Investment property in Blacktown has done pretty 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 -8.85%
Blacktown,2148 was ranked 3234 in Australia by increase in median property value over the quarter.
Property investors looking for a bargain in Blacktown should be aiming for at least -6.39% off the asking price, which is the average vendor discount being achieved at the moment.
The NSW suburb of Blacktown, 2148 is in the Blacktown (C) local government area.
Over the last year, property investments in Blacktown, 2148 have given investors a capital gain of -12.73%. This compares very badly with the -3.67% for NSW as a whole.
Taking the average capital gain, or increase in median house value, Blacktown,2148 has racked up an average of -12.73% over the period. This ranks it number 969th in the whole country for real estate investors looking at median house price increases.
LACK OF BUYER INTEREST may well be the reason that Blacktown is offering property investors an average of -6.79. This rate of discount on properties puts Suburb at number 137th in terms of most discounted suburbs in NSW
Advertised rents are around the $410 mark per week – giving a return of 4.44% based on the median price in Suburb
Information supplied by:
Unit market slows
Median unit price: $549,995
Three-year growth: 31.0%
Rental yield: 3.9%
Home to a well-knit community, the suburb of Blacktown in Sydney’s west has enjoyed massive growth over the last few years.
The suburb’s upswing has been consistent since 2013. Although growth in Blacktown has slowed a bit in tandem with Sydney, with the unit market going flat in the three months to August 2018, prices still increased by 5.7% in the August 2017-2018 period. The average discount rate remains reasonably low at 4.4%, suggesting the presence of demand.
Blacktown is regarded as one of the most multicultural areas in Sydney, and has several amenities thanks to the housing developments in the area, including cafes, shops, and restaurants. There are also many activities for residents to bond together in – neighhourhood barbecues, classes and garden competitions. The suburb is a public transportation hub for trains (via the Blacktown railway station) and buses.