The good - rooms are clean, comfortable, and the majority of staff are helpful. There is a nice rooftop terrace with a beautiful view which makes this worthwhile alone.
The bad - It is not very close to the beach, especially compared to the other local hostels. A couple of the staff are miserable and rude and misinformed. The kitchen is tiny, dangerously tiny, absolutely pathetic for a hostel of this size. There are food thieves too - I had 4 items stolen in 2 days. This is partially due to the hostels 'no bags in the fridge' policy meaning all your food is on display in a tupperware tray. They say they are serious about theft but nothing was done, I was told 'this is what some backpackers are like'. The kitchen is poorly equipped too. There are a lot of families staying here which is a bit strange for a YOUTH hostel. I don't know why parents would bring their kids to a backpackers hostel. As a result there is no party atmosphere and you don't really meet people here like you do in other hostels. Although the rooftop terrace is nice, the courtyard is directly below you and any calm sound of the waves in the distance is cancelled out by the annoying table tennis being played constantly. Although the bathrooms are cleaned daily sadly they are often smelling of urine, get dirty again quickly and sometimes there is no hot water and the toilets do not always work properly. There are no free breakfasts, internet or vouchers of any kind.
Stay here if you want to chill out, read a book and are not bothered about cooking or food going missing.
Do not stay here if you want to meet people, party, be close to the beach or cook.
Also, Bondi Beach as a whole is VERY expensive. Public transport is qutie poor (and the drivers unfriendly), if you want a cheap shop, meal or a decent night out (most of Bondi shuts down at midnight) you will need to go to the city or Kings Cross.
