Should I buy in Greenwich?
Suburb Report – Greenwich, NSW, 2065
Location
Greenwich is a suburb on the Lower North Shore of Sydney. It is seven kilometres north-west of Sydney’s CBD and is in the local government area of the Municipality of Lane Cove. The suburb lies on the northern peninsula of Sydney Harbour, at the opening of the Lane Cove River.
Household Occupancy
The predominant age group in Greenwich falls between 40-49 years. In relation to demographics, couples with children make up the largest group of residents, occupying 31% of households. Childless couples make up 25% of the population and single parents 24%. 37% of residents in Greenwich own their homes outright, 31% are purchasers and 29% are renting. Those who are purchasing their homes would be paying more than $2,000 a month in mortgage repayments. The majority of residents in Greenwich are employed in professional occupations, earning salaries of greater than $103k per annum.
Average Prices
In 2010, the average sale price of houses in the area is $1,623,588. On average, this price tag will purchase a three to four bedroom, one to two bathroom home with a garage. In comparison, the average sale price of a two to three bedroom, one bathroom unit with car parking facilities is $578,134. Top sale prices for each category of $3,635,000 and $885,000, respectively, have been recorded in the last six months. 49 units and 47 houses were sold in Greenwich in 2010. 
The Properties
3/100 Greenwich Road is a delightful apartment built in the late nineteenth century. The two bedroom top floor apartment offers an idyllic lifestyle with its extensive lawns, landscaped gardens and great harbour views. It boasts an enormous living room, one bathroom and versatile dining room that can easily be converted into a study. It is finished with modern flooring and quality kitchen appliances. The property is only minutes walk to Greenwich wharf, Wollstonecraft railway station and local shops and restaurants.
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The Neighbourhood
Gore Creek Reserve is a popular family destination with a large sporting oval and cricket wicket. There is a grassed waterfront area perfect for picnics with BBQ facilities available. Manns Point is another local hotspot offering a grassed waterfront reserve with spectacular panoramic views of the Sydney CBD. With walking trails and picnic benches, it is a great family spot and is also the base for the Greenwich Sailing Club. There a number of sports and recreational clubs in Greenwich including the tennis and football clubs. Greenwich Public School is the only school in the area. However, it is only a ten to fifteen minute drive to a selection of well sought-after schools in North Sydney including North Sydney Boys and North Sydney Girls High Schools, Wenona School and Marist College North Shore.
Transport
Greenwich is not serviced by the City Rail network, but is close to St. Leonards and Wollstonecraft railway stations. These stations are on the North Shore and Northern Lines of the City Rail network. Services run north to Hornsby before continuing west to Burwood, Parramatta and Penrith. The Greenwich ferry wharf is well serviced by Sydney Ferries. There are a number of operating services including those to Circular Quay, Darling Harbour, Sydney Olympic Park and Birkenhead Point. Bus services run daily into the Sydney CBD and surrounding suburbs including McMahons Point, Lane Cove and St Leonards.
Restaurants, Accommodation, Amenities
Greenwich offers only a limited number of cafes and restaurants including Trattoria Cafe and Café Northside. There are also a few restaurants in the nearby area of Wollstonecraft including the very popular Ciccones Piazza and French cuisine of La Vieux Paris. However, most residents flock to the surrounding suburbs of Crows Nest and Waverton, where countless cafes and restaurants line the main streets. Greenwich Village Accommodation is an affordable option for students wishing to temporarily live in a secure and relaxing environment close to the Sydney CBD. Greenwich B&B Homestay Accommodation is a relaxing federation style lodge perfect for short stays including business trips. The Greenwich Inn Hotel is a great budget option, offering three and a half star rooms from $100 per night.
Want help?
Contact your local Mortgageport team consultant for further information on buying in Greenwich and what loan best suits your needs.
