Lugarno has had a very poor year for property investment returns compared to the rest of NSW, giving investors a capital gain of -11.98% to date .
Lugarno,2210 has offered an average of -11.98% return per annum in house price rises to property investors over the last three years.
Property investors looking for a bargain in Lugarno should be aiming for at least -7.80% off the asking price, which is the average vendor discount being achieved at the moment.
A $650 per week rent on the median house gives suburb investors a gross yield of circa 3.02%, without taking into account capital value appreciation, which has been averaging out at 5.81%.
Information supplied by:
Lugarno, NSW – Rental market gets some wiggle room
Median house price: $1,200,000
Vacancy rate: 1.1%
Three-year growth: 3.0%
The suburb of Lugarno is located within the Georges River Council LGA, although it is often mistaken as a part of the Sutherland Shire. It is known for its bushlands and parks, namely, Georges River National Park, the CF Williams Reserve and HV Evatt Park.
Over August 2018-2019, vacancy rates loosened from an average of 0.3% to 1.1%.
Lugarno sits on the Georges River’s northern bank and was named for Switzerland’s Lake Lugano back in the 1840s. Its commercial area may not be a bustling one, but it caters to residents; needs with an IGA supermarket, takeaways, cafes and a convenience store. There is also a dental and medical centre at the Lime Kiln collection of shops.