Eastlakes has had a A very good year for property investment returns compared to the rest of NSW, giving investors a capital gain of 26.27% to date .
Data for the last quarter indicates that, in the short term at least, the capital value growth rate for property investors in Eastlakes has increased when compared to the 5 year average annual rate.
The most recent median price for Eastlakes is $1490000, with sellers offering an average of -4.71% off the asking price.
In the last year 21 properties changed hands in Eastlakes, which puts it as the 1114th most active market in NSW when comparing the number of sales per suburb.
Advertised rents are around the $690 mark per week – giving a return of 2.41% based on the median price in Suburb
At number 572th in the list of Australian suburbs ordered by increase in median house value over the last year, Eastlakes, 2018 is in the top 40% with a property value increase of 6.88% recorded in median house prices.
The five-year average increase in median property values for Eastlakes,2018 has given property investors a potential capital gain of 55.45% across each of those five years.
Eastlakes, 2018 is offering NSW ‘s 179th most discounted properties when looking at the average discount being offered by vendors. This puts it in the TOP 40% of discounts offered by this NSW.
Renters in Suburb are facing rents around $5520 per annum or $460 every week.
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.