Lilyfield has had a A very good year for property investment returns compared to the rest of NSW, giving investors a capital gain of 20.50% to date .
The five-year average increase in median property values for Lilyfield,2040 has given property investors a potential capital gain of 78.11% across each of those five years.
Property investors looking for a bargain in Lilyfield should be aiming for at least -2.86% off the asking price, which is the average vendor discount being achieved at the moment.
Situated 4.14km from the CBD, Lilyfield is one of Leichhardt localities in the postcode 2040.
Over the last year, property investments in Lilyfield, 2040 have given investors a capital gain of -28.99%. This compares very badly with the 8.63% for NSW as a whole.
While Lilyfield,2040 ranked number 553th in NSW for increase in median house value (annualised) increase, it is ranked 393th over the last 5 years.
The most recent median price for Lilyfield is $671000, with sellers offering an average of -2.61% off the asking price.
Often selling an investment property can take time, and in Lilyfield the average time real estate has been on the market is 79.12 days.
Property investors should expect to get $600 weekly from the median priced house in this suburb.
Originally a suburb for the working class, Lilyfield is now mainly targeted towards the middle class, with many investors choosing to redevelop the old workers’ cottages. As a result, the median house price has soared to over $1.5m.Full summary
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Working-class suburb enjoys upgrade
Median house price: $1,567,500
Three-year growth: 60.60%
Rental yield: 2.49%
A stone’s throw west of the Sydney CBD, Lilyfield has seen its stock rise due to gentrification and renovation.
Originally a suburb for the working class, Lilyfield is now mainly targeted towards the middle class, with many investors choosing to redevelop the old workers’ cottages. Thus, the median house price has soared to over $1.5m. In the past 12 months alone, there was nearly 12% growth, with vendors unloading homes while offering a very low average discount of just 2.2%
Rental yield isn’t very high here given the high prices and stiff competition. Nonetheless, the income will surely be steady as the average vacancy rate indicates that the majority of properties are occupied.
Lilyfield is highly accessible by tram and several bus routes. The City West Link Road is linked to the A4, and various bicycle routes can lead to Parramatta.Close