With a capital gain of -5.57% for the last 12 months, Russell Lea, 2046 has performed for property investments than its average annual 7.30% property growth over the last 5 years.
Taking the average capital gain, or increase in median house value, Russell Lea,2046 has racked up an average of -5.57% over the period. This ranks it number 2483th in the whole country for real estate investors looking at median house price increases.
With the median price for a house in Russell Lea being $1822500 and the advertised rent reaching $875 the gross rental yield for property investors calculates out to be 2.50%
Comparing Russell Lea,2046 ‘s 5year and quarterly average capital gain offered to property investors, it performed less well across the longer period
At number 32 in a list of fastest selling suburbs, Russell Lea is in the TOP 10% of suburbs in Australia with an average of days on market 38.6923 for properties listed there.
Situated 6.40km from the CBD, Russell Lea is one of Canada Bay (A) localities in the postcode 2046.
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Commuter-friendly suburb boasts low vacancies
Median house price: $2,365,000
Vacancy rate: 1.1%
Three-year growth: 78.8%
Just 8km from the Sydney CBD, Russell Lea sits on the western banks of the Parramatta River.
This inner-west locale is your classic quiet, tree-lined suburb, populated by a mix of Federation-style homes and luxurious waterfront pads. Its proximity to the city makes it popular with commuters, and sees it attract more than double the visits per property than the NSW average.
Both houses and units have continue to perform strongly, with houses gaining 10.9% over the past twelve months to $2.365 million, and units now sitting at a median of $857,000, up 7.1% this year.
Landlords are enjoying the 1.1% vacancy rate, and can expect to charge $850 per week for houses, and $550 per week for units – which is perhaps why units take, on average, just 32 days to sell when put on the market.