Giving property investors a an unimpressive capital gain of -2.95% for the last year, Lakemba, 2195 is the 3301th highest performer in Australia in this respect.
A 84.40% growth in median value for property investors in Lakemba,2195 puts this suburb at number 264th in terms of best performing suburbs in NSW
State is the 7th most discounted Australian state or territory in this month’s figures with an average Vendor Discount of -5.49% offered to property buyers. Sellers in Lakemba itself are offering an average vendor discount of -3.69% to real estate investors.
On average over the past year, suburb has had 5.58 sales per month, which equates to 67 per year.
A $500 per week rent on the median house gives suburb investors a gross yield of circa 2.82%, without taking into account capital value appreciation, which has been averaging out at 9.59%.
Property investors who have had real estate in Lakemba, 2195 should be ok with this NSW suburb’s performance compared to the rest of the country. Over the last year it has seen median house prices increase in value by 2.50%
Comparing Lakemba,2195 ‘s 5year and quarterly average capital gain offered to property investors, it performed less well across the longer period
At number 71th of NSW’s most discounted properties, Lakemba is in the bottom 20% of the state/territory when listing in order of most discounted to least.
Situated 13.40km 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
Information supplied by:
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.”