At number 3754th in the list of Australian suburbs ordered by increase in median house value over the last year, Lakemba, 2195 is in the BOTTOM 20% with a property value increase of -7.97% recorded in median house prices.
Over the longer term, Lakemba has seen property prices show investors a 45.74% 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 -2.57% off the asking price, which is the average vendor discount being achieved at the moment.
Using the current median advertised rental of $510 and the average annual increase in value of a median property of 9.66%, investors should hope to achieve an overall return of 2.93%
Lakemba has had a pretty average year for property investment returns compared to the rest of NSW, giving investors a capital gain of 4.03% to date .
Over the longer term, Lakemba has seen property prices show investors a 30.94% return over the last 3 years. This is worse than over the last 12 months
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 -5.87% is being offered, which puts this NSW suburb at 514th most discounted overall in Australia.
At number 349 in a list of fastest selling suburbs, Lakemba is in the TOP 30% of suburbs in Australia with an average of days on market 56.38 for properties listed there.
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.”