Naremburn is a tranquil suburb located downstream on Sydney's North Shore, with over 6,000 residents living in 2,800 properties. Despite the absence of schools, the recent real estate market in this area has been making headlines, highlighting its potential investment value and attractiveness.
In the past two months, the residential real estate market in Naremburn has been buzzing, starting with a four-bedroom residence on a 748-square-meter plot, which set a new sales record for the suburb with a staggering $54.51 million USD transaction price. Then, earlier this month, another large property on a 900-square-meter plot was successfully acquired by a local family for $5.625 million USD. These two transactions fully demonstrate the fervor and investment value of Naremburn's real estate market.
realestate.com
Property prices in this small suburb are influenced by several factors, including the size of the blocks. Some villas have relatively small plots, making it difficult to achieve high-value sales on these properties. However, the serene environment and convenient proximity to the city continue to attract the attention of many homebuyers. Additionally, some properties boast unique features, such as standalone apartments and large wine cellars, further enhancing their appeal.
According to data from PropTrack, Naremburn has only seen 7 properties sold for over $5 million USD, with the median house price rising by 8.2% over the past 12 months. This demonstrates the vibrancy and investment potential of the local real estate market.
realestate.com
It's worth noting that one property in the area has a significant historical background. The owner of this property, Gabrielle Rashleigh, undertook renovations and expansions over 20 years ago, including carving out a wine cellar capable of housing 1,000 bottles beneath the house.
Gabrielle is one of the co-founders of Young & Rashleigh Wine Merchants, a company that provides high-quality wines to the hospitality industry in New South Wales and has grown to become one of the largest wine wholesalers in the state. Such historical background and unique selling points make this property even more attractive, drawing in more buyers.
