Narre Warren North (VIC 3804) in Focus 2026: Is It a Good Investment? R-Score 96/100, 2% Yield & Best Streets

Market Classification: Affluent Owner-Occupier Upgrader Market · R-Score: 96/100 (National Rank #648 of 15,286) · Street Average: 73/100 across 158 streets.

Narre Warren North is an established, high-income owner-occupier market where land scarcity and school/amenity appeal drive long-term capital values ($1,730,000 median). Because gross rental yields sit at 2%, this is not a cashflow play—it is a scarcity and land-banking market suited to high-income investors or rentvestors who prioritise street-level prestige and long-term compounding over immediate net yield.

“I would not let the 1.1% vacancy rate distract from the 2% gross yield. In Narre Warren North, the buyer’s real task is selecting a street with durable owner-occupier appeal, then being honest about the holding cost attached to a $1.73 million house.”

Looking for the live, monthly-updated numbers? The Narre Warren North (VIC) suburb profile tracks the current median house price, rent, vacancy and R-Score, and the Narre Warren North street-by-street scores rank every street. This article is our investment analysis of what those numbers mean.

Below is our full October 2026 quantitative and street-level breakdown for Narre Warren North (VIC 3804), combining 36 months of settled price and rental history from our Aurora research warehouse, council-level supply and employment data for Casey (VIC), and block-by-block ABS 2021 Census SA1 tenure and yield rankings across 3,542 residential addresses.

1. Narre Warren North (VIC) 3-Year Market Trajectory & 27-Indicator R-Score (October 2026)

Over the past 12 months, Narre Warren North’s median house price moved +10.9% (from $1,560,000 to $1,730,000), bringing its 3-year cumulative price movement to +11.4% (from $1,553,000 three years ago). On the rental side, median weekly asking rents moved -27.8% over the past year to $650/wk (-5.3% over 36 months), equating to a 2% gross rental yield. Compared with 12 months ago—when Narre Warren North carried an R-Score of 98/100—its current composite R-Score of 96/100 represents a -2-point shift in underlying market pressure.

Indicator / R-Score Pillar	Narre Warren North (VIC) Current	12-Month / 36-Month Context
Composite Suburb R-Score	96 / 100	Ranked #648 of 15,286 suburbs (was 98/100 12m ago)
Median House Price	$1,730,000	12m change: +10.9% · 36m change: +11.4%
Median Weekly Rent & Gross Yield	$650/wk (2%)	12m rent change: -27.8% · 36m rent change: -5.3%
Rental Vacancy & Days on Market	1.1% vacancy	Median selling time: 29 days on market (1.5% vacancy is the tight-market line)
Pillar 1: Buyer Demand	38 / 100	Measures days-on-market compression, vendor discounting & sales velocity
Pillar 2: Supply & Ownership	50 / 100	Measures stock on market, building approvals vs stock & owner-occupier share
Pillar 3: Price Momentum	73 / 100	Measures short/medium-term price velocity vs Casey & VIC
Pillar 4: Yield Pressure	56 / 100	Measures gross rental yield, rent trajectory & vacancy compression

2. The “Two-Speed Suburb” Test: Best & Worst Streets in Narre Warren North (VIC)

Why do two 4-bedroom houses in Narre Warren North achieve completely different bank valuations and tenant quality? Because suburb medians blend every pocket together. When we map all 3,542 addresses across 158 streets in Narre Warren North through G-NAF to their ABS 2021 Census SA1 blocks, the suburb splits into three distinct tiers:

• Strong Street Profile (Score 75–100): 64 streets (49% of scored streets) pass both ABS Census tenure tests (owner-occupiers >65% and public housing ≤5%) plus at least one—or both—of the Narre Warren North rent and yield benchmarks.
• Mid / Mixed Street Profile (Score 50–74): 66 streets pass the core owner-occupier and public-housing thresholds but sit below the suburb median on weekly rent or yield.
• Weaker / Caution Street Profile (Score 0–25): 0 streets fail one or both census tenure thresholds—meaning either owner-occupation sits at or below 65% or state/community public housing exceeds 5% on those specific SA1 blocks.

Top 5 Highest-Scoring Streets in Narre Warren North (VIC)

These streets sit in SA1 census blocks with high homeowner pride of ownership, minimal social housing concentration, and strong block-level rents (inspect all 158 streets in Narre Warren North):

Top Street in Narre Warren North	Street Score	Addresses	Owner-Occupiers	Public Housing	SA1 Rent & Yield
#1 Cleveland Close	100/100	30	102%	0%	$890/wk (2.5%)
#2 Cantwell Road	100/100	28	102%	0%	$890/wk (2.5%)
#3 Tara Park Close	100/100	26	102%	0%	$890/wk (2.5%)
#4 Arnott Place	100/100	17	102%	0%	$890/wk (2.5%)
#5 Douglas Court	100/100	10	102%	0%	$890/wk (2.5%)

Streets Where Block-Level Tenure Trails the Narre Warren North Average

By contrast, the streets below run through SA1 census blocks that fail one or more of our tenure or rental tests. A lower Street Score is not a judgement of any individual house, but it highlights where higher renter turnover or public housing concentration exists within Narre Warren North:

Caution Street Sample	Street Score	Addresses	Owner-Occupiers	Public Housing	SA1 Median Rent
Fontaine Terrace	50/100	64	98%	0%	—
Harries Court	50/100	50	95%	0%	—
Branca Court	50/100	45	96%	0%	—

3. Economic & Supply Drivers in Casey Council (Victoria)

Narre Warren North sits within the Casey Local Government Area, which has a residential population of approximately 414,929 (+9.6% population movement over the past 3 years) and 102,049 total dwellings. Three council-level fundamentals shape Narre Warren North’s medium-term outlook:

• Local Employment Diversity (ABS Census): The largest employment sectors across Casey are Retail Trade (16%), Health Care and Social Assistance (13%), Education and Training (12%), Construction (10%). Multi-sector employment reduces reliance on any single employer or commodity cycle.
• New Building Approvals vs. Existing Stock: Over the latest 12-month financial year, Casey approved 3% new dwelling stock (~3,515.023 dwellings). Because new approvals exceed 1.8% of stock, investors in Narre Warren North must avoid generic greenfield house-and-land pockets and stick to established, built-out streets.
• Tracked Infrastructure Pipeline: Casey currently has $13.7 billion in tracked major infrastructure projects (placing it in the 92th percentile of Australian councils).

4. Worked Cashflow, Deposit & 80% LVR Stress-Test for Narre Warren North (October 2026)

What does it actually cost to acquire and hold a typical house in Narre Warren North at today’s median price of $1,730,000 and median rent of $650/wk? Below is the baseline 80% Loan-to-Value Ratio (LVR) model we use to stress-test serviceability before shortlisting a property:

Cashflow & Capital Item	Narre Warren North Worked Figure	Assumptions & Notes
Purchase Price (Suburb Median)	$1,730,000	Settled house median as of October 2026
20% Deposit + Est. Stamp Duty & Costs	$429,040	$346,000 deposit (80% LVR) + ~$83,040 stamp duty, legal & inspection allowance (can be funded via usable home equity)
80% LVR Loan Amount	$1,384,000	Standard no-LMI investor loan threshold
Gross Annual Rental Income	$33,800/yr ($650/wk)	2% gross rental yield before vacancies and expenses
Est. Annual Interest + Operating Costs	$105,530/yr	Assumes 6.25% interest-only ($86,500/yr) + ~1.1% for council rates, insurance & property management ($19,030/yr)
Pre-Tax Weekly Cashflow Position	-$1379/wk top-up	Before tax deductions / depreciation (confirm post-tax position with your accountant)

5. Who Should Buy in Narre Warren North—And 3 Rules Before You Make an Offer

High Land Scarcity and Deep Homeowner Wealth, But Cashflow-Intensive. Based on our October 2026 data, Narre Warren North is best suited to higher-income professionals, medical practitioners, and upgraders with strong cashflow buffers targeting scarce land in an owner-occupier dominated suburb.

1. Never Buy Blind on the Suburb Median: In Narre Warren North, 0 streets score below 50/100 on our census tenure and yield tests. Always run the exact street through the Narre Warren North Street Score Hub and target the 64 streets scoring 75–100/100.
2. Check Lot-Level Overlays (Flood, Bushfire, Slope & Easements): Even on a 100/100 streetlike Cleveland Close, individual lots can carry overland flow paths, steep gradients, or sewer easements that restrict granny-flat additions or spike insurance premiums.
3. Price Against Street-Matched Settled Comparables: Do not let a selling agent justify an asking price on a 25/100 street using comparable sales from a 100/100 street. Compare settled sales within the same SA1 Street Score band.