Eastlakes is in the TOP 20% in NSW when comparing median price capital growth over the last year. Eastlakes gave property investors a very good capital gain figure when compared to the rest of the state, with 17.39%.
Eastlakes,2018 has offered an average of 17.39% return per annum in house price rises to property investors over the last three years.
LACK OF BUYER INTEREST may well be the reason that Eastlakes is offering property investors an average of -5.55. This rate of discount on properties puts Suburb at number 412th in terms of most discounted suburbs in NSW
A $680 per week rent on the median house gives suburb investors a gross yield of circa 2.62%, without taking into account capital value appreciation, which has been averaging out at 8.36%.
Investment property in Eastlakes has done around average for investors when compared to the country as a whole over the last 12 months, with an increase in the median house price of 1.53%
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.
Sellers are offering property buyers an average discount of -3.22% to buyers in Eastlakes at the moment, which is less than average for the rest of NSW.
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.