You are here: Home / Media / Suburbs go from No-go to Boom Towns

Suburbs go from No-go to Boom Towns

THEY were once Sydney's crime capitals, ruled by drug lords and violence. Now the same dangerous suburbs have been named in a national report as the city's hot-property suburbs. Homes in "rough and ready" Maroubra, heroin-capital Cabramatta and no-go zone Redfern are now attracting top dollar reports Vikki Campion in The Daily Telegraph on 10 May, 2011.

Marrickville and Parramatta also placed high on a Australia Property Investor (API) list of Australia's top 16 "up and coming" suburbs.

"We all wish we'd bought years ago in those suburbs that were considered daggy and cheap but are now simply too trendy and expensive for most of us to buy into," API's Lauren Cross said.

"Investors should be trying to buy into these suburbs now. They may seem unattractive but once they become popular there'll be plenty of growth for property values."

While Maroubra had a concentration of break-and-enters, property damage and car theft, API said the working-class suburb was the last affordable beach suburb in Sydney's east, with two bedroom units for under $500,000. Property prices in the area rose 23.7 per cent in the past 12 months.

Marrickville, in Sydney's inner west, was billed as the next Newtown, going from "fairly rough" to trendy over the past 18 months.

While Marrickville remained a hot spot for graffiti, damage to property and theft, property values in the former migrant community grew 16.9 per cent to a median house price of $740,000.

Formerly known as the drug capital of Sydney, Cabramatta had "reinvented itself", Hotspotting boss Terry Ryder Ryder said. It enjoyed 14.9 per cent growth over the past year to reach a median house price of $435,000.

"It has evolved beyond the drug stigma because there's a tourism aspect now about Cabramatta.," he said.

NSW Bureau of Crime Statistics crime hotspot maps showed Cabramatta was no longer a suburb in crisis.

Redfern remained in the top 10 per cent for assaults, robberies, stealing from dwellings, and malicious damage in the Sydney local government area.

Crime data revealed nearly half of Sydney LGA's break and enters in dwellings occurred in Redfern.

However, API found Redfern house prices had risen 16.9 per cent in 12 months to a median of $880,000.

Nearly half the suburb remains public housing but is on the cusp of a massive redevelopment in which 3500 new dwellings could be built.

New hot spots

Maroubra   23.7%

Redfern      16.9%

Cabramatta 14.9%

Marrickville  16.9%

Parramatta  9.2%