenient lifestyle.
When Sarah and Roger van den Hoek first bought in Redfern’s Telopea St in 1997, the area was just beginning to become gentrified.
“Now it’s all young couples moving in and when you walk around the streets you keep bumping into mums pushing prams or dads taking their kids to the park,” says Sarah, who is mother to 5-year-old Ruby and 4-year-old Nelleke.
“If you didn’t know it, you’d never guess that Redfern was actually a real family area.”
The gentrification of Redfern has seen its median house price skyrocket in the last five years, jumping from $310,000 in 1999 to $565,000 today.
Macquarie Bank’s head of property research Rod Cornish says Redfern’s property price growth has been strong, and the area will continue to perform well in a slower property market.
 “I see Redfern outperforming other locations and outperforming the city median but it will be moderate growth rather than what it has been,” he says.
Australian Property Monitor’s research director Louis Christopher says Redfern’s price growth will be moderate, at best, in the next year – “but that’s pretty good in this market”.
“There is no way we are going to see the same kind of price growth Redfern has had repeated in the short term, but it will definitely do better than a lot of other suburbs,” he says.
Residex’s John Edwards has bolder predictions for Redfern’s future house price growth, saying it should grow by 12 per cent or more in the next five years.
“The stigma of Redfern will disappear as people realise the intrinsic value of the asset and allow gentrification to take place,” he says.
“I really do see Redfern turning into a Paddington type of suburb with the houses being upgraded and more upper management people moving in.”
The van den Hoeks were attracted to Redfern because it was more affordable than the eastern suburbs – but say they probably couldn’t afford to buy in the area today.
“I grew up in Paddington and I always thought Redfern was similar to the early days of Paddington,” she says.
“It’s still cheaper than other areas nearby but Redfern isn’t really what you would call affordable anymore.”
The couple bought two side-by-side terraces with a bonus double garage out the back and are now embarking on a huge renovation to convert the two houses into one family home.
“We plan on being in the area for the next 10 years or more and we couldn’t think of anywhere better to raise our kids,” she says.
“A lot of people are really surprised that there are so many families here, but those people don’t know what the area is like.”
The van den Hoeks say crime in Redfern is not the huge problem many people believe.
 it is.
“This is the inner city, so of course there is crime - and I have seen someone driving off in our car - but Redfern is not as bad as its reputation,” she says.
“Crime tends to come in waves and you need to always be aware but you don’t need to panic about it.”
With a more affordable price tag than its inner city neighbours, local real estate agent David Servi says Redfern attracts families and professional couples looking for larger terraces in leafy streets.
“There are good subdivisions in Redfern with many of the terraces having rear lane access and good-sized courtyards,” he says.
He says most popular streets in Redfern are Pitt St and Great Buckingham St and the leafy streets in the east of Redfern such as Kepos, Zamia and Marriott streets.
“People come here because it is so convenient. It’s not like the suburbs where you raise a family on your own and you never see anyone,” Sarah says.
“Here you don’t have to get into your car. All the shops are in walking distance and the bus is 15 minutes to work.”

 

BOX OUT
Median house price to June 2004 $565,000
Median unit price to June 2004 $386,000
Growth in median house price since 1999 82 per cent
Growth in median unit price since 1999 40 per cent
APM 12 month house price growth projection 0 to 3 per cent
Recent sales
$545,000 - 40 Kepos St, two-bedroom terrace sold in July 2004
$550,000 – 152 Lawson St, four-bedroom terrace sold in July 2004
$810,000 – 65 Great Buckingham St, three-bedroom terrace sold in August 2004
$1.1million – 740 Bourke St, four-bedroom terrace sold in February 2004
Where is it: 1km south of the CBD, bordered by Moore Park to the east and Darlington to the west.
Did you know: Sydney Lord Mayor Clover Moore calls Redfern home?
* all figures from Australian Property Monitors, publishers of the Home Price Guide