Investment property in Tempe has done pretty poorly for investors when compared to the country as a whole over the last 12 months, with an increase in the median house price of -7.71%
Data for the last quarter indicates that, in the short term at least, the capital value growth rate for property investors in Tempe has increased when compared to the 5 year average annual rate.
Situated 7.41km from the CBD, Tempe is one of Inner West (A) localities in the postcode 2044.
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Tempe is located 9km southwest of the Sydney CBD, where the Cooks River and Alexandra Canal join. It is at the junction of a few train lines, with the CBD, the Sutherland Shire and the outer west all easily accessible by rail. Botany Bay is within easy reach, as is Sydney airport. The amenities of Newtown are also a short bus or train ride away.
Tempe attracts an affluent demographic, with an average weekly income that's significantly higher than the NSW average. It’s a small, tightly-held suburb, and properties are in demand with very little vendor discounting.
Tempe is cheaper than nearby suburbs like Marrickville ($740,000) or Brighton-Le-Sands, so there may still be scope for growth fuelled by buyers priced out of those suburbs. Ongoing gentrification of this part of Sydney should also ensure long-term growth. Investors can pick up 'renovator’s delight’ properties for quick equity boost.