At number 69th in the list of Australian suburbs ordered by increase in median house value over the last year, Eastlakes, 2018 is in the top 10% with a property value increase of 33.47% recorded in median house prices.
Eastlakes,2018 was ranked 302 in Australia by increase in median property value over the quarter.
The NSW suburb of Eastlakes, 2018 is in the Botany Bay local government area.
If you compare the increase in value of investment property in Eastlakes, 2018 to the rest of Australia, it performed quite well. The median increase in value, or capital gain property investors experienced for this NSW suburb was 11.80%.
Over the longer term, Eastlakes has seen property prices show investors a 33.97% return over the last 3 years. This is worse than over the last 12 months
Vendor discounting in Eastlakes is giving property investors an average Vendor Discount of around -3.77%. This puts suburb at number 262th in NSW when ranking the most discounted suburbs.
On average over the past year, suburb has had 5.58 sales per month, which equates to 67 per year.
Property investors should expect to get $475 weekly from the median priced house in this suburb.
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.