Property investors who have had real estate in Longueville, 2066 should be relatively pleased with this NSW suburb’s performance compared to the rest of the country. Over the last year it has seen median house prices increase in value by 2.11%
Over the longer term, Longueville has seen property prices show investors a 21.35% return over the last 3 years. This is worse than over the last 12 months
On average over the past year, suburb has had 1.83 sales per month, which equates to 22 per year.
With the median price for a house in Longueville being $3944000 and the advertised rent reaching $1325 the gross rental yield for property investors calculates out to be 1.75%
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Waterfront suburb Longueville sits some 10km from Sydney’s CBD and boasts a mix of architectural marvels old and new. The area’s is known for its secluded feel, nestled on the Lane Cove River between Tambourine Bay and Woodford Bay with wide streets and striking city and harbour views.
Residents also enjoy easy access to Sydney’s CBD via both bus and ferry services, or they can take a stroll to the many fine shops and restaurants at Lane Cove Village.
“It’s such a great family environment, and since you’ve only got 700 homes on the peninsula so the moment something comes up it’s usually sold within four to six weeks,” says Sandra Peach of Ray White Lane Cove.
Peach knows the area well and has watched it grow progressively younger over the past twenty years. “It used to be an old established suburb with old people,” she says. “But now there has been a major generational shift within that suburb and that is why there have been a lot of properties sold or rebuilt because you get a younger family environment.”
Peach says the low number of sales in the area is in part due to the fact that families really just do not want to leave.