Over the last year, property investments in Lakemba, 2195 have given investors a capital gain of 1.12%. This compares badly with the 7.15% for NSW as a whole.
Across a shorter period, Lakemba, 2195 has seen a median price increase of -2.17% over the last quarter.
LACK OF BUYER INTEREST may well be the reason that Lakemba is offering property investors an average of -5.53. This rate of discount on properties puts Suburb at number 768th in terms of most discounted suburbs in NSW
Residents and property investors in Lakemba have been waiting around 71.77 days to sell a property.
With the median price for a house in Lakemba being $900000 and the advertised rent reaching $520 the gross rental yield for property investors calculates out to be 3.00%
If you compare the increase in value of investment property in Lakemba, 2195 to the rest of Australia, it performed around average. The median increase in value, or capital gain property investors experienced for this NSW suburb was 1.80%.
Comparing Lakemba,2195 ‘s 5year and quarterly average capital gain offered to property investors, it performed less well across the longer period
Sellers are offering property buyers an average discount of -5.99% to buyers in Lakemba at the moment, which is less than average for the rest of NSW.
A $365 per week rent on the median house gives suburb investors a gross yield of circa 4.81%, without taking into account capital value appreciation, which has been averaging out at 8.10%.
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.”