Lane Cove North has had a pretty average year for property investment returns compared to the rest of NSW, giving investors a capital gain of 6.18% to date .
Taking the average capital gain, or increase in median house value, Lane Cove North,2066 has racked up an average of 6.18% over the period. This ranks it number 472th in the whole country for real estate investors looking at median house price increases.
The most recent median price for Lane Cove North is $1820000, with sellers offering an average of -6.21% off the asking price.
Renters in Suburb are facing rents around $9960 per annum or $830 every week.
Property value increases in Lane Cove North have tracked close to the NSW average of 5.59% over the last 12 months.
Comparing Lane Cove North,2066 ‘s 5year and quarterly average capital gain offered to property investors, it performed less well across the longer period
LACK OF BUYER INTEREST may well be the reason that Lane Cove North is offering property investors an average of -4.45. This rate of discount on properties puts Suburb at number 30th in terms of most discounted suburbs in NSW
At number 250 in a list of fastest selling suburbs, Lane Cove North is in the TOP 20% of suburbs in Australia with an average of days on market 51.75 for properties listed there.
Using the current median advertised rental of $520 and the average annual increase in value of a median property of 6.97%, investors should hope to achieve an overall return of 3.70%
Lane Cove North is well placed for a wide range of Sydney workplace locations and is well served for amenities – in addition to showing strong capital growth, affordable prices and solid rental yields. Full summary
Information supplied by:
Lane Cove North is situated 7km northwest of the Sydney CBD. It is separated from Lane Cove proper by Epping Road, but is within easy reach of the Longueville Road cafe and shopping hub.
Lane Cove North is well-located for a wide range of workplace locations, with direct bus access to the Sydney CBD, North Sydney and the North Ryde business park (and an off-road cycle track linking these locations); train access to these locations is also possible from neighbouring Artarmon and Chatswood.
It’s well-served amenity-wise: while the suburb itself has few amenities, Longueville Road is just a short walk, and Chatswood’s large Westfield shopping centre is only a short journey away. The Lane Cove National Park is also situated directly north of the suburb and there are several parks to the east of the suburb.
It’s significantly more affordable than its neighbours: Lane Cove’s median is nearly S40,000 more expensive, and Chatswood’s is more than $100,000 higher. Rental yields also tend to be higher in Lane Cove North than its more expensive counterparts.
Many of the unit developments in Lane Cove North are from the 1970s and 1980s, which means there may be cosmetic reno opportunities in this sector of the market. Most unit developments are located in the east of the suburb, close to the Pacific Highway and Epping Road: the south ends of Murray Street, Stoke Street and Helen Street are quieter, while still providing easy access to amenities and transport.