Ettiene West
37 Ada Place, Ultimo, NSW 2007
Contact Agent
3 1
Open Wednesday 17 June 1:30 pm Auction Saturday 11 July 3:45 pm🏛️ About This Suburb (Last Updated Date: 2026-03-13)
History, Aboriginal heritage, and the story behind the name.
Ultimo — Gadigal Country
Originally a site for heavy industry and wool storage, Ultimo was dominated by massive sandstone woolstores and the Pyrmont Power Station. The suburb underwent significant urban renewal in the 1980s and 90s, transitioning from industrial decay to a high-density residential and educational precinct.
Today, Ultimo is a vibrant, high-density hub characterized by its student population, tech startups, and repurposed industrial architecture. It serves as a critical link between the CBD and the inner west.
Overall Score
7.5
A strong inner-city performer with exceptional utility but high density.
Name Origin
Derived from the legal term 'ultimo' (meaning 'in the last month'), used in a court case involving Dr John Harris, who owned the original estate.
Established
Gazetted 1840s
Heritage
Home to some of Sydney's largest former woolstores.
Education Hub
Hosts UTS, TAFE NSW, and is adjacent to USyd.
Cultural Landmark
Location of the Powerhouse Museum (MAAS).
📊 Scorecard
12 key dimensions scored 0–10. Each score includes a one-line explanation.
Market Momentum
6
Steady demand driven by the return of international students and CBD workers.
Amenity
9
Exceptional access to dining, retail, and cultural institutions.
Schools
7
Ultimo Public School is highly regarded, though high school options require travel.
Transport
10
Perfect scores for light rail, bus, and proximity to Central Station.
Risk Profile
6
Risks are concentrated in building defects and high strata levies.
Liveability
7
High for young professionals and students; lower for families seeking space.
Demographics
6
Highly transient with a very high proportion of young renters.
Rental Demand
9
Consistently high due to proximity to universities and the CBD.
Growth Potential
7
Supported by the 'Tech Central' precinct development and CBD proximity.
Affordability
5
Expensive on a per-square-metre basis, though entry prices are lower than houses.
Crime & Safety
6
Typical inner-city profile with higher rates of opportunistic theft.
Walkability
10
One of the most walkable suburbs in Australia.
⚡ Quick Snapshot
Key metrics at a glance, plus your top advantages and watch-outs.
Median Unit Price
$885,000
Reflecting 2025-26 market levels
Rental Yield
4.8%
Gross yield for apartments
Walk Score
99/100
Walker's Paradise
Renter Ratio
68%
High investor concentration
CBD Distance
1.5km
Walking distance to Town Hall
Zoning
MU1
Mixed Use high density
✅ Key Advantages
- Unbeatable proximity to Sydney CBD and major transport hubs.
- Strong rental yields and historically low vacancy rates.
- Unique heritage character with high-ceiling woolstore conversions.
- Direct access to the Goods Line and high-quality public spaces.
- Walking distance to major universities and the Tech Central precinct.
⚠️ Key Watch-Outs
- High strata levies in older buildings and heritage conversions.
- Significant noise pollution from major arterials and student activity.
- Limited supply of larger 3-bedroom family apartments.
- Oversupply risk in the broader high-density CBD fringe.
- Lack of traditional backyard space and limited street parking.
🏘️ Suburb Overview
Character, property mix, price range and what drives value here.
🏙️ Character
Urban Professional
How this suburb feels day-to-day.
🏠 Property Types
Mostly apartments (modern and heritage conversions), very few terraces.
Dominant dwelling stock.
💰 Price Range
$650k – $2.2m
Typical entry to ceiling.
💡 Why It Matters
Ultimo is the engine room of Sydney's education and tech sector. For buyers, it offers a lifestyle of convenience where a car is entirely optional, though it requires a tolerance for high-density living.
💰 Price Guide & Market Trends
Medians, rental market, 5-year history and property split.
🏠 House Median
$1,850,000
$1.5m – $2.4m
🏢 Unit Median
$885,000
$680k – $1.4m
📈 Price Trend
+4.2% past 12 months
12-month movement
🔑 Weekly Rents
Houses $1,100pw, Units $850pw
Current asking rents
📉 5-Year Price History
🏘️ Property Type Split
The market is dominated by units. House data is often skewed by the very low volume of terrace sales. Investors should focus on 1 and 2-bedroom unit performance.
🎯 Affordability
How this suburb compares to metro and state medians.
🏙️ vs Metro Average
12% below Sydney unit median
Price comparison
📋 Income Ratio
8.5x annual income
Median price ÷ median income
💳 Gross Yield
4.8% gross yield
Estimated rental yield
More AffordableModeratePremium
Entry levelMid rangePremium
While entry prices for units are accessible compared to houses, the price per square metre is high. Strata costs significantly impact monthly affordability.
🔥 Rental Demand
Vacancy rates, demand pressure, tenant profile, and investor outlook.
📊 Vacancy Rate
1.4%
Lower = tighter market
⏱️ Days to Lease
16 days
Avg time on market
📈 Rent Growth p.a.
+8.5% pa
Annual rental increase
Demand Level
Very High
👤 Tenant Profile
International students, university staff, and young CBD professionals.
💼 Investor Outlook
Extremely stable due to the proximity to UTS and USyd. Capital growth is moderate, but cash flow is typically superior to outer suburbs.
🚀 Growth Potential
Historical capital growth, infrastructure pipeline, and 5-year outlook.
+4.2%
1-Year Growth
+12.5% cumulative
3-Year Growth
+22% cumulative
5-Year Growth
📍 Growth Drivers
- Tech Central precinct development creating thousands of jobs.
- Ongoing redevelopment of the Pyrmont/Ultimo peninsula.
- Return of international migration and student volumes.
- Limited new land supply for further development.
⛔ Headwinds
- Interest rate sensitivity for high-leverage investors.
- Potential for increased strata regulation and costs.
- Competition from new developments in nearby Haymarket.
🔮 5-Year Outlook
Steady growth anticipated as the Tech Central precinct matures, cementing Ultimo as a primary residential choice for the innovation sector.
🛡️ Crime & Safety
Safety index, trend comparison, and what to check locally.
6
Safety Score
Average
📉 Trend
Stable
vs last 12 months
🏙️ vs Metro Average
10% above metro average for theft
Relative comparison
Risk Categories
Theft: High
Assault: Medium
Property Damage: Medium
📋 What to Check Locally
Check building security features and secure basement parking. Most crime is opportunistic theft related to the high foot traffic.
⚠️ Risk Profile
Natural hazards and planning risks to verify before buying.
📋 Summary
Primary risks involve building integrity in older high-rises and the financial burden of heritage maintenance.
🌊 Flood Risk
Low risk; some localized flash flooding in low-lying streets during extreme events.
🔥 Bushfire Risk
Nil
🏦 Insurance Impact
Generally available, but premiums are rising for buildings with cladding history or high-density risks.
🗺️ Planning & Zoning
Development controls, overlays, and what's changing locally.
📐 Typical Zoning
MU1 Mixed Use
🔲 Overlays
Heritage Conservation Area, High Density
🏗️ Development Hotspots
Central Precinct, Powerhouse Museum redevelopment site.
Zoning allows for significant density, which protects land value but can lead to overshadowing and construction noise.
🌳 Liveability
Day-to-day experience — transport, amenity, green space, schools and healthcare.
🚌 Transport
World-class; light rail, multiple bus routes, and walking distance to Central Station.
🛍️ Amenity & Retail
High; Broadway Shopping Centre and Chinatown are minutes away.
🌲 Parks & Recreation
Moderate; Wentworth Park and the Goods Line provide green relief.
🏫 Schools
Good; Ultimo Public School is a flagship vertical school.
🏥 Healthcare
Excellent; close to Royal Prince Alfred (RPA) Hospital.
👥 Demographics
Who lives here — income, age, ownership, and education levels.
A young, educated, and multicultural population with a high proportion of non-family households.
💵 Median Income
$82,000 pa
🏠 Ownership
28% owner-occupied, 68% renting
🎂 Age Profile
Median age 28
🎓 Education
High; over 50% hold a bachelor degree or higher.
📊 Age Distribution
The demographic profile ensures high rental liquidity but can result in a less cohesive 'neighborhood' feel compared to suburban areas.
🏗️ Major Developments
Infrastructure pipeline and what it means for values and liveability.
📋 Overview
The Tech Central project is the most significant driver, aiming to turn the area into a global innovation hub.
📈 Positive Impacts
- Increased high-value employment opportunities.
- Improved public infrastructure and pedestrian links.
- Revitalization of the Central Station precinct.
📉 Negative Impacts
- Prolonged construction noise and traffic disruption.
- Potential for increased cost of living and commercial rents.
🗺️ Nearby Suburb Comparison
How neighbouring suburbs stack up on price, lifestyle and who they suit.
📍Pyrmont
Position
North
Price
More expensive
Lifestyle
More waterfront access, slightly older professional demographic.
Best for
Corporate professionals and downsizers.
📍Glebe
Position
West
Price
More expensive for houses
Lifestyle
Village feel, more green space, heritage terraces.
Best for
Families and academics.
📍Chippendale
Position
South
Price
Comparable
Lifestyle
Arts-focused, high-density modern developments like Central Park.
Best for
Young creatives and tech workers.
🔍 Similar Suburbs
Suburbs with a comparable profile — useful if this one is over budget or sold up.
Carlton
VIC
8/10
University-adjacent, high student population, heritage architecture.
South Brisbane
QLD
7.5/10
High-density, cultural precinct, CBD fringe.
Acton
ACT
7/10
Dominated by university presence and modern apartments.
Haymarket
NSW
7.5/10
Immediate neighbor with identical transport and density profiles.
💬 Community Sentiment
Aggregated themes from resident discussions, forums and local feedback.
📊 Overall Community Sentiment
Residents love the convenience and 'energy' of the suburb but often complain about the noise and the cost of strata living.
★★★★☆
Ultimate Convenience
I haven't owned a car in three years. Everything I need is within a 10-minute walk.
Walkability
Traffic
★★★☆☆
Strata Stress
The apartment is great, but the quarterly levies for the woolstore maintenance are eye-watering.
Character
Strata Fees
★★★★★
Study Life
Living next to UTS is perfect. The library is my second home and the food options are endless.
Location
Dining
★★★★☆
Investment Yield
I've never had a vacancy longer than a week. The demand from students is relentless.
Rental Demand
Capital Growth
★★★☆☆
Family Suitability
The new school is amazing, but finding a park or a quiet spot for a pram is a challenge.
Schools
Space
★★★★☆
City Access
We moved from the suburbs to be closer to the theatre and galleries. It's a different pace of life.
Culture
Noise
💡 Tailored Advice
Personalised guidance for every role in this market.
🧑💼 Buyer Strategy
- Prioritize buildings with a high percentage of owner-occupiers to ensure better maintenance.
- Scrutinize strata minutes for any mention of combustible cladding or structural issues.
- Check the orientation of the unit; noise from Wattle St or Harris St can be significant.
- Look for heritage woolstore conversions for unique capital growth potential.
- Verify if the building has a high 'short-term rental' (Airbnb) concentration.
- Negotiate harder on units without parking, as they are harder to resell.
❓ Questions to Ask the Agent
- What is the current percentage of owner-occupiers in this building?
- Are there any active or pending special levies for building maintenance?
- Has the building been cleared of any combustible cladding issues?
- What are the quarterly strata, council, and water rates?
- Is there a sinking fund forecast available for the next 10 years?
- Does the unit have a storage cage, and is it on the title?
- Are there any major developments planned for the immediate neighboring lots?
- What is the building's policy on short-term rentals like Airbnb?
🏷️ Seller Strategy
- Highlight proximity to Tech Central and major universities in marketing materials.
- Ensure all strata documentation is up-to-date and transparent to build buyer trust.
- Style the property to appeal to young professionals or high-end student rentals.
- Address any minor maintenance issues that might suggest broader building neglect.
- Emphasize the 'walk-to-work' lifestyle and low maintenance requirements.
📣 Positioning Tips
Position the property as a 'strategic urban asset' that offers both lifestyle utility and defensive rental income in a supply-constrained CBD fringe.
💼 Investment Case
High-yield, low-vacancy play focused on the education and tech sectors.
⚠️ Investment Risks
High strata levies eating into net yield; potential for legislative changes regarding student visas.
📈 Action Plan
- Target 2-bedroom units with 2 bathrooms to maximize rental appeal to sharers.
- Budget for higher-than-average strata levies (approx. $1,500-$2,500 per quarter).
- Focus on buildings within 500m of UTS or the Goods Line.
- Consider professional property management to handle high tenant turnover.
🔑 Renter Tips
- Apply early; the best units lease within days of hitting the market.
- Check for double-glazing if the unit faces a main road.
- Verify internet speeds, as some older buildings have limited fiber access.
- Look for buildings with communal rooftop spaces to compensate for small balconies.
🏘️ What Renters Love Here
Unrivalled access to city life and education.
⚠️ Renter Watch-Outs
Noise, small living spaces, and competitive rental market.
🏢 Landlord Strategy
- Offer flexible lease terms to align with the university calendar (Feb/July starts).
- Maintain high-quality appliances to attract professional tenants.
- Regularly review strata insurance valuations.
- Consider including water or internet in the rent for student-focused studios.
📋 Compliance & Management
Ensure strict adherence to smoke alarm and window safety lock regulations in high-density blocks.
🤝 Agent Insights
- The market is currently split between budget-conscious students and premium-seeking professionals.
- Parking adds roughly $100k-$150k to the value of a 2-bedroom unit.
- Heritage features in woolstores command a 10-15% price premium.
🎯 Marketing Angles
The '15-minute city' lifestyle and the future of Tech Central.
👤 Target Buyer Profile
First home buyers (professionals), parents buying for university-aged children, and yield-focused investors.
✅ Due Diligence Checklist
Tap items to tick them off. Don't skip these before signing anything.
✓
Order a comprehensive strata report (essential).
✓
Check for NBN/Fiber availability and speeds.
✓
Visit the property during peak hour to assess noise levels.
✓
Inspect the basement for signs of dampness or poor drainage.
✓
Verify the internal square meterage against the contract of sale.
✓
Confirm the building's pet policy if applicable.
✓
Check the proximity to the nearest light rail or bus stop.
✓
Review the City of Sydney's local area plan for nearby rezoning.
✓
Assess the condition of common areas (elevators, hallways, gyms).
✓
Verify parking height clearances for larger vehicles.
✓
Check for any heritage restrictions on internal renovations.
✓
Confirm the school catchment for Ultimo Public School.
📚 Government Sources & Disclaimer
Official council and government links only. Always verify independently before any property decision.
⚠️ Important Disclaimer
This report is based on data available as of 2026-03-13 and is intended for informational purposes only. It does not constitute financial or legal advice. Buyers should conduct their own independent due diligence and seek professional advice before making any property purchase.
