Allawah has had a quite poor year for property investment returns compared to the rest of NSW, giving investors a capital gain of -6.70% to date .
Taking the average capital gain, or increase in median house value, Allawah,2218 has racked up an average of -6.70% over the period. This ranks it number 3338th in the whole country for real estate investors looking at median house price increases.
In the last year 15 properties changed hands in Allawah, which puts it as the 1155th most active market in NSW when comparing the number of sales per suburb.
Using the current median advertised rental of $605 and the average annual increase in value of a median property of 7.37%, investors should hope to achieve an overall return of 2.59%
Investment property in Allawah has done around average for investors when compared to the country as a whole over the last 12 months, with an increase in the median house price of -3.32%
Allawah,2218 was ranked 661 in Australia by increase in median property value over the quarter.
Property buyers and investors in Allawah 2218 should be seeing an average reduction in asking price of around -5.39% . This means that Allawah is holding prices well when compared to other suburbs in NSW.
On average over the past year, suburb has had 4.08 sales per month, which equates to 49 per year.
A $477.5 per week rent on the median house gives suburb investors a gross yield of circa 3.92%, without taking into account capital value appreciation, which has been averaging out at 5.58%.
Information supplied by:
Allawah, NSW – Prices fall in south Sydney suburb
Median unit price: $634,500
Three-year growth: -5.2%
Rental yield: 3.9%
Roughly 30 minutes’ drive south of the Sydney CBD is Allawah, a small, landlocked suburb that is highly accessible, thanks to its public transport options. Its name is an Aboriginal term that aptly means, “make your abode here”. However, this abode has seen some decline, with price falling by 5.2% in the three years to June 2019.
The local railway station is a stop along the Illawarra line of the Sydney Trains network, and the suburb’s main shopping hub is located beside the station on Railway Parade. This hub has a grocery store, takeaways and a hotel. St Raphaels Catholic Church is one of Allawah’s main features, as is the Southern Sydney Synagogue.