Postcode 2031 figures regularly among those Sydney suburbs that do well in price growth and rental yields, but what lies beneath the numbers? A not so deep dive reveals a myriad of reasons people choose this Eastern Suburbs gem as their home - and a great place to invest. We've scoped out the top 8 reasons Randwick City should be at the top of the shopping list.
1. Locals can make a splash
Randwick has easy access to a handful of Sydney's favourite swimming spots. The world-renowned Coogee Beach – recently voted Sydney’s best by leading holiday research site US Travel News - is half a kilometre of golden sand, surrounded by casual eats and dotted with sunlovers and snorkeling enthusiasts. It’s a glittering stop on the spectacular and famed Bondi to Maroubra coastal walk and steeped in history, Coogee is also home to four ocean pools; McIvers Baths, the last remaining women's and children's ocean bath in Australia; Wylie’s Baths; the Ross Jones Memorial Pool and Giles Baths. Popular eateries and night spots include Barzura, Coogee Pavilion and Coogee Bay Hotel. Spoilt for choice, locals can also enjoy the smaller Clovelly Beach with its concrete promenades and ocean pool, famous for the sighting of blue gophers, as well as the protected snorkler's paradise of Gordon's Bay with its picturesque fishing boats lining the shore.
2. Life is a walk (or play) in the park
Centennial Park, opened on Australia Day in 1888, is the Eastern Suburbs' great communal backyard and it sits right on Randwick’s doorstep. Measuring 189ha of lush parklands, the vast green space contains waterways, cycle paths, horse trails and playing fields making it one of the most family-friendly spaces in Sydney and the ideal complement to modern apartment living.
Filled with exotic flora and fauna from Australia and beyond, the historic park is buzzing all year long with a host of musical events, sporting matches, foodie festivals and the popular Moonlight Cinema on warm summer’s nights.
Centennial Park’s neighbour to the east is Queens Park, measuring 26ha. Since 1938 it has been home to various sporting fields including cricket, rugby, soccer and touch football. This popular urban park is set in a natural amphitheatre at the foot of sandstone cliffs, while a viewing platform along the ridgeline serves up panoramic views across Sydney. A popular children’s playground and a shared cycleway links the eastern suburbs cycle network with Centennial Park round out the park’s facilities. Moore Park at 115ha, rounds out the Centennial Parklands offering. In addition to its generous open spaces and playing fields, the park includes an athletics track, 18-hole golf course, driving range, tennis and netball courts.
And golfers are not forgotten in this outdoor story. Take your pick from four 18-hole golf courses dotting the coastline from Malabar - Randwick Golf Course, The Coast Golf Course, St Michael’s Golf Club and New South Wales Golf Club.
3. Good design is part of past, present and future
Established in 1859, Randwick,and its surrounds, boasts some of Sydney's earliest architecture of note, from grand sandstone homes with leafy green surrounds to more modest cottages and apartments. Of great significance to the local community and horse-racing fraternity in Australia and beyond is the famed Inglis Newmarket Stables on Barker Street with buildings standing today dating back to the 1860s.
Design is so important in this part of town, that not one, but four of Australia's finest architects and a landscape architect, have been entrusted with transforming this site into a lively new village heart - all while maintaining the much-loved majestic fig tree near the sales ring and key historic buildings such as Newmarket House (c1860) and the Big Stables (c1880), that make the site so special.
New apartments and townhomes set among lush landscaped gardens and open spaces, including a community garden and playground, will join boutique laneways of new cafes and restaurants. For more information click here
4. You will learn something new every day
If Sydney has a centre of learning and innovation then its beating heart is Randwick. Randwick and Kensington are home to the University of NSW and its 50,000+ students, the National Institution of Dramatic Arts (NIDA) and state of the art hospitals including the Royal Women's Hospital, The Sydney Children's Hospital and the Prince of Wales Hospital. The presence of these important hubs of science, learning and employment have injected a vibrancy into the neighbourhood, brought residents from across the globe who now call Randwick home and attracted a significant amount of commercial and residential investment to the area.
5. There is always something exotic being dished up
A food connoisseur is at home in Randwick. There is no shortage of choice for fine dining experiences, or a tasty bite on the run. From Thai takeaways and pizza places to sushi restaurants and French creperies, the international menu in Randwick is second to none. Breakfast is also big in Randwick with an endless selection of buzzing family-friendly and pet friendly, cafes for early morning meetings or long lazy afternoon teas. When the sun goes down on Randwick, the lights go on at The Spot. A colourful collection of eateries at the intersection of Perouse Rd and St Pauls St, The Spot is a favourite dinner address among locals and is an easy walk from Newmarket Randwick.
6. It’s an entertaining address
Between the beautiful beaches and relaxed cafe culture, it’s easy to revel in the art of ‘doing nothing’ in Randwick. However, for those seeking a little more action there are plenty of options to pick up the pace. The Royal Randwick Racecourse is a local institution that draws punters in from far and wide. Spring and autumn racing carnivals light up the streets with dapper gentlemen and elegant ladies all looking for lady luck at the weekends. For action on the big screen, one of Randwick’s greatest hidden gems is the Randwick Ritz, an iconic art deco cinema built in 1937 that shows not only the latest blockbusters, but also quirky cult classics and international film festivals. Many other new cinemas also make movie-going here a breeze, but the Ritz holds a special place in many local hearts.
7. Getting around is a breeze
A car is optional for many locals because most amenities are a casual stroll or even a short bike ride away. For longer commutes Randwick's residents and workers have several options. With several hospitals, a vast university campus and a growing population, Randwick already has great transport - and it's only going to get better. While the well-established bus network serves almost every corner of Randwick with routes connecting the neighbourhood to the city and nearby beaches, a new light rail network is on its way. From 2019, the tramway will join Randwick, via Surry Hills and Centennial Park, to Central Station and Circular Quay. There's no doubt Randwick's on the map when it comes to Sydney's unprecedented infrastructure spend.
8. You can shop til you drop
Along Belmore Rd, in the heart of Randwick, there is a string of unique boutiques and favourite chain stores that allow for the perfect dose of retail therapy. But for a more intense shopping experience there is Royal Randwick, a one-stop mall with everything on the menu from fruit and vegetables at Harris Farm and Woolworths to fashion must haves at a host of clothing stores for him, her and the little ones. A fixture in the community, the shopping centre even has busy local parents in mind offering the Randwick Rascals kids club on weekends and school holidays. Two regional shopping centres - Westfield Eastgardens at Pagewood and Westfield at Bondi Junction - are also within easy reach.