At number 2569th in the list of Australian suburbs ordered by increase in median house value over the last year, Lilyfield, 2040 is in the BOTTOM 40% with a property value increase of 3.73% recorded in median house prices.
The five-year average increase in median property values for Lilyfield,2040 has given property investors a potential capital gain of 74.87% across each of those five years.
Property investors looking for a bargain in Lilyfield should be aiming for at least -3.35% off the asking price, which is the average vendor discount being achieved at the moment.
Renters in Suburb are facing rents around $10800 per annum or $900 every week.
Lilyfield is in the bottom 10% in NSW when comparing median price capital growth over the last year. Lilyfield gave property investors a dismal capital gain figure when compared to the rest of the state, with -45.43%.
Over the longer term, Lilyfield has seen property prices show investors a -35.51% return over the last 3 years. This is worse than over the last 12 months
Lilyfield, 2040 is offering NSW ‘s 63th most discounted properties when looking at the average discount being offered by vendors. This puts it in the TOP 20% of discounts offered by this NSW.
The NSW suburb of Lilyfield, 2040 is in the Leichhardt local government area.
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. As a result, the median house price has soared to over $1.5m.Full summary
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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.Close