However, the 2014 lockout laws saw many nightclubs close and the crime rate drop as Sydney's nightlife hubs moved to Darling Harbour and Newtown.

Specifically, the area of Oxford Street between Hyde Park and Paddington Town Hall became known from the early 1980s as 'The Golden Mile' because of the growing density of popular venues for the gay community.

[4] The section to the east of Taylor Square, running through the suburb of Paddington forms an upmarket shopping strip and represents the home of the new medical faculty of the University of Notre Dame Australia as well as the University of New South Wales' College of Fine Arts, Victoria Barracks, Paddington Bazaar and St Vincent's Hospital, Sydney amongst other locations.

It continues through Paddington, and branches off at the intersection with Syd Einfeld Drive in Woollahra to become a suburban street through Bondi Junction; a portion of it has been converted into a pedestrian mall through its commercial centre.

Trams to Bondi and Bronte beaches travelled down Oxford Street until the line was closed in 1960, replaced by the current bus service.

Its western end was altered to commence at Taylor Square on 2 December 1964,[9] re-aligned along the Bondi Junction Bypass (later named Syd Einfeld Drive when it opened in 1979), then moved closer to the city to start at the intersection with Crown Street on 25 July 1997.

Bronka and The Royal Arcade provides direct pedestrian passage way to Spring Street and Eastgate Bondi Junction.

[19][20] However in November 2017 Waverley Council had voted to reject any proposals for a light rail along Oxford Street or Bondi Road in favour of local businesses.

[21] After the 2023 WorldPride festival a bidirectional separated cycleway will be constructed between Taylor Square and Hyde Park on Oxford street.

[24] On 27 June 2011, the Lord Mayor of Sydney, Clover Moore proposed new directions for lower Oxford Street, and on 22 August 2011 the Council resolved to undertake a number of short, medium and long term initiatives to activate City owned properties in the precinct.

[26] A major redevelopment, called Oxford & Foley, spanning three blocks on the north side of the strip, is expected to be completed in 2025.