The Urban Developer
AdvertiseEventsWebinars
Urbanity
Awards
Sign In
Membership
Latest
Menu
Location
Sector
Category
Content
Type
Newsletters
Untitled design (8)
FULL PROGRAM RELEASED FOR URBANITY-25 CONNECTING PROPERTY LEADERS ACROSS THE ASIA PACIFIC
FULL PROGRAM RELEASED FOR URBANITY-25 WHERE THE PROPERTY INDUSTRY CONNECTS
VIEW FULL AGENDADETAILS
TheUrbanDeveloper
Follow
About
About Us
Membership
Awards
Events
Webinars
Listings
Resources
Terms & Conditions
Commenting Policy
Privacy Policy
Republishing Guidelines
Editorial Charter
Complaints Handling Policy
Contact
General Enquiries
Advertise
Contribution Enquiry
Project Submission
Membership Enquiry
Newsletter
Stay up to date and with the latest news, projects, deals and features.
Subscribe
ADVERTISEMENT
SHARE
print
Print
ResidentialStaff WriterTue 15 Aug 17

Suburb Profile: Pyrmont, NSW

Paragon-Pyrmont_Rooftop1_620x380

Originally a harbourside industrial hub, which contained only 530 residential dwellings in 1991, Pyrmont has undergone a significant transformation over the past decade.

Following a number of government initiatives, redevelopment rejuvenated the area attracting new residents and companies. Pyrmont is now one of the densest suburbs in Australia.

According to the Spotlight on Residential Property in Pyrmont research report by Savills Australia, the rate of development has slowed over the past decade with residential stock in the suburb increasing by just 9.1 percent over the decade to 2016.

This is set to change with the redevelopment of the current site of the Sydney Fish Market, which is earmarked for residential development aiming to transform the site and the surrounding areas into a prestigious residential destination.

Paragon of PyrmontSavills Head of Residential Research Sophie Chick said property prices in Pyrmont experienced strong growth over the past decade.

"The median value of houses has nearly doubled over that period while the median apartment price has increased by 120 percent. More recently, the rate of growth has slowed with median values rising by 7.5 percent and 7.1 percent over the year to June 2017 for apartments and houses respectively," she said.

Chick said Pyrmont is also a popular location for young professionals. The largest household types are couples without children and lone persons, which account for 57 per cent of the population compared to 43 per cent across Great Sydney. There is a significantly higher proportion of the population aged between 25 and 34.

“The area boasts a 1.2 percent vacancy rate compared to 2.2 percent across Greater Sydney and the transformation of the Bays Precinct is anticipated to improve the quality of life for existing residents and attract new buyers to the area with eight new waterfront destinations, as well as the six million visitors per year that are forecast to visit the relocated Sydney Fish Market,” she said.

Many developers have acknowledged these new elements that make up Pyrmont, like Thirdi Group who is selling Paragon of Pyrmont, a development offering just 32 homes boasting sophisticated design and home automation.

Located at 108 Miller Street, Paragon of Pyrmont has an estimated completion date of mid to late 2019 and offers three one-bedroom apartments, eight three-bedroom apartments, 18 three-bedroom terraces, one four-bedroom terrace and two five-bedroom terraces, with internal space ranging between 57 square metres to 183 square metres.

ResidentialAustraliaConstructionPlanningReal EstatePlanningSector
AUTHOR
Staff Writer
"TheUrbanDeveloper.com is committed to delivering the latest news, reviews, opinions and insights into the best of urban development from Australia and around the world. "
More articles by this author
ADVERTISEMENT
TOP STORIES
Qld Budget 2025-26 Brisbane City
Exclusive

Billions Promised, Now Deliver: Industry’s Qld Budget Verdict

Vanessa Croll
6 Min
Medium Density housing in NSW
Exclusive

NSW Budget ‘Groundbreaking’ $1bn Guarantee to Unlock Housing

Leon Della Bosca
7 Min
Exclusive

Azure’s Trent Keirnan on Playing the Long Game

Taryn Paris
5 Min
Exclusive

Private Credit Surge, Skittish Buyers Force Banks to Loosen Presale Rules

Taryn Paris
5 Min
Forme's James Place on James Street, Fortitude Valley Brisbane
Exclusive

Forme Pushes the Boundaries on James Street Precinct

Renee McKeown
4 Min
View All >
Qld Budget 2025-26 Brisbane City
Exclusive

Billions Promised, Now Deliver: Industry’s Qld Budget Verdict

Vanessa Croll
Residential

Verso Expands Ripley Town Centre Retail and Homes Plan

Taryn Paris
A workman on scaffolding at Kingloch Parade in Wantirna.
Sponsored

Kingloch Parade Pushes Through Industry Headwinds

Partner Content
Oz Property Group finishes strongly at Kingloch Parade by putting community first and cutting no corners...
LATEST
Qld Budget 2025-26 Brisbane City
Exclusive

Billions Promised, Now Deliver: Industry’s Qld Budget Verdict

Vanessa Croll
6 Min
Residential

Verso Expands Ripley Town Centre Retail and Homes Plan

Taryn Paris
3 Min
A workman on scaffolding at Kingloch Parade in Wantirna.
Development

Kingloch Parade Pushes Through Industry Headwinds

Partner Content
3 Min
Habitat stage 5 plans in Byron Bay swaps from hotel to homes development application.
Development

Byron’s Brandon Saul Swaps Hotel Plan for Apartments

Renee McKeown
2 Min
View All >
ADVERTISEMENT
Article originally posted at: https://theurbandeveloper.com/articles/suburb-spotlight-pyrmont-nsw