For those who weren't paying attention earlier this year, four Australian suburbs scored spots on Time Out’s annual list of the coolest neighbourhoods in the whole world. Sydney’s small yet spunky inner-city suburb of Chippendale ranked seventh, with Melbourne’s effortlessly cool Windsor in tenth. And for the first time ever, trendy suburbs in Perth and Adelaide also made the cut. Want to roll with the cool kids? Well, Domain has done the maths on what it’ll cost you to call these suburbs home. Take a squiz.
Chippendale, Sydney
Ranked as the seventh coolest neighbourhood in the world, “Chippo” has transformed from an industrial area into a hip hub filled with creative spaces, boutique stores, trendy eateries and a community vibe. Given its young population of students (due to its proximity to UTS and Sydney Uni) and up-and-coming professionals, most of Chippendale's residents are renters.
The median weekly rent is $1,095 for a house or $820 for an apartment. The median unit price is $850,000, with studio apartments coming in relatively cheap – by Sydney standards – at around $500,000 to $600,000. Sounds like a lot, but – despite its proximity to the city, and the cool factor – it's a fair bit cheaper than nearby Surry Hills, where the median unit price is $70,000 more to buy.
Windsor, Melbourne
This buzzing pocket in Melbourne's inner south is a go-to for curious foodies, thrift shoppers and art collectors, earning its spot as the tenth coolest suburb in the world. If you’re eyeing a piece of Windsor’s charm, the median house price sits at $1.505 million, while units go for around $525,000. That’s a touch higher than Melbourne's median house and unit prices, at $918,350 and $554,306, respectively. And when you consider that Melbourne's most affluent suburb Toorak (which has a median house price of around $4.7 million) is just four kilometres away, that seems like quite a good deal. If you want to move to Windsor but without a mortgage, the median weekly rent for a house is $800 and $520 for a unit.
Northbridge, Perth
Ranking as the 21st coolest burb in the world, Northbridge has been dubbed Perth’s answer to Sydney’s Kings Cross by Domain. This culturally diverse nightlife hub offers limited housing options due to its compact size and close proximity to the CBD, with apartments dominating the market. The good news? Buying here is 40 per cent cheaper than in Kings Cross, with one-bedroom apartments in the mid-$400,000s, two-bedroom units in the mid-to-high $500,000s, and three-bedroom apartments in the mid-to-high $600,000. The median weekly rent is almost identical for houses and apartments, at $660 and $650 respectively.
Norwood, Adelaide
Heritage meets hip in Adelaide’s stylish suburb of Norwood, which secured the 35th on the world’s coolest neighbourhood list. This high-density suburb sees charming, leafy streets lined with character homes and sleek apartment blocks centred around The Parade. Attracting a mix of both young and old, Norwood’s median house price is $1,137,500, while the median apartment price is $590,000. Those looking to rent can expect to pay around $690 for a house and $535 for an apartment.