Property value increases in Russell Lea have tracked lower than the NSW average of 4.94% over the last 12 months.
Russell Lea,2046 has offered an average of -11.76% return per annum in house price rises to property investors over the last three years.
Our latest figures would indicate that property sellers in Russell Lea are currently offering property investors an average price cut of -8.38% below the asking price at the moment.
Often selling an investment property can take time, and in Russell Lea the average time real estate has been on the market is 61.76 days.
A $850 per week rent on the median house gives suburb investors a gross yield of circa 2.10%, without taking into account capital value appreciation, which has been averaging out at 9.27%.
At number 522th in the list of Australian suburbs ordered by increase in median house value over the last year, Russell Lea, 2046 is in the top 40% with a property value increase of 7.58% recorded in median house prices.
Russell Lea, 2046’s gross rental yield is 3.16%
Just 8km from the Sydney CBD, Russell Lea sits on the western banks of the Parramatta RiverFull summary
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Commuter-friendly suburb boasts low vacancies
Median house price: $2,365,000
Vacancy rate: 1.1%
Three-year growth: 78.8%
Just 8km from the Sydney CBD, Russell Lea sits on the western banks of the Parramatta River.
This inner-west locale is your classic quiet, tree-lined suburb, populated by a mix of Federation-style homes and luxurious waterfront pads. Its proximity to the city makes it popular with commuters, and sees it attract more than double the visits per property than the NSW average.
Both houses and units have continue to perform strongly, with houses gaining 10.9% over the past twelve months to $2.365 million, and units now sitting at a median of $857,000, up 7.1% this year.
Landlords are enjoying the 1.1% vacancy rate, and can expect to charge $850 per week for houses, and $550 per week for units – which is perhaps why units take, on average, just 32 days to sell when put on the market.Close