What’s not to love about Lilyfield? Those in the know will tell you that they love the outdoor lifestyle this suburb offers. There are plenty of parklands to explore; as well, Lilyfield is a key part of the Bay Run, a 7-kilometre-long pedestrian and cycling circuit around Iron Cove passing through Rozelle, Lilyfield, Haberfield, Five Dock, Rodd Point, Russell Lea and Drummoyne. Locals love the Bay Run, especially on the weekends. And to top off the benefits of Lilyfield, the light rail stops in Lilyfield, offering easy access to Central Station.

A little about Lilyfield’s history

Located only 6 kilometres west of the CBD, Lilyfield is a green oasis in the midst of suburbia. This area used to be mainly farmland back in the day with the most prominent landmark being the former Callan Park Psychiatric Hospital. This became the Rozelle Hospital, which closed in 2008.

Some of the remaining sandstone buildings were home to the Sydney College of the Arts until the college consolidated premises at Sydney University. Now many concerned locals under the auspices of Friends of Callan Park work to have buildings restored and the space to continue to be open to the public.

Lilyfield suburb review and lifestyle

What residents love the most about living in Lilyfield is the number of open spaces for recreational activities and the lovely tree-lined streets. There are a number of large parks with walking and biking tracks that are popular with young parents and people with dogs.

The suburb also boasts a number of sports ovals and the Leichhardt Park Aquatic Centre. A popular spot with locals is Callan Park that covers 61 hectares.

As the park is on Gadigal Wangal Country, it features a number of important cultural heritage sites. Plus, it’s the home of a large variety of different tree species and rare remnants of bushland. The park is governed by the Callan Park (Special Provisions) Act 2002 to make sure that it is protected and a place for the public to enjoy.

For parents with young children, there’s the Orange Grove Public School and the Inner Sydney Montessori School. Plus, there’s a community preschool on Emmerick Street.

Amenities-wise, the suburb offers some small grocery stores, a few boutique-type shops and an assortment of restaurants and cafés. One of the most popular shopping destinations is the Orange Grove organic food market, held at the Orange Grove Public School every Saturday.

Coffee lovers should definitely check out The Local Press at 331 Balmain Road for great coffee and a lunch menu that changes daily.

Lilyfield property information

Properties around Lilyfield include Victorian terraces, Art Deco apartment blocks, workers’ cottages and 1960s and 1970s apartment blocks as well as new developments. Many of the terrace houses sit on long, narrow blocks, which makes them ideal for people who are looking for that little extra outdoor space.

Houses in Lilyfield currently have a median price of around $2.2 million; however, capital growth has slowed over the past 12 months. For property investors, rental yields on houses are currently sitting at 2.40%. These are attracting median rents of $925 per week.

On the other hand, units are averaging a median price of around $900,000 with weekly median rents of $545 and yields of 3.01%.

While prices dropped slightly in August 2022, they’ve been holding fairly steady since then. On the other hand, rents have been marginally increasing since October 2022. Interestingly, unit prices are starting to rise again, so if you’ve been sitting on the fence about buying an investment unit in Lilyfield, you might want to consider taking some action now.

With excellent rental yields and the shortage of available rentals in most areas around the country, property investors should be seriously looking at the market and taking advantage of current conditions. Sellers should take heart from the latest CoreLogic figures that suggest strongly that we’ve got through the downturn and home prices are rising once again.

Can we help with your Lilyfield home?

Whether you’re ready to sell or need help to rent your investment property, we have the experience and local knowledge to make your property journey easier.

Looking for help selling your home or renting your investment property? Our team at Belle Property Balmain support homeowners across Balmain, Balmain East, Birchgrove, Rozelle and Lilyfield. Feel free to get in touch for a no-obligation discussion or property appraisal.

Belle Balmain 2023 Property Report

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