Blacktown is in the bottom 40% in NSW when comparing median price capital growth over the last year. Blacktown gave property investors a disappointing capital gain figure when compared to the rest of the state, with -7.33%.
While Blacktown,2148 ranked number 979th in NSW for increase in median house value (annualised) increase, it is ranked 591th over the last 5 years.
When looking to buy, or assessing what properties are really achieving at sale, it's essential for property investors to take into account what discounts are being offered in Blacktown, 2148. Typically our figures indicate that -6.33% is being offered, which puts this NSW suburb at 1601th most discounted overall in Australia.
The NSW suburb of Blacktown, 2148 is in the Blacktown (C) local government area.
Property investors who have had real estate in Blacktown, 2148 should be relatively unhappy with this NSW suburb’s performance compared to the rest of the country. Over the last year it has seen median house prices decrease in value by -8.18%
Data for the last quarter indicates that, in the short term at least, the capital value growth rate for property investors in Blacktown has increased when compared to the 5 year average annual rate.
Sellers are offering property buyers an average discount of -6.91% to buyers in Blacktown at the moment, which is less than average for the rest of NSW.
With the median price for a house in Blacktown being $505000 and the advertised rent reaching $410 the gross rental yield for property investors calculates out to be 4.22%
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.