Narwee suburb profile
Narwee is a charming suburb located in the southern part of Sydney, approximately 18km from the CBD. Known for its peaceful residential streets and strong community spirit, Narwee offers a welcoming environment for families and professionals. The suburb features a mix of post-war homes and modern developments, providing diverse housing options. Narwee is well-served by public transport, with a train station on the T8 Airport & South Line, ensuring easy access to the city and surrounding areas. Local amenities include parks, schools, and shopping facilities, making it a convenient and pleasant place to live.
Narwee property market performance
Narwee’s property market has shown stability and growth over the past 12 months. House values have increased by 7%, bringing the median house price to approximately $1.74 million. In contrast, unit values have remained steady, with the median unit price holding at $590,000.
Sales activity has been relatively low, with 8 houses and 5 units sold over the last 12 months. However, properties are moving quickly, with houses spending a median of 24 days on the market and units just 16 days, indicating strong buyer interest.
The rental market in Narwee has seen varied changes, with house rents increasing by 1.9% and unit rents rising significantly by 7.7% over the last 12 months, suggesting a growing demand for rental units in the area.
Median price - houses$1.74MPast 3 months
Median price - units$590KPast 3 months
Change in value - houses7.0%12 months
Change in value - units-8.4%12 months
Houses sold8Past 3 months
Units sold5Past 3 months
Median DOM - houses23.5Past 12 months
Median DOM - units16Past 12 months
Average rent - houses$800Past 12 months
Average rent - units$560Past 12 months
Change in rent - houses1.9%Past 12 months
Change in rent - units7.7%Past 12 months
Narwee demographics
Narwee, a suburb located in the southern part of Sydney, offers a blend of suburban tranquility and urban convenience. With a population of 5,411, Narwee is a close-knit community that appeals to families and individuals seeking a peaceful lifestyle. The median age of 40 suggests a mature population, with many residents likely enjoying the suburb's family-friendly environment and proximity to essential amenities.
The suburb's housing landscape is diverse, with a significant portion of properties being rented, accounting for 45.4% of the total. This indicates a flexible housing market that caters to both long-term residents and those seeking temporary accommodation. Additionally, 26.6% of properties are owned outright, and 28.0% are owned with a mortgage, reflecting a stable community with a mix of established homeowners and new buyers entering the market.
Family dynamics in Narwee are varied, with couple families with children making up 47.8% of the population, highlighting the suburb's appeal to families. Couple families without children account for 32.4%, while one-parent families represent 17.9%. This diverse family composition contributes to a vibrant community atmosphere, supported by local schools, parks, and recreational facilities. Narwee's balance of suburban charm and accessibility to Sydney's city center makes it an attractive option for those seeking a harmonious lifestyle.
Narwee infrastructure, key developments and investment opportunities
Narwee is undergoing several developments that may impact its property market. The suburb is set to benefit from the new M5 motorway extension, expected to open in 2020, which will significantly reduce travel times to Sydney CBD and the inner west. This improved connectivity could boost property demand and values in the area.
Additionally, Narwee train station is undergoing upgrades to improve accessibility, with lift access for disabled passengers and prams currently under construction. The local shopping precinct has seen the arrival of new cafes and restaurants, enhancing the area's amenities. These developments, combined with Narwee's family-friendly atmosphere and proximity to multiple shopping centers, are likely to maintain the suburb's appeal to homebuyers and investors.
Narwee rental market trends
The rental market in Narwee has experienced moderate growth, with house rents increasing by 1.9% over the past year to $800 per week, while unit rents have seen a more significant rise of 7.7% to $560 per week. This suburb offers a balanced rental market, appealing to both investors and tenants seeking affordability and convenience in a well-connected area.
Suburbs near Narwee
Some popular suburbs near Narwee include: