What it’s like living in Sydney’s cheapest suburbs, where property costs just $384k

The curtain has been lifted on Sydney’s cheapest suburbs, and while these neighbourhoods have the most wallet-friendly real estate in the city, for the locals who call these places homes, they are far, far more than just Sydney’s most affordable postcodes in which to buy a property.

Enter Lakemba in Sydney’s south-west – the city’s cheapest suburb with a median unit price of $384,000, according to the latest Domain House Price Report.

While its price tag is the most budget-conscious in property, what truly draws its locals is a deep sense of belonging.

Home to vibrant food scenes and just 12 kilometres from the Sydney CBD, there’s much to love about this suburb.

It’s well known for its Ramadan Nights. The markets run during the period of Ramadan – when people of the Muslim faith fast from dawn to sunset – on Haldon Street, where the streets are abuzz with food stalls. This year, the markets attracted more than 1.4 million people.

Long-time Lakemba resident Mohuddein Said says the festival is his favourite event of the year.

“When the Ramadan Night [is] on, I get so happy seeing so many different people come. People from Bondi, Cronulla and everywhere in Sydney come here to celebrate Ramadan with us. It’s so beautiful,” he says.

“You see everybody of different colours, different religions, and different cultures coming here and who are more than welcome here. I don’t think you’ll find that anywhere else. It’s great, I’m so proud to be part of this community, I’m proud of this suburb and proud to be an Australian Muslim.”

Said came from Lebanon as a 14-year-old boy in 1978 and has witnessed first-hand how the neighbourhood has changed.

“Back then, if we wanted to buy some Lebanese food, we had to go to Redfern because there was nothing here and now, everything we need is here,” he says.

“I also used to have a barber shop with my uncle on Haldon Street and we were the only two barbers here. We learnt how to cut hair in Lebanon and came here … I used to walk around here and ride my bike here and now there are so many options and so many people.”

According to Australian Bureau of Statistics data, Lakemba is home to 16,876 people, 60 per cent of whom were born overseas. 61.2 per cent are of Islam faith, and 92.9 per cent of residents speak a language other than English at home.

Salmam Mohammad, who has worked at Paradise Supermarket for the last decade, is proud of his suburb.

“I can feel so much culture here and a big community,” he says.

“I feel at home because there’s a big south-Asian community here as well. I wouldn’t want to leave.”

Luke Knapton of Knapton Property Agents says the majority of properties in the neighbourhood are units.

“About 80 per cent of Lakemba is mostly units, across sales and rentals and the general occupants are young families,” he says.

SOLD - $498,000

9/91 Yangoora Road, Lakemba NSW 2195

2

1

1

View property

“Affordability is one reason why people buy here, but it’s also because it’s quite multicultural. This area attracts a lot of new migrants because there’s a sense of familiarity around it, from herbs and spices from their home countries in south Asia or the Middle East.”

Its proximity to the city is another benefit for buyers, Knapton adds.

“It’s very accessible and a lot of buyers still work in the office, so it’s very easy to get there,” he says.

Local resident Madhavi Anu Lata says she can’t imagine herself anywhere else.

“I moved to Brisbane first when we came to Australia [from Fiji] and spent 20 years there before moving to Lakemba,” she says.

“I like it here. Everything I need is nearby, and I can get anything quite easily because I live in an apartment near Lakemba station. I don’t even need to drive around here.

“I wouldn’t want to live anywhere else. I’ll live and die here.”

But it’s not just Lakemba that has posted cheap median prices for potential home owners. Another 25 kilometres west of Lakemba is Cabramatta.

The suburb recorded a median unit price of $392,000, according to Domain data. 

Cabra, as it’s known, is home to a large Vietnamese community, and along the popular John Street, the main thoroughfare, you’ll find Asian specialty stores and plenty of food options.

The neighbourhood has a population of 23,664, of whom 63.2 per cent were born overseas – with the majority (49.2 per cent) born in South-East Asia – and 77.8 per cent speak a language other than English at home.

Hellen Tieu has called Cabramatta home for the past 32 years.

“There’s a lot of Asians here and I can’t speak English too much but I stay here because people speak my language … it’s easy for me to talk,” she says.

Tieu has been running her beauty business for the past 28 years.

“I’ll never leave. I only know Cabramatta so I’ll stay here for a long time, a very long time. A lot of customers come here that I know and my family are here. I love it here,” she says.

Not far along John Street is new business owner Alois Lin, who opened up shop only three months ago.

“There’s a lot of foot traffic here and many kids and parents come by to buy something,” she says.

“I don’t live here but I might one day … the people are nice but I really like the food here. Everything opens until late, I close at 9pm as well, so it’s nice that there’s always somewhere open to eat.”

Sonny Tran of Laing & Simmons Cabramatta echoes Lin, noting that it’s “almost cheaper to eat at the restaurant than at home”.

“I don’t even cook sometimes, I just walk down the street and find somewhere to eat here and it’s affordable, too,” he says.

“A lot of people move here because of the culture, especially those with Asian backgrounds. A lot of people move here from overseas and like the food here because it reminds them of home and because shop owners speak the same language.”

SOLD - $415,000

16/118-124 Longfield Street, Cabramatta NSW 2166

2

1

1

View property

Over the years, Tran has noticed the demographic of buyers shifted in Cabramatta.

“Previously, we’d have a lot of investors buy here but now when we talk to buyers are open homes, most of them are owner-occupiers,” he says.

“Repayments are much higher now, so that’s what makes units here so good for first-home buyers especially … 80 per cent used to be investors and 20 per cent moving in, but now, it’s 80 per cent looking for somewhere to live and 20 per cent investors.

“But Cabramatta is a good suburb; it’s always busy, which is good. People sometimes complain, but I tell them that if they come and there’s no parking and lots of people, it means people are doing well. If you go to a shopping centre and there’s empty car parks, businesses aren’t surviving, but to see our little suburb doing so well is good.”