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Neutral Bay

POSTAL CODE: NSW, 2089
HOUSE
UNIT

Property investments in NEUTRAL BAY did not fare well against the rest of the country last year, registering a median home price decrease of 5.56%.

Figures from the previous quarter show that capital gains for real estate buyers in the territory are high, as opposed to average gains per annum over the past five years.

Based on its average 5-year and quarterly capital gains NEUTRAL BAY, 2089 saw average growth in the long term.

Real estate investors could earn a rental income of $890 based on current median home prices for the suburb.

It is expected, nonetheless, for properties to spend some time on the market prior to a successful sale. homes and units usually stay on listing for an average of 69 days.

Besides that, the Australian suburb also delivered a stronger performance in contrast to other Australian suburbs in terms of appreciation of property value.

Property investors perceived the median home price rise to $2,850,000.

NEUTRAL BAY ranks 1100th on the list of best yielding suburbs for rental properties in NSW, posting a 1.62% return.

Surburb overview

Neutral Bay is a harbourside suburb on the Lower North Shore and part of the North Sydney Council. Located approximately 1.5 kilometres north of the Sydney CBD, the suburb occupies approximately  128 hectares, surrounded by the suburbs of Crows Nest, Cammeray and Cremorne in the north, Mosman in the east, Cremorne Point, Kirribilli and Milsons Point in the south and North Sydney in the west.

ABOUT NEUTRAL BAY

History

Before the arrival of the First Fleet in Sydney and the subsequent European settlement, Aboriginal people used to call the modern-day Neutral Bay as “Wirra-birra”.

In 1789, shortly after the arrival of the First Fleet in Sydney, when different bays of Sydney harbour were zoned for different incoming vessels, Governor Arthur Phillip declared the particular bay a “neutral harbour” where foreign ships may anchor and take on water and supply since it’s far enough away from Sydney Cove to discourage convicts from escaping and keep possible enemy ships at a distance from the main settlement. Thus emerged the name Neutral Bay

Neutral Bay has been known as the location of the naval base Royal Australian Navy’s Submarine Service HMAS Platypus, home to the HMA Oberon submarines, between 18 August 1967 and 29 March 1999. During World War II, the site was converted to the RAN Torpedo Maintenance Establishment (RANTME).

By the 20th century, Neutral Bay, along with Cremorne, was dubbed as an “alternative society suburb” as the area becomes populated by people who were attracted to the arts and crafts architectural style that was in vogue at the time. The style was an attempt to veer away from mass production and introduce “human touch” to the homes being built in the area.

Other architectural styles that emerged across the suburb was the California bungalow style and the “shingle style”. Most of the homes built in the 1900s, such as the Brent Knowle, The Cobbles, The Gables and Ailsa, form a significant heritage group and have a state heritage listing.

In 2010, Kurraba Point, formerly a locality in Neutral Bay, was declared a separate suburb, sharing the postcode 2089.

Demographics

As of 2018, Neutral Bay is home to 11,365 people, with a population density of 88.92 persons per hectare. Apart from Australia-born citizens, which represents about 48 per cent of the local population, other residents list their countries of birth as England, New Zealand, China, South Africa and Japan. Some of the common languages spoken in the suburb apart from English are Mandarin, Japanese, Cantonese, Spanish and Japanese.

Covering 12.2 per cent of the total land area of the North Sydney Council, the suburb features both urban and green characteristics, with smaller suburban centers, residential areas, parks and open spaces.Famous residents

Neutral Bay was home to many artists, including Bertrand James Waterhouse, who designed Brent Knowle, The Gables and Ailsa, as well as English-born children’s author and painter May Gibbs, the creator of Snugglepot and Cuddlepie and the Banksia Men.

Professional sportsmen Mitchell Pearce, Jared Waerea-Hargreaves and Wayne Pearce also own homes in the suburbs of Mosman, Cremorne and Neutral Bay. 

LIFESTYLE

Neutral Bay lies on the north shore of Sydney Harbour, making it an ideal locale for professionals and mobile families. 

Like its surrounding suburbs, Neutral Bay offers diversity – with cafes and eateries along Military Road to serve commuters at the busy junction, and leafy streets lined with heritage-listed homes, lofty apartments and harbourside mansions.

Public transport

Residents of Neutral Bay either travel to work on cars or public transport, according to the 2016 census.

Among the main modes of public transportation in the suburb are ferry services, operated mainly by Inner Harbour, which dock on the Neutral Bay wharf, located at the end of Hayes Street.

Neutral Bay residents are also serviced by the Warringah Freeway, which runs along its western border and provides links south to the Sydney CBD and north to Chatswood. Similarly, Military Road acts as a major transport link for the suburb.

Schools and universities

  • Neutral Bay Public School
  • Cameragal Montessori Preschool
  • Sydney Cooking School

Hospitals

  • Neutral Bay Medical Centre
  • Wycombe Clinic
  • The Waters Road Practice Neutral Bay

Landmarks

  • The Cobbles
  • Derry, home of May Gibbs
  • Brent Knowle
  • Cremorne Synagogue (Orthodox Jewish)
  • St Augustine’s Anglican Church
  • St John’s Uniting Church
  • St Joseph’s Catholic Church
  • Ailsa
  • The Oaks Hotel

Shopping Centers

  • Neutral Bay Junction
  • Big Bear Shopping Centre

Sports and recreation

  • Neutral Bay Club
  • Anderson Park
  • Forsyth Park
  • Primrose Park



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