The Sydney Olympics in 2000 left a lasting legacy, not just in the memories of thrilling sporting events but in the very fabric of Sydney’s urban landscape. One of the standout remnants of those historic games is the former Sydney Olympic Village, now known as Newington. This suburb, meticulously planned and developed for the Olympics, has transformed into a highly sought-after residential enclave that continues to captivate homebuyers and investors alike. Although the Olympics may be over in 2024, demand for properties continues to pick up pace.
Newington: A Suburb with Olympic Roots
Newington was initially designed to house athletes during the Sydney 2000 Olympics, offering state-of-the-art facilities and an environmentally sustainable design that was ahead of its time. Today, the suburb still reflects its Olympic heritage, with wide, tree-lined streets, spacious homes, and an abundance of green spaces. The thoughtful urban planning has created a sense of community and tranquillity that is rare to find in suburban Sydney.
One of the key factors contributing to Newington’s enduring appeal is its unique blend of modernity and nostalgia. The suburb retains its original Olympic charm while offering all the conveniences of contemporary living. This combination makes it a prime location for families, professionals, and retirees seeking a peaceful yet well-connected community.
The Allure of Newington’s Lifestyle
Living in Newington is like having the best of both worlds. On the one hand, you have the legacy of the Olympics, with its emphasis on sustainability, community, and quality of life. On the other, you enjoy the modern amenities and infrastructure that have been developed over the past two decades. This includes everything from excellent schools and childcare facilities to convenient shopping options, recreational areas, and efficient public transport links.
The suburb’s proximity to Sydney Olympic Park is another major drawcard. Residents have access to world-class sporting facilities, entertainment venues, and parklands, making it an ideal location for active families and sports enthusiasts. Whether it’s a weekend bike ride around Bicentennial Park or attending a concert at Qudos Bank Arena, there’s always something to do in and around Newington.
A Strong Sense of Community
One of the most remarkable aspects of Newington is its strong sense of community. This is a place where neighbours know each other, where children play safely in the streets, and where community events are a regular occurrence. The suburb’s design, with its emphasis on pedestrian-friendly spaces and communal areas, fosters interaction and connection among residents.
From my experience as a real estate professional, I’ve noticed that this sense of community is one of the main reasons why people are drawn to Newington—and why they stay. Once you move here, it’s hard to imagine living anywhere else. The suburb has a way of making you feel at home from the moment you arrive, and that feeling only deepens over time.
A Thriving Property Market
The property market in Newington reflects the suburb’s desirability. Homes here are in high demand, and it’s easy to see why. The suburb offers a range of housing options, from spacious family homes to modern townhouses and apartments, catering to a diverse range of buyers.
Despite the strong demand, Newington remains relatively affordable compared to some of Sydney’s other prestigious suburbs. This affordability, combined with the suburb’s many attractions, makes it an excellent choice for first-time buyers, young families, and investors looking for long-term growth.
In recent years, we’ve seen a steady increase in property values in Newington, driven by its enduring appeal and limited supply of homes. The suburb’s unique history, coupled with its ongoing development and modernisation, ensures that it will continue to be a highly sought-after location for years to come. Over the past 12 months, the median house price has seen a 14.2% growth, now sitting at $1,825,000. For apartments, the median price is $798,000, a growth of 2.2% since July 2023. There are currently only nine houses available for sale and 17 apartments, with a total of just 90 properties sold in total for the year.
Whether you’re looking to buy your first home, invest in a property with strong growth potential, or simply find a place where you can enjoy a high quality of life, Newington is a great option.