Sydney’s Balmain Peninsula is an In-Demand Suburb With Lots To Do

Once a gritty working-class suburb and maritime hub with shipyards and dry docks, Balmain is now known for its laid-back, small-community vibe, good schools and pub and café culture, which makes it catnip for upper -middle-class families.

The boundaries

The areas of Balmain, Balmain East and Birchgrove are located on the Balmain peninsula, which juts into Sydney Harbour. Four miles from the city, the suburb is bordered by Victoria Road to the west, Parramatta River to the north, Snail and Mort bays to the east and White Bay to the south.  

Price range

The average price for a one-bedroom, one-bathroom apartment with parking costs between A$650,000 and A$800,000 (US$500,000-US$614,0000), and those without parking cost between A$550,000 and A$700,000 (US$422,000-US$537,000), according to local agents.

"Prices for one-bedroom flats with views of the water start from A$1.4 million," or US$1 million, said Karl Howard, of Ray White in Balmain estate agency.

"The average two-bedroom apartment in a 1960s or 1970s block costs around the A$1 million mark," or US$767,000, Mr. Howard said. "If it’s renovated, it will cost around A$1.6 million (US$1.2 million), and if it has views as well, it’s going to cost A$2 million," or US$1.5 million.  

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Three-bedroom houses without parking start from A$2 million. Lynsey Kemp, of Belle Property in Balmain, gives a slightly higher estimate of A$2 million to A$3 million (US$2.3 million).

A large four-bedroom house with a garden, parking and views of the harbor will cost between A$4 million and A$5 million (US$3 million-$3.8 million). Waterfront homes are usually the priciest—they cost between A$6 million and $10 million (US$4.6 million and $7.7 million).

A listed house on a waterfront plot went for A$1.35 million over its guide price of A$4.75 million at an auction last month (March 2017), according to realestate.com.au. The website says that three bidders "competed fiercely" for the four-bedroom property. Selling agent Monique Dower, of Belle Property Balmain, said that the sale price is "a testament to the desirability of waterfronts in Balmain."

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Housing stock

Balmain’s well-preserved period homes are one of its biggest draws. Mainly dating from the Victorian era, they range from weatherboard workers’ cottages to traditional terraced townhouses and sandstone villas with ornamental woodwork.

The area is known for its historic hotels, or licensed pubs with rooms. Some are still run as drinking establishments, while others have been converted into private housing.

Residential apartment blocks, which are typically four to five stories high, come in a mix of architectural styles: art deco, mid-20th-century, modern, contemporary.

"It’s an eclectic mix," Mr. Howard said. "Contemporary and modern housing sits side by side with older and historic buildings."

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What makes it unique?

Its waterfront location, family-friendly feel and proximity to the city make it a jewel of a suburb.

"It is so close to the city yet it feels like a village," Ms. Kemp said. "Families are attracted to its good schools, cafes, restaurants and shops, and its community feel. Ferry and bus services operate regularly between Balmain and the city."

Balmain is one of Sydney’s oldest and most historic suburbs and much of the neighborhood is a conservation area, so it retains its original charm and character. Many homes have views of the water, as it has steep, narrow streets that lead to the water’s edge.

Said to be birthplace of the Australian Labor Party, it is a historic working-class area and is home to a number of heritage buildings that hark back to its industrial roots. Balmain Shipyard is one of two commercially operating dry docks remaining in the city.

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Luxe amenities

Active types can join the sailing and rowing clubs. The harbor front also features footpaths, reserves and parks, which are open to joggers, walkers and dog walkers.

The Illoura Reserve has some of the best views of the city’s skyline and Sydney Harbour Bridge, making it a popular spot to watch the fireworks for the New Year’s celebrations.

Dawn Fraser Baths, a tidal saltwater pool fed by water from Sydney Harbour, is the place to go on a hot day. Built in the 1880s, it is the oldest swimming pool and club in the city, and features decking for sunbathers and solar-heated showers.

The area is renowned for its good schools, which include Balmain Public Schools, a state primary school; Birchgrove, a preschool and primary school; and Nicholson Street School, a primary school.

Darling Street, Balmain’s main shopping street, has lots of interesting shops. Go to The Source for wholefoods and organic produce, Quintessential Duckeggblue for industrial and antique furniture, Elm Stock Tea for tea, and Vintage Cellars, Sixty Darling Street Fine Wine Store and Balmain Wine Shop for fine wines.

The suburb is also home to many dining spots, including Wilhelmina’s, a hip restaurant and bar, and Efendy, a Turkish fine dining restaurant, which offers an impressive Van-style breakfast feast featuring 30 types of local delicacies and a comprehensive collection of Turkish wines.

Alegrais, a split-level Spanish tapas restaurant, and Blue Ginger, a southeast Asian eatery, are also on Darling Street. Rosso Pomodoro, on Buchanan Street, is the best place to get an authentic wood-fired pizza, according to Megan Smith, of Belle Property estate agency.

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Artsy types are attracted to the nearby Rozelle Markets, an open-air weekend market which has second-hand homeware, bric-a-brac, vintage jewelry and clothing and multicultural food stalls.

Balmain also has an impressive array of quality bars and pubs. Popular spots include the Corner, a bar and café, the Riverview, a pub and dining room, and the Welcome Hotel, a dog-friendly pub with a beer garden and a dining room.

One of Balmain’s heritage hotels, the recently updated Cat and Fiddle is a live music venue and features a garden room with glazed roof and leather banquette booths. The Balmain Bed and Breakfast, located on the top floor, has also been revamped.

A highlight of Sydney’s dynamic restaurant scene, the Cottage offers Japanese-style Modern Australian share plates and has a cute, country-style setting designed "to look like grandma’s farmhouse… and [has] a courtyard for cocktails," according to the restaurant’s website.

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Who lives there?

Older, long-time residents rub shoulders with wealthy, young professionals and families. Artists and creative types are also attracted to the area’s charming houses and its relaxed vibe.

Notable residents

The Balmain peninsula has celebrity cachet. Champion swimmer Dawn Fraser grew up in Balmain and is said to still live in the neighborhood. "Home and Away" star Georgie Parker as well as Bryan Brown, an actor, and his wife Rachel Ward, actor and director, and their family, are residents.

Geraldine Brooks, the Australian-American journalist and novelist and Pulitzer-prize winner of the novel "March" used to live here, and the actress Rose Byrne was born in Balmain.

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Outlook

Homes are selling for and above their asking price because there is a shortage of stock, according to Ms. Smith.  "A lack of supply has meant that more people are deciding to stay put because there isn’t much on the market at the moment."

"Balmain remains a popular area," she added. "A year or so ago, families wanted to move further out so they could get more space for their money. Now we are noticing that people are more willing to compromise on space because they want to stay in the area."