Investment property in Eastlakes has done not badly for investors when compared to the country as a whole over the last 12 months, with an increase in the median house price of 9.13%
Across a shorter period, Eastlakes, 2018 has seen a median price increase of 5.46% over the last quarter.
Property buyers and investors in Eastlakes 2018 should be seeing an average reduction in asking price of around -6.72% . This means that Eastlakes is holding prices well when compared to other suburbs in NSW.
Situated 6.83km from the CBD, Eastlakes is one of Botany Bay localities in the postcode 2018.
If you compare the increase in value of investment property in Eastlakes, 2018 to the rest of Australia, it performed around average. The median increase in value, or capital gain property investors experienced for this NSW suburb was 3.40%.
Over the longer term, Eastlakes has seen property prices show investors a 40.00% return over the last 3 years. This is worse than over the last 12 months
State is the 7th most discounted Australian state or territory in this month’s figures with an average Vendor Discount of -4.45% offered to property buyers. Sellers in Eastlakes itself are offering an average vendor discount of -3.34% to real estate investors.
Often selling an investment property can take time, and in Eastlakes the average time real estate has been on the market is 41.69 days.
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.