Lilyfield is an average performer in NSW when comparing median price capital growth over the last year. Lilyfield gave property investors a average capital gain figure when compared to the rest of the state, with -5.15%.
Over the longer term, Lilyfield has seen property prices show investors a 7.50% return over the last 3 years. This is worse than over the last 12 months
LACK OF BUYER INTEREST may well be the reason that Lilyfield is offering property investors an average of -7.38. This rate of discount on properties puts Suburb at number 767th in terms of most discounted suburbs in NSW
At number 1430 in a list of fastest selling suburbs, Lilyfield is in the TOP 40% of suburbs in Australia with an average of days on market 70.85 for properties listed there.
Property investors should expect to get $850 weekly from the median priced house in this suburb.
Investment property in Lilyfield has done not badly for investors when compared to the country as a whole over the last 12 months, with an increase in the median house price of 5.39%
Comparing Lilyfield,2040 ‘s 5year and quarterly average capital gain offered to property investors, it performed less well across the longer period
Renters in Suburb are facing rents around $27040 per annum or $520 every week.
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Working-class suburb enjoys upgrade
Median house price: $1,567,500
Three-year growth: 60.60%
Rental yield: 2.49%
A stone’s throw west of the Sydney CBD, Lilyfield has seen its stock rise due to gentrification and renovation.
Originally a suburb for the working class, Lilyfield is now mainly targeted towards the middle class, with many investors choosing to redevelop the old workers’ cottages. Thus, the median house price has soared to over $1.5m. In the past 12 months alone, there was nearly 12% growth, with vendors unloading homes while offering a very low average discount of just 2.2%
Rental yield isn’t very high here given the high prices and stiff competition. Nonetheless, the income will surely be steady as the average vacancy rate indicates that the majority of properties are occupied.
Lilyfield is highly accessible by tram and several bus routes. The City West Link Road is linked to the A4, and various bicycle routes can lead to Parramatta.