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 20.00%
When looking at the potential capital gains offered to property investors over the last 3 years, Eastlakes comes in at number 113th in NSW.
Eastlakes2018 is located in NSW which offers an average discount of -5.53% to property investors. Eastlakes itself is showing figures that indicate -6.05% is the average achievable by property buyers investing in the suburb.
On average over the past year, suburb has had 2.33 sales per month, which equates to 28 per year.
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 8.11%.
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 1.79%.
Taking the average capital gain, or increase in median house value, Eastlakes,2018 has racked up an average of 1.79% over the period. This ranks it number 220th in the whole country for real estate investors looking at median house price increases.
Vendor discounting in Eastlakes is giving property investors an average Vendor Discount of around -3.27%. This puts suburb at number 372th in NSW when ranking the most discounted suburbs.
At number 90 in a list of fastest selling suburbs, Eastlakes is in the TOP 10% of suburbs in Australia with an average of days on market 39.6 for properties listed there.
Eastlakes is 303th on a list of best yielding suburbs for rents in NSW with a 4.11% return
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.