NSW has seen average median house prices change by 6.38% which means that Lakemba, 2195 has done well for property investors by showing a capital gain of -5.27% over the last year
The five-year average increase in median property values for Lakemba,2195 has given property investors a potential capital gain of 75.47% across each of those five years.
Lakemba, 2195 is offering NSW ‘s 918th most discounted properties when looking at the average discount being offered by vendors. This puts it in the bottom 30% of discounts offered by this NSW.
Renters in Suburb are facing rents around $6000 per annum or $500 every week.
Property investors who have had real estate in Lakemba, 2195 should be ok 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 1.79%
When looking at the potential capital gains offered to property investors over the last 3 years, Lakemba comes in at number 265th in NSW.
LACK OF BUYER INTEREST may well be the reason that Lakemba is offering property investors an average of -4.45. This rate of discount on properties puts Suburb at number 59th in terms of most discounted suburbs in NSW
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.”