At number 525th in the list of Australian suburbs ordered by increase in median house value over the last year, Lane Cove North, 2066 is in the top 20% with a property value increase of 18.13% recorded in median house prices.
Lane Cove North,2066 was ranked 492 in Australia by increase in median property value over the quarter.
State is the 7th most discounted Australian state or territory in this month’s figures with an average Vendor Discount of -5.23% offered to property buyers. Sellers in Lane Cove North itself are offering an average vendor discount of -4.21% to real estate investors.
With the median price for a house in Lane Cove North being $2150000 and the advertised rent reaching $895 the gross rental yield for property investors calculates out to be 2.16%
Property value increases in Lane Cove North have tracked just higher than the NSW average of 8.01% over the last 12 months.
While Lane Cove North,2066 ranked number 171th in NSW for increase in median house value (annualised) increase, it is ranked 251th over the last 5 years.
Property investors looking for a bargain in Lane Cove North should be aiming for at least -9.42% off the asking price, which is the average vendor discount being achieved at the moment.
A $520 per week rent on the median house gives suburb investors a gross yield of circa 3.44%, without taking into account capital value appreciation, which has been averaging out at 7.85%.
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
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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.