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 9.09%.
Taking the average capital gain, or increase in median house value, Lilyfield,2040 has racked up an average of 9.09% over the period. This ranks it number 2109th in the whole country for real estate investors looking at median house price increases.
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 -2.90% is being offered, which puts this NSW suburb at 2353th most discounted overall in Australia.
Often selling an investment property can take time, and in Lilyfield the average time real estate has been on the market is 34.4231 days.
Lilyfield, 2040’s gross rental yield is 2.31%
At number 1360th in the list of Australian suburbs ordered by increase in median house value over the last year, Lilyfield, 2040 is in the BOTTOM 20% with a property value increase of -6.10% recorded in median house prices.
Comparing Lilyfield,2040 ‘s 5year and quarterly average capital gain offered to property investors, it performed less well across the longer period
State is the 7th most discounted Australian state or territory in this month’s figures with an average Vendor Discount of -4.05% offered to property buyers. Sellers in Lilyfield itself are offering an average vendor discount of -7.06% to real estate investors.
At number 234 in a list of fastest selling suburbs, Lilyfield is in the TOP 20% of suburbs in Australia with an average of days on market 49.0769 for properties listed there.
Using the current median advertised rental of $495 and the average annual increase in value of a median property of 7.96%, investors should hope to achieve an overall return of 2.57%
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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.