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Balmain

The working-class brawn has long gone from this dockside suburb, which is famous for staging the first meeting of the Australian Labour Party at the Unity Hall Hotel back in 1891.  The cultural imperialists have laid claim to this peninsula suburb in a way that only Saab-driving proletarians can.  Most of the cute workers' cottages have evolved into bijou renovated pads with the obligatory bi-fold doors opening to courtyards.  The larger free-standing houses are confined to the better streets such as White and Glassop.  Agents report this is a suburb that people rarely move out of, preferring instead to upgrade to a bigger house as finances allow.

What it costs to buy

Median house price: $875 000

Median apartment price: $540 000

Average annual growth, houses: 7.4%

Average annual growth, apartments: 5.3%

What it costs to rent

Average house rent: $595 per week

Average apartment rent: $425 per week

Distance to city 3 kilometres

Borders Balmain East, Birchgrove, Rozelle

Transport Bus, ferry

Parks Ann Cashmann Reserve, Birrong Park, College Street Playground, Elkington Park, Ewenton Park, Gladstone Park, Paringa Reserve, Punch Park, White Bay Park

Schools Balmain Public

And ...Champion swimmer Dawn Fraser was born in Balmain, and the local swimming pool has been named after her.

Meet the Editors

Stephen Nicolls is the long-standing editor of the Sydney Morning Herald's property section, Domain. 

Alex May writes (and fantasises) about homes and property.  She contributes to Domain, as well as newspapers and magazines.

Mercedes Maguire is a freelance journalist specialising in property and food.

Meet the Property Analyst

Michael McNamara is the general manager of the Fairfax-owned Australian Property Monitors, a property research organisation.