You know how when you haven’t seen someone for a while, and you notice they look a little different?
Unbeknownst to you they have been on a major health kick, been on a tropical island holiday, or just are very happy and content in their lives and it shows.
Well, suburbs can surprise you, too – especially if you haven’t been there for a while.
The changing face of Five Dock
As an Inner West Buyers Agent, I have been a big fan of Five Dock for some time because like the aforementioned personal metamorphosis examples this inner-city suburb has been quietly gentrifying while everyone’s attention was elsewhere.
Five Dock always had an embarrassment of attributes but was overlooked for higher profile suburbs nearby like Haberfield and Leichhardt.
So, here are some of the reasons why I believe that Five Dock should be on the radar of savvy homebuyers.
Firstly, it’s located less than 10 kilometres from the CBD and is within the popular Canada Bay local government area.
As its name suggests, Five Dock is surrounded by waterway and bays, including the humorously named Hen and Chicken Bay, but also Abbotsford Bay, Five Dock Bay, and Iron Cove.
The suburb also has plenty of green spaces and parks such as Five Dock Park, Timbrell Park, and Halliday Park as well as easy access to the ever-popular Bay Run.
While it doesn’t have a train station, just yet, Five Dock has access to main arterial roads including Parramatta Road and Victoria Road as well as buses to the city and a ferry from Abbotsford which, let’s face it, is a fabulous way to commute to the city every day.
Five Dock is becoming increasingly popular with families because of its excellent selection of public and private schools, including Domremy College for girls and Rosebank College for co-ed students.
It also has a variety of sporting clubs and sports centres, swim schools, school tuition, dance schools, music schools, childcare options and a great library – literally everything., even including a skate park!
Because of its Italian heritage, the suburb also has a plethora of Italian delis and coffee shops plus its close to Haberfield – another foodie haven suburb – and Birkenhead Shopping Centre.
Why Five Dock is on the rise
Housing in Five Dock is mostly federation cottages and Californian bungalows – which are always in demand.
The suburb’s Great North Road is the main village strip, which it’s a long retail precinct with everything you would need. It might still seem a bit dated and daggy to some but is it clearly starting to gentrify.
Five Dock is a prime example of a classic gentrification story that starts in inner-city suburbs and ripples outwards. Remember, gentrification is a process that takes decades not weeks!
One of the most impressive pieces of major infrastructure under way is the metro rail line that is currently being built, which will link Paramatta to the CBD.
While it’s not scheduled to open until around 2030, there is already lots of activity happening.
Five Dock Station will be on this line and will offer frequent and fast travel into the CBD and also Parramatta.
Like any major infrastructure projects, not all of the locals are happy, however, most people can see the benefit, but there also some who don’t because of the disruption it causes for a few years. But there is no stopping progress!
The truth of the matter is that major infrastructure change, such as metro lines, will offer convenience to residents and make Five Dock more appealing to homebuyers in the future.
That higher demand will equal higher property prices in the years ahead, so the smart play is to make your move before the masses.
Major infrastructure changes such as this usually come with zoning changes, with much of Great North Road already rezoned, so over time we will see more higher density apartments come to Five Dock, which will bring in a younger demographic with new businesses following not long after.
We are already seeing older businesses lacking relevance close down and be replaced with hip cafes such as Dino’s and Natalina, burger joints like The Burg, and sushi bars like Sushi Maru.
There is also a burgeoning supply of health and wellness businesses, including pilates, and – at the other end of the scale – new bars and micro-breweries such as Akasha which is located in an industrial pocket of the suburb.
Redevelopment of the former Five Dock Tigers club is also an exciting development on a great site that offers views to the CBD, including fireworks on New Year’s Eve.
We can expect to see things continue to change over the years ahead because gentrification evolves over decades, not weeks or months, and has actually been quietly under way in Five Docks for a while now.
There is no question that this suburb will evolve with its increasing level of convenience slowly changing its status in the eyes of homebuyers and investors alike.
It might not be cool, edgy, or trendy like suburbs like Newtown yet, but it’s getting there, and I truly believe that in decades to come people will say I should have bought in Five Dock back in the day!
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