Should I buy in Cremorne?
Suburb Report – Cremorne, NSW, 2090
Location
Cremorne is a suburb on the Lower North Shore of Sydney and is located six kilometres north of the Sydney CBD. Cremorne is one of the most exclusive suburbs on the Lower North Shore with its sweeping city and harbour views and large numbers of magnificent homes. Cremorne is in the local government area of the Municipality of North Sydney and is located between Neutral Bay and Mosman.
Household Occupancy
The primary age group in Cremorne is 30 - 39 years. Sole parents make up 39% of the population, childless couples 25% and couples with children 17%. 24% of the population of Cremorne is purchasing their property and 29% own their home outright. 45% are renters. The homeowners in the suburb would be repaying more than $2,000 per month in mortgage repayments and statistics show that people in Cremorne generally work in a professional occupation.
Median Prices
Currently the median sales price of houses in the area is $1,450,000. On average, this price tag will purchase a three bedroom, two bathroom home with a garage. In comparison, the median sale price for a one to two bedroom, one bathroom unit with car parking facilities is $619,000. Top sale prices for each category of $3,900,000 and $2,800,000, respectively, have been recorded in the last twelve months. Please note that these sales have been achieved on significantly larger properties than the median. 162 units and 35 houses were sold in Cremorne in 2009.
The Properties
24 Cranbrook Avenue Cremorne is a 1930s classic Californian bungalow. Featuring the sought-after features of the Art Deco era, but with modernised kitchen, bathrooms and an outdoor area. The house sits on 687sqm in a quiet street, very close to the Cremorne shops, cafes, cinemas and express city transport. It also features an automatic garage and additional parking. The house contains formal lounge and dining, three bedrooms, built-in robes and separate home office.
If you would like a recent sales history report free of charge, please contact us.
The Neighborhood
Cremorne is a picturesque suburb with many areas boasting harbour views and Cremorne Point offers a popular walking track along the harbour foreshore. There are three childcare centres and three schools including SCEGGs Redlands.
Although well-known for its stately homes, Cremorne includes a large number of units and also a busy commercial area. Cremorne has three parks in addition to the foreshore area which includes lots of space for picnics and family activities.
Transport
There is a direct bus route into the Sydney CBD, which is approximately six kilometres or 10 -12 minute drive. Cremorne can be accessed by major roads, such as Military Road, Ernest Street and Kurraba Road. The Gore Hill Freeway is also easily accessible. Ferries are also available to Circular Quay from Cremorne Point as well as a number of other local suburbs are accessible through close ferry stops.
Restaurants, Accommodation, Amenities
There are many restaurants in the area located along Military Road, offering a mix of international cuisine – particularly Thai and Japanese. Motel/apartment accommodation is available at the Park Regis Apartments on Military Road as well as a number of boutique bed and breakfast options. The famous Neutral Bay Oaks Hotel is only minutes away. Royal North Shore Hospital is also nearby on the Pacific Highway in St Leonards.
Want help?
If you are looking to buy in Cremorne please contact your local Mortgageport team consultant for further information and assistance on what loan best suits your needs.
