With a capital gain of -2.74% for the last 12 months, Lakemba, 2195 has performed for property investments than its average annual 10.07% property growth over the last 5 years.
Over the longer term, Lakemba has seen property prices show investors a 44.94% return over the last 3 years. This is worse than over the last 12 months
Property investors looking for a bargain in Lakemba should be aiming for at least -4.02% off the asking price, which is the average vendor discount being achieved at the moment.
Over the last year, property investments in Lakemba, 2195 have given investors a capital gain of 5.00%. This compares averagely with the 6.22% for NSW as a whole.
When looking at the potential capital gains offered to property investors over the last 3 years, Lakemba comes in at number 291th in NSW.
State is the 7th most discounted Australian state or territory in this month’s figures with an average Vendor Discount of -4.26% offered to property buyers. Sellers in Lakemba itself are offering an average vendor discount of -5.80% to real estate investors.
On average over the past year, suburb has had 15.67 sales per month, which equates to 188 per year.
Lakemba, 2195’s gross rental yield is 4.58%
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.”