Shift happens: Hipsters’ inner city exodus
Changing face of real estate SYDNEY’S hipster culture has been shifting to suburbia as penny- pinching young people abandon more inner city suburbs like Newtown and Surry Hills to buy in cheaper outlying areas or move back in with their parents. An analysis of census data has revealed traditionally family -friendly suburbs such as Gordon, Lindfield, Rodd Point and Eastwood had among Sydney’s biggest spikes in the population of 25-35-year-olds over the past five years. This was despite no major changes to rental or property demand or natural population increase . Hipsters are leaving Newtown. And moving in with their parents. Analysts instead attributed the rise in young adults moving out of the city to a trend in which many were returning to their family homes to help save money. With average weekly room rents within 5km of the CBD at $350 and apartment rents at $650, those who moved back in with their parents could save about $18,000 or more per year. Other suburbs with a signific...