Investment property in Eastlakes has done well for investors when compared to the country as a whole over the last 12 months, with an increase in the median house price of 26.67%
Eastlakes,2018 has offered an average of 26.67% return per annum in house price rises to property investors over the last three years.
With the median price for a house in Eastlakes being $1520000 and the advertised rent reaching $690 the gross rental yield for property investors calculates out to be 2.36%
Eastlakes is an average performer in NSW when comparing median price capital growth over the last year. Eastlakes gave property investors a average capital gain figure when compared to the rest of the state, with 7.13%.
Eastlakes,2018 was ranked 323 in Australia by increase in median property value over the quarter.
Sellers are offering property buyers an average discount of -3.99% to buyers in Eastlakes at the moment, which is less than average for the rest of NSW.
The NSW suburb of Eastlakes, 2018 is in the Botany Bay local government area.
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.