Property value increases in Lilyfield have tracked lower than the NSW average of 5.53% over the last 12 months.
Comparing Lilyfield,2040 ‘s 5year and quarterly average capital gain offered to property investors, it performed less well across the longer period
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 Lilyfield, 2040. Typically our figures indicate that -2.74% is being offered, which puts this NSW suburb at 3607th most discounted overall in Australia.
With the median price for a house in Lilyfield being $1650000 and the advertised rent reaching $860 the gross rental yield for property investors calculates out to be 2.71%
At number 1591th in the list of Australian suburbs ordered by increase in median house value over the last year, Lilyfield, 2040 is in the BOTTOM 10% with a property value increase of -12.02% recorded in median house prices.
Over the longer term, Lilyfield has seen property prices show investors a -1.21% 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 -4.86. This rate of discount on properties puts Suburb at number 77th in terms of most discounted suburbs in NSW
With the median price for a house in Lilyfield being $915000 and the advertised rent reaching $620 the gross rental yield for property investors calculates out to be 3.52%
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