Waterloo vs ZetlandTwo Sydney suburbs compared for a home loan
Waterloo (NSW 2017) is approximately 3 km south of the Sydney CBD, on the Metro line. Zetland (NSW 2017) is approximately 4 km south of the Sydney CBD, in the Green Square renewal area. At the 2021 Census, Waterloo had 16,379 residents with a median age of 33, and Zetland had 12,622 residents with a median age of 30.
In both suburbs the most common occupied dwelling was flats and apartments. Flats and apartments made up 91% of occupied dwellings in Waterloo and 92% in Zetland, while 74% of Waterloo households rented compared with 71% in Zetland. These differences matter for finance, because lenders assess apartments, strata buildings and houses on land differently.
Both suburbs are in the same state, so transfer duty is calculated on the same scale and the difference in upfront cost comes from the purchase price. The panel below applies that scale, and an estimate of lenders mortgage insurance, to the prices you enter.
NSW 2017 · Inner South Sydney
Waterloo
Waterloo gained a metro station in August 2024 and records the highest renting share and lowest outright ownership of any suburb in these guides.
City of Sydney. Approximately 3 km south of the Sydney CBD, on the Metro line.
Read the full Waterloo guideNSW 2017 · Inner South Sydney
Zetland
Zetland sits at the centre of the Green Square renewal area, where 92.5 per cent of homes are apartments and 71.1 per cent of households rent.
City of Sydney. Approximately 4 km south of the Sydney CBD, in the Green Square renewal area.
Read the full Zetland guide
What buying in Waterloo and Zetland would mean for the loan
The difference between two suburbs is usually a difference in price, and price drives the deposit, the transfer duty, any lenders mortgage insurance and the repayment. Enter the prices you are seeing and the panel works out each of those for Waterloo and Zetland.
Your prices and deposit
Enter the price you are seeing in each suburb. BorrowWise does not quote prices, so the comparison uses yours.
Enter a price for Waterloo to see the repayment, transfer duty and upfront cash.
Enter a price for Zetland to see the repayment, transfer duty and upfront cash.
Warning: The interest rate used here is an example only. It is not a comparison rate and is not a rate offered by any lender, and it does not include fees and charges. Different rates, terms, fees or loan amounts will give a different result.
Estimates only. Repayments assume a principal and interest loan at a constant rate, which is an assumption and not a current market rate. Transfer duty is indicative for established homes, first home buyer relief depends on eligibility, and upfront cash includes an allowance of $3,000 for conveyancing and inspections. Lenders mortgage insurance is an estimate and is added to the loan. A lender makes its own assessment.
Waterloo and Zetland: Census profile compared
Figures are from the 2021 Census, so rents, repayments and incomes have moved since. They are most useful for comparing one suburb with another and with Australia as a whole.
| Measure | Waterloo | Zetland |
|---|---|---|
| People and households | ||
| Residents | 16,379 | 12,622 |
| Median ageAustralia 38 | 33 | 30 |
| Average household sizeAustralia 2.5 | 1.8 | 2.0 |
| Median household income, weeklyAustralia $1,746 | $2,028 | $2,192 |
| Housing costs at the 2021 Census | ||
| Median rent, weeklyAustralia $375 | $530 | $600 |
| Median mortgage repayment, monthlyAustralia $1,863 | $2,500 | $2,642 |
| Who owns and who rents | ||
| Households rentingAustralia 31% | 74% | 71% |
| Owned with a mortgageAustralia 35% | 18% | 20% |
| Owned outrightAustralia 31% | 6% | 8% |
| Types of home | ||
| Separate housesAustralia 72% | 0% | 0% |
| Townhouses, terraces and semi-detachedAustralia 13% | 8% | 7% |
| Flats and apartmentsAustralia 14% | 91% | 92% |
| Homes with two bedrooms or fewer | 83% | 86% |
| Homes with four bedrooms or more | 1% | 2% |
| Dwellings unoccupied on Census night | 14% | 15% |
Source: Australian Bureau of Statistics, 2021 Census (CC BY 4.0). Tenure shares exclude households that did not state their tenure. Dwelling shares are of occupied private dwellings.
Home loan considerations in Waterloo and Zetland
Lenders treat houses on land, townhouses and apartments differently, and some apply extra conditions to small apartments, high-density buildings or particular postcodes. These are the points each guide raises.
Waterloo
- Investors
- First home buyers
- Studios and one-bedroom units often fall below minimum floor areas, and some lenders decline studios.
- Some lenders apply lower maximum loan-to-value ratios where social housing is concentrated.
- Single-development exposure limits apply in a suburb built through large towers.
- The metro station opened in August 2024, after the Census these figures describe.
- Renting at 74.1 per cent means most purchases are assessed as investment lending.
Zetland
- Investors
- First home buyers
- Single-development exposure limits are frequently reached in a suburb of large towers.
- One-bedroom dwellings and studios often fall below minimum internal floor areas.
- Special levies for defect rectification can be significant in recent high-rise.
- Green Square is still being built out, so outlook and sunlight may change.
- Former industrial land means contamination history is worth reading on the 10.7 certificate.
Housing stock in Waterloo and Zetland compared
Waterloo
- Apartments
- The 7,330 flats counted at the 2021 Census, 91.1 per cent of occupied homes.
- Studios and one bedroom dwellings
- At the 2021 Census, 2,221 dwellings had one bedroom and 264 were studios, the highest studio count in these guides.
- Almost no houses
- Only 40 separate houses were counted among occupied private dwellings at the 2021 Census.
Zetland
- Recently built apartments
- The 5,597 flats counted at the 2021 Census, 92.5 per cent of occupied homes.
- One and two bedroom dwellings
- At the 2021 Census, 3,400 dwellings had two bedrooms, 1,773 had one and 59 were studios.
- Almost no houses
- Only 21 separate houses were counted among occupied private dwellings at the 2021 Census.
Official sale price and rent figures for Waterloo and Zetland
Only figures published free of charge by a government agency are shown. Where none is published the space is left empty rather than filled with an estimate. Each guide charts the full series.
Waterloo
No government agency publishes a free median sale price or rent series for Waterloo, so none is shown. A broker can supply recent comparable sales for a specific property as part of a free assessment.
Zetland
No government agency publishes a free median sale price or rent series for Zetland, so none is shown. A broker can supply recent comparable sales for a specific property as part of a free assessment.
Transport, schools and amenities in Waterloo and Zetland
Waterloo
Transport
- Waterloo Metro (metro)
- Green Square Station (train)
- Sydney buses (bus)
- Botany Road (road)
Amenities
- Green Square town centre
- Waterloo Park
- Gunyama Park
Zetland
Transport
- Green Square Station (train)
- Waterloo Metro (metro)
- Sydney buses (bus)
- Botany Road (road)
Amenities
- Green Square town centre
- Green Square Library
- Gunyama Park
School listings show name, level and sector only. Enrolment areas change, so confirm eligibility for a specific address with the school or the New South Wales education department.
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Request a free assessment: Waterloo or Zetland
An accredited mortgage broker can check your borrowing power against prices in Waterloo and Zetland, and explain how lenders treat the homes you are considering. The assessment is free of charge and carries no obligation.