At number 2250th in the list of Australian suburbs ordered by increase in median house value over the last year, Lakemba, 2195 is in the BOTTOM 50% with a property value increase of 5.22% recorded in median house prices.
While Lakemba,2195 ranked number 421th in NSW for increase in median house value (annualised) increase, it is ranked 145th over the last 5 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 -4.18% is being offered, which puts this NSW suburb at 2909th most discounted overall in Australia.
Renters in Suburb are facing rents around $5940 per annum or $495 every week.
Giving property investors a a stable capital gain of 7.59% for the last year, Lakemba, 2195 is the 587th highest performer in Australia in this respect.
When looking at the potential capital gains offered to property investors over the last 3 years, Lakemba comes in at number 297th in NSW.
State is the 7th most discounted Australian state or territory in this month’s figures with an average Vendor Discount of -4.16% offered to property buyers. Sellers in Lakemba itself are offering an average vendor discount of -5.61% to real estate investors.
Situated 12.74km from the CBD, Lakemba is one of Canterbury localities in the postcode 2195.
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.”