As long-term residents of the Inner West, we know our slice of Sydney is fantastic!
But as with everything, there’s always room for improvement.
This week’s decision by the Inner West Council to turn-off most parking meters from 7pm is a welcome change that will help breathe new life into our local night-time economy.
The move, which was championed by local cafes and restaurants, will make it easier for residents and visitors alike to enjoy the amazing range of eateries that line our area’s high streets.
“We must bring back the hustle and bustle in the area and help re-establish the vibrant main streets the Inner West has always been famous for,” said Inner West Mayor Darcy Byrne.
While the benefits for cafes and restaurants are clear, how can a revitalised night-time economy impact local property prices?
Experts believe that a vibrant café and restaurant scene can help improve an area’s lifestyle desirability, and will have a positive impact on real estate prices accordingly.
For many discerning buyers, being in close proximity to quality schools and public transport options has long been considered very important. However, increasingly buyers are also interested in the atmosphere or vibe of an area. A wide mix of cafes and restaurants is a key factor in helping foster the right, welcoming atmosphere.
By making it easier for customers to access cafes and restaurants into the evenings, main streets will become more vibrant and will help boost the all-important vibe of the neighbourhood.
One suburb that’s experienced an unequivocal boost from a strong local café culture is Marrickville.
While the area has had a strong multicultural food presence for some decades, in recent years, high-quality cafes have started opening. This has had a noticeable effect on real estate prices. With house prices significantly lower than comparable properties in the Eastern Suburbs or North Shore, buyers from other areas are able to make their funds stretch further, without compromising the culinary lifestyle they have come to expect.
With the change to meter-free parking after 7pm each night, Marrickville’s already vibrant café and restaurant scene is set to become even more active, drawing even more prospective buyers to the suburb.
So, if you’re considering buying a new property in an area that offers a vibrant lifestyle, now might be the ideal time for you.
Luckily, at Devine Real Estate we are ideally placed to help you find the ideal property in some of the Inner West’s most vibrant lifestyle precincts, such as Marrickville.
We are currently listing properties such as this character filled 3-bedroom home in the heart of Marrickville, just steps away from all the vibrant cafes and restaurants that make the area so desirable.
For larger families, we are currently listing this impressive 6-bedroom family home in a peaceful cul-de-sac. It is also fantastically positioned within walking distance of all the lifestyle options that you would expect.
Contact us today for many more property options in the Inner West’s vibrant café and restaurant precincts!
Devine Real Estate
T: 02 8789 0217 | M: 0419 202 930