NSW has seen average median house prices change by 7.47% which means that Lilyfield, 2040 has done well for property investors by showing a capital gain of 13.33% over the last year
Over the longer term, Lilyfield has seen property prices show investors a 45.50% return over the last 3 years. This is worse than over the last 12 months
LACK OF BUYER INTEREST may well be the reason that Lilyfield is offering property investors an average of -5.49. This rate of discount on properties puts Suburb at number 1192th in terms of most discounted suburbs in NSW
In the last year 99 properties changed hands in Lilyfield, which puts it as the 293th most active market in NSW when comparing the number of sales per suburb.
Lilyfield is 954th on a list of best yielding suburbs for rents in NSW with a 2.72% return
If you compare the increase in value of investment property in Lilyfield, 2040 to the rest of Australia, it performed very well. The median increase in value, or capital gain property investors experienced for this NSW suburb was 24.77%.
A 106.27% growth in median value for property investors in Lilyfield,2040 puts this suburb at number 249th in terms of best performing suburbs in NSW
Sellers are offering property buyers an average discount of -1.63% to buyers in Lilyfield at the moment, which is less than average for the rest of NSW.
Residents and property investors in Lilyfield have been waiting around 47.94 days to sell a property.
Advertised rents are around the $600 mark per week – giving a return of 3.06% based on the median price in 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