Carlton is in the bottom 20% in NSW when comparing median price capital growth over the last year. Carlton gave property investors a dismal capital gain figure when compared to the rest of the state, with -3.38%.
Over the longer term, Carlton has seen property prices show investors a 53.50% return over the last 3 years. This is worse than over the last 12 months
LACK OF BUYER INTEREST may well be the reason that Carlton is offering property investors an average of -5.49. This rate of discount on properties puts Suburb at number 1087th in terms of most discounted suburbs in NSW
With a capital gain of -1.61% for the last 12 months, Carlton, 2218 has performed for property investments than its average annual 7.99% property growth over the last 5 years.
Comparing Carlton,2218 ‘s 5year and quarterly average capital gain offered to property investors, it performed less well across the longer period
Property investors looking for a bargain in Carlton should be aiming for at least -4.17% off the asking price, which is the average vendor discount being achieved at the moment.
Renters in Suburb are facing rents around $5520 per annum or $460 every week.
Unlike its Melbourne namesake, south west Sydney suburb Carlton is closer to the ocean than it is to the CBD, being only 3km from Botany Bay but 13km from the city. It’s located in the St George government area, and offers excellent transport links to the city, with regular direct trains taking around 20 minutes to get to Central on the Illawarra line.Full summary
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Unlike its Melbourne namesake, south west Sydney suburb Carlton is closer to the ocean than it is to the CBD, being only 3km from Botany Bay but 13km from the city. It’s located in the St George government area, and offers excellent transport links to the city, with regular direct trains taking around 20 minutes to get to Central on the Illawarra line.
There are no major road connections near the suburb, although the M5 leading west is a short drive north, and the Princes Highway leading south can be reached through Sutherland Shire.
Carlton has a few amenities, with the main shopping centre being located on Railway Parade and Carlton Parade. Even so, there is a Westfield in nearby Hurstville and further cafes and restaurants a few minutes further up Railway Parade into Kogarah and Hurstville.
The St George hospital is also located on the border with Kogarah, and there are several public and private schools within Carlton and Kogarah. The suburb itself is quieter on the Carlton Parade side, with more parks and leafier streets: favourite streets amongst locals include Garfield Street to the south of Railway Parade, and Kitchener Street on the north side of the railway.
It’s a fairly multicultural suburb, with around 40% of residents born overseas in the most recent census. The top countries of birth were China (8.1%), Macedonia (4%) and Greece (3.4%). The suburb has a diverse population, although there is a dominance of families. Average weekly incomes are in line with the NSW average.
It’s affordability, therefore, which is the key to Carlton. Unit prices compare favourably with the neighbouring waterside suburbs, as well as being generally affordable for Sydney. This affordability also means that yields are relatively robust. Vacancy rates are low, suggesting there could be scope for rental growth. Either way, Carlton is a good choice for investors wanting affordable properties that combine proximity to the ocean with easy access to the CBD.