Should I buy in Neutral Bay?
Suburb Report – Neutral Bay, NSW, 2089
Location
Neutral Bay is one of the most sought-after suburbs in Sydney. It is an exclusive harbourside district on the Lower North Shore of Sydney and is only five kilometres north of the CBD. Neutral Bay is in the local government area of the Municipality of North Sydney and is bordered by the affluent suburbs of Cammeray, North Sydney and Cremorne.
Household Occupancy
The predominant age group in Neutral Bay falls between 30-39 years. In relation to demographics, single parents make up the largest group of residents, occupying 37% of households. Childless couples make up 28% of the population, lone households 16% and couples with children a low 12%. Neutral Bay has one of the largest proportions of renters on the Lower North Shore. 53% of residents are renting their homes, 24% own their homes outright and 21% are purchasers. Those who are purchasing their homes would be paying more than $2,000 a month in mortgage repayments. The majority of residents in Neutral Bay 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 $1,518,401. 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 $725,927. Top sale prices of $3,100,000 have been recorded for both houses and units in the last six months. 422 units and 63 houses were sold in Neutral Bay in 2009.
The Properties
3 Baden Road offers close to the best views of any Sydney harbourside residence and is a great investment opportunity or home for the smaller family unit. With spectacular sights of Sydney’s CBD, Harbour Bridge and Eastern Suburbs from almost every angle of the house, this three bedroom, four bathroom home will take your breath away. The beautiful harbourside lawns make it a great place for entertaining where the fully equipped bar can be put to good use. The modern and luxurious home also includes an extensive open plan living area, private study area, internal lift and library and a lock up garage and car space.
If you would like a recent sales history report free of charge, please contact us.
The Neighbourhood
Anderson Park is the most popular recreation area in Neutral Bay. Bordered by Kurraba Road and Clark Road, it boasts beautiful harbour views and is a great escape from the chaos of the commercial district. The park also features a sports oval which can be used for cricket, soccer or football. It is one of three home grounds for the Norths Pirates Junior Rugby Union Club. Neutral Bay Junction along Military Road is the main shopping district of Neutral Bay. It features a vast range of fashion, beauty, electrical, automotive and health stores. For supermarket and grocery needs, locals flock to the Big Bear Shopping Mall, also situated on Military Road. Anchored by Coles, the centre offers thirteen specialty convenience retailers. There are two schools in Neutral Bay, Cameragal Montessori and Neutral Bay Public School.
Transport
Neutral Bay is only a short drive from Sydney’s CBD, over the iconic Sydney Harbour Bridge. The Warringah Freeway runs to the west of Neutral Bay and is a vital link to the CBD to the south and Chatswood to the north. Buses operate frequently to and from the CBD via Wynyard Station. Both private and public ferries operate from Neutral Bay Wharf, located at the end of Hayes Street.
Restaurants, Accommodation, Amenities
Neutral Bay Junction on Military Road is filled with a vast array busy cafes and restaurants of Thai, Indian, Italian, Japanese and Modern cuisine. The Oaks Hotel is a very popular local venue on the corner of Military Road and Ben Boyd Road that houses a number of restaurants, bars and function rooms. It also features a much-frequented beer garden, which is a local hotspot in the warm summer months. The Neutral Bay Motor Lodge on the corner of Kurraba and Hayes Roads is a very popular and affordable family holiday destination that gets booked out quickly in the summer break. There is also a great variety of holiday apartments to rent with easy accessibility to shops and transport and magnificent harbour views.
Want help?
Contact your local Mortgageport team consultant for further information on buying in Neutral Bay and what loan best suits your needs.
