Investment property in Lakemba has done poorly for investors when compared to the country as a whole over the last 12 months, with an increase in the median house price of -5.74%
The five-year average increase in median property values for Lakemba,2195 has given property investors a potential capital gain of 79.10% across each of those five years.
When looking to buy, or assessing what properties are really achieving at sale, it's essential for property investors to take into account what discounts are being offered in Lakemba, 2195. Typically our figures indicate that -4.90% is being offered, which puts this NSW suburb at 2657th most discounted overall in Australia.
The NSW suburb of Lakemba, 2195 is in the Canterbury local government area.
Giving property investors a an average capital gain of 2.53% for the last year, Lakemba, 2195 is the 870th highest performer in Australia in this respect.
Across a shorter period, Lakemba, 2195 has seen a median price increase of 2.53% over the last quarter.
Lakemba2195 is located in NSW which offers an average discount of -4.42% to property investors. Lakemba itself is showing figures that indicate -6.22% is the average achievable by property buyers investing in the suburb.
Advertised rents are around the $370 mark per week – giving a return of 4.75% based on the median price in Suburb
Lakemba is well known for its vibrant multicultural mix, being a popular destination for overseas migrants. There’s also a wide range of shopping amenities along Haldon Street and residents enjoy a large selection of restaurants in the area
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Lakemba is well known for its vibrant multicultural mix, being a popular destination for overseas migrants – particularly those from Lebanon. The suburb’s desirability is hardly surprising given its proximity to the Sydney CBD: it's only 30 minutes away via train or bus. There’s also a wide range of shopping amenities along Haldon Street and residents enjoy a large selection of restaurants in the area.
But the most attractive feature for the suburb is affordability. The median unit price is about half the figure for Sydney. For those looking to get into the property market, this is indeed an appealing option. For property investors, this also means the potential for cash flow neutral or even positive investment.
“Lakemba used to be seen as a high crime area, and the train station has been covered with graffiti, but it's gradually changing its character,” says www.propertybuyer.com.au CEO Rich Harvey. “It’s located toward the outer ring, but it offers attractive price points for property buyers.”