Property investors who have had real estate in Lakemba, 2195 should be pleased with this NSW suburb’s performance compared to the rest of the country. Over the last year it has seen median house prices increase in value by 14.02%
Taking the average capital gain, or increase in median house value, Lakemba,2195 has racked up an average of 14.02% over the period. This ranks it number 59th in the whole country for real estate investors looking at median house price increases.
Our latest figures would indicate that property sellers in Lakemba are currently offering property investors an average price cut of -4.39% below the asking price at the moment.
Residents and property investors in Lakemba have been waiting around 65.89 days to sell a property.
Advertised rents are around the $530 mark per week – giving a return of 2.95% based on the median price in Suburb
Giving property investors a an unimpressive capital gain of 1.04% for the last year, Lakemba, 2195 is the 1059th highest performer in Australia in this respect.
The five-year average increase in median property values for Lakemba,2195 has given property investors a potential capital gain of 56.00% 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 -6.07% is being offered, which puts this NSW suburb at 443th most discounted overall in Australia.
Advertised rents are around the $365 mark per week – giving a return of 4.87% 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.”