Giving property investors a a solid capital gain of 20.96% for the last year, Centennial Park, 2021 is the 143th highest performer in Australia in this respect.
Centennial Park,2021 was ranked 505 in Australia by increase in median property value over the quarter.
Property investors looking for a bargain in Centennial Park should be aiming for at least -0.81% off the asking price, which is the average vendor discount being achieved at the moment.
A $550 per week rent on the median house gives suburb investors a gross yield of circa 3.48%, without taking into account capital value appreciation, which has been averaging out at 9.66%.
Likely due to its nearness to the CBD, apartments in Centennial Park do not come cheap, with a median of over $750,000. They remain in high demand, with sellers providing an average discount of less than 2%.Full summary
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Parkland suburb offers a lush lifestyle
Median unit price: $760,000
Three-year growth: 43.80%
Rental yield: 3.76%
Just a few kilometres from the Sydney CBD is the suburb of Centennial Park, a popular destination with locals and visitors alike due to its parkland and vast open space.
Likely due to its nearness to the CBD, apartments in Centennial Park do not come cheap, with a median of over $750,000. They remain in high demand, with sellers providing an average discount of less than 2%. Many of these apartments were developed in the 1960s and 1980s.
Growth has been sustained over the past five years, with the average annual growth rate clocking in at 8%. Furthermore, the average vacancy rate fell by almost 1% over the past year.
Though there are few actual properties in the suburb, there are various recreational facilities in Centennial Park that allow local and surrounding residents to take advantage of its environment, including a sporting oval and Fairland Pavilion. There are also many heritage-listed architectures.Close