Over the last year, property investments in Russell Lea, 2046 have given investors a capital gain of -0.41%. This compares favourably with the -2.98% for NSW as a whole.
The five-year average increase in median property values for Russell Lea,2046 has given property investors a potential capital gain of 25.17% across each of those five years.
Using the current median advertised rental of $900 and the average annual increase in value of a median property of 7.47%, investors should hope to achieve an overall return of 2.54%
Investment property in Russell Lea has done well for investors when compared to the country as a whole over the last 12 months, with an increase in the median house price of 8.18%
Across a shorter period, Russell Lea, 2046 has seen a median price increase of 10.97% over the last quarter.
On average over the past year, suburb has had 1.50 sales per month, which equates to 18 per year.
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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.