With a capital gain of 26.05% for the last 12 months, Eastlakes, 2018 has performed for property investments than its average annual 9.61% property growth over the last 5 years.
Eastlakes,2018 has offered an average of 26.05% return per annum in house price rises to property investors over the last three years.
Using the current median advertised rental of $695 and the average annual increase in value of a median property of 9.61%, investors should hope to achieve an overall return of 2.41%
Eastlakes is an average performer in NSW when comparing median price capital growth over the last year. Eastlakes gave property investors a good capital gain figure when compared to the rest of the state, with 8.51%.
Across a shorter period, Eastlakes, 2018 has seen a median price increase of 5.55% over the last quarter.
Our latest figures would indicate that property sellers in Eastlakes are currently offering property investors an average price cut of -4.16% below the asking price at the moment.
Often selling an investment property can take time, and in Eastlakes the average time real estate has been on the market is 70.47 days.
Situated 6.43km from the CBD, Eastlakes is one of Botany Bay localities in the postcode 2018.
Southern Sydney suburb Eastlakes scores well as a good all-round investment prospect. Units are affordable for Sydney, and it compares very favourably to neighbours Mascot and Rosebery.
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Southern Sydney suburb Eastlakes scores well as a good all-round investment prospect. Units are affordable for Sydney and it compares very favourably to neighbours Mascot and Rosebery.
The CBD is easily accessible via a 6km drive up Southern Cross Drive or a quick train journey along the airport line, and the airport itself is only one or two stops away. Amenity-wise, the suburb is home to the Eastlakes Shopping Centre and two golf courses.
Rental potential is excellent, with decent yields and low monthly vacancy rates. The price differential between Eastlakes and its closest neighbours also suggests there’s scope for more capital growth. There’s also scope to add value: two-thirds of properties in the suburb are units and are mainly low-rise brick complexes constructed over 20 years ago – providing plenty of renovation opportunities.
Nick Kastellorios, sales manager at local agent MGM Properties recommends Longworth Avenue and Evans Avenue, which border Eastlakes Reserve, as the choice streets.