If you compare the increase in value of investment property in Lakemba, 2195 to the rest of Australia, it performed somewhat poorly. The median increase in value, or capital gain property investors experienced for this NSW suburb was 3.68%.
The five-year average increase in median property values for Lakemba,2195 has given property investors a potential capital gain of 89.70% across each of those five years.
Lakemba, 2195 is offering NSW ‘s 738th most discounted properties when looking at the average discount being offered by vendors. This puts it in the bottom 40% of discounts offered by this NSW.
Using the current median advertised rental of $490 and the average annual increase in value of a median property of 10.02%, investors should hope to achieve an overall return of 2.66%
Over the last year, property investments in Lakemba, 2195 have given investors a capital gain of 9.87%. This compares averagely with the 8.63% for NSW as a whole.
A 63.16% growth in median value for property investors in Lakemba,2195 puts this suburb at number 160th in terms of best performing suburbs in NSW
The most recent median price for Lakemba is $434000, with sellers offering an average of -6.00% off the asking price.
The NSW suburb of Lakemba, 2195 is in the Canterbury local government area.
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.”