Investment property in Russell Lea has done poorly for investors when compared to the country as a whole over the last 12 months, with an increase in the median house price of -18.14%
The five-year average increase in median property values for Russell Lea,2046 has given property investors a potential capital gain of 44.81% across each of those five years.
Russell Lea, 2046’s gross rental yield is 2.53%
With a capital gain of -17.57% for the last 12 months, Russell Lea, 2046 has performed for property investments than its average annual 4.66% property growth over the last 5 years.
Russell Lea,2046 has offered an average of -17.57% return per annum in house price rises to property investors over the last three years.
Situated 6.32km from the CBD, Russell Lea is one of Canada Bay (A) localities in the postcode 2046.
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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.