What's Up With Annandale?

There is something about the priceyness (priciness?) of Annandale that I'm not quite getting. Much of it is under the flight path, and there's no train station.

How about a 1 bedroom terrace for $575,000? That's nearly $600k folks, for a one bedroom tiny workman's cottage, living cheek by jowl with your rich and similarly cramped neighbours. In this market, it will probably go for more. Just a couple of blocks across Parramatta Road, in the unfashionable end, you could get much better value for your money in Stanmore, aircraft noise included, and train station thrown in, just as close to the city... and even then it's far too pricey for my money.

What on earth is wrong with Sydney? This is not New York City people! And I'd like to keep it that way thanks...