Waterloo Suburb Review

Summary: Centrally located and with a diverse mix of people, industry and commerce, Waterloo is a small & dense suburb which doesn’t offer many standout features other than its public transport connections and convenient physical position relative to the Sydney CBD.

Its connectivity and proximity to the city is a major plus, yet it’s also a busy suburb without much ambiance, greenery or character, which does not otherwise boast any outstanding features that would set it aside as a place to live compared to a number of the alternative suburbs which surround it.

Traffic and infrastructure issues are a factor, living here these days is mostly limited to mid-to-high-density homes, and there are portions of the suburb which remain a little dodgy due to an abundance of public housing – although it does offers easy access to some good public spaces nearby, and recent added Metro connectivity has contributed to a mild facelift.

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While “Mate, you simply HAVE to visit Waterloo!” is probably a phrase that no Aussie has ever uttered in our country’s history, there’s still enough going for this little inner-south suburb to make it worth at least considering as a place to live – especially for those content with apartment living.

It’s also a suburb that has recently been in flux, as massive redevelopments nearby have changed its face, demographics, and quality of life in recent years.

It’s still not entirely gentrified and retains some of its original grit; you’re far more likely to see a Mazda than a Mercedes on the roads here compared to, say, the “new money” feel of neighbouring and modern-slash-bland Zetland.

Waterloo benefits first and foremost by its centralised position more than anything else.

It’s not quite “city-city” as some other suburbs, yet Central Station is only a 20-ish minute walk away from Waterloo’s northern end, and is incredibly central in general to a range of different popular Sydney environments nearby – whether you want parkland, nightlife, or work.

Green Square Station and its still shiny-new surrounding amenities is also within a reasonable walk depending on which side of the suburb you live, and it’s quite a bike-able suburb in general due to relatively flat topography for those willing to cycle.

A Suburb in Flux

In many ways, Waterloo is similar to nearby Alexandria in that it’s undergone a shift from previously mostly industrial to more of a residential mix; however Waterloo is tends to be a little more oriented around apartment blocks and high-density with fewer terraces in total.

Many of its laneways and streets of semi-detached homes still have somewhat of an old, rundown feel, with streets draped with the bare minimum of overhanging greenery & garbage bins sitting outside in the sun – not exactly the most appealing streetscape in Sydney.

There’s also still a smattering of those signature Sydney older, low-rise red-brick apartment buildings throughout, however parts of the suburb have received the “Meriton treatment” with the addition of generic modern high/midrises to change its face as part of the larger Green Square project.

Waterloo still feels like an older area that’s having a fresh coat of paint slapped on top, rather than being rebuilt from the ground-up in the vein of Zetland and the like.

Various blocks among the streets of Waterloo still retain somewhat of a slummy, slightly dodgy atmosphere. This is largely due to the fact Waterloo does still have a fairly heavy housing commission presence with its public housing buildings which, like it or not, will always have something of an impact on crime rates within its borders & skews Waterloo’s crime stats per capita above the Sydney average.

However with its continued modernisation it’s become quite a bit safer in general, and overall in its more developed and slightly gentrified areas to the east & immediately around the still-relatively-newly-launched Metro, the vibe remains somewhat safe & friendly due to the sheer amount of foot traffic the area now attracts.

Its recent influx of more younger professionals has brought with it a revitalisation of its cafe and small-sale dining scene, too, and now there’s a fair few more decent options around for grabbing a quality bite to eat in Waterloo than ever before.

It’s also diversified more in terms of cuisines in recent years, with a range of Asian restaurants such as Thai, Korean and Chinese all adding to its standard fare.

It’s also got a decent enough of a smattering of amenities – such as Coles and Aldi for supermarket/grocery needs – to make it a practical suburb for daily use.

Add in Allianz Stadium nearby for sporting events as well as proximity to the race course, and there’s just enough activities on offer to keep Waterloo interesting.

“Waterloo still feels like an older area that’s having a fresh coat of paint slapped on top, rather than being rebuilt from the ground-up in the vein of Zetland and the like.”

Greenery-wise, Waterloo is largely unspectacular. Waterloo’s streetscape is a little bland and in addition to the occasional rundown warehouse or storefront, it’s only populated with a small handful of “strip-style” pockets of greenery throughout outside of its main green area around its housing commission section to the west.

There’s a couple of pleasant little micro-parks for a dose of refreshment; however given the suburb’s tiny size these don’t comprise a very large physical area overall.

For those seeking a larger-scale outdoor space, Waterloo’s main benefit in this regard is having the expansive Moore Park – central Sydney’s flagship public recreation area – just a stone’s throw away.

Waterloo thus serves as a (slightly) more affordable alternative for urban living compared to say, Surry Hills a couple of suburbs away, losing some of the ‘hipster appeal’ without sacrificing too much in terms of access to amenities.

While it’s still not “cheap”, apartments here fall within a more reasonable price bracket to these handful of suburbs which are realistically only slightly closer to Sydney city.

You won’t find much available in terms of detached housing availability in Waterloo nowadays, so your options will be either high-density living or grabbing one of the rare terraces that pop up on the market only occasionally for a pretty penny.

All this development happening in and around Waterloo might be great for adding modern conveniences, but it’s also another layer on top of the black mark of traffic congestion that the area suffers.

Those looking to move to the area need to keep in mind the massive amount of growth that’s continued to take place here in recent & coming years, as it’ll continue to become an extremely high-density population area as a result of planning and development schemes.

If you’re considering living in Waterloo, it may really be worth pondering whether or not you can exist without a car. Its traffic issues are already terrible, and given the suburb’s convenient position, your life will be a lot easier – particularly with the addition of the Metro providing additional connectivity, and the heavy rail already existence via Green Square at its southern end.

This influx of additional residents may also effect its demand for schools and other public services disproportionately to its growth – as a result, it’s probably best suited more for younger couples and professionals than larger families, at least for the time being until these projects play out.

The Verdict

Waterloo is currently still in a bit of a difficult position to assess, as it and its neighbouring areas are set to continue to rapidly evolve over the coming years. While in theory its location makes it ideally balanced to cater to many lifestyles, its lack of low-density housing can hamper things for both those with pets and bigger families.

Its road situation remains a major concern, which will either play a major factor in your decision – or not be one at all. Adopt the “European-style” of urban living and walk, cycle, or take the train/metro everywhere, and you’ll reap all the benefits Waterloo’s location offers; stick to a reliance on a car on a daily basis, and it may be an exercise in frustration.

If you’ve been looking at Surry Hills, Darlinghurst or even Redfern as suburbs you think would suit your tastes but the pricetag makes them a no-go, Waterloo is well worth considering as an alternative.

While you may want to rent rather than buy for the time being, there’s enough benefits to living here to make daily life exceptionally convenient unless you work in distant locations such as the Western Suburbs or the upper North Shore.