Giving property investors a an unimpressive capital gain of -7.33% for the last year, Blacktown, 2148 is the 3366th highest performer in Australia in this respect.
The five-year average increase in median property values for Blacktown,2148 has given property investors a potential capital gain of 48.03% across each of those five years.
Property investors looking for a bargain in Blacktown should be aiming for at least -6.33% off the asking price, which is the average vendor discount being achieved at the moment.
Property investors should expect to get $430 weekly from the median priced house in this suburb.
Investment property in Blacktown 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 -8.18%
Taking the average capital gain, or increase in median house value, Blacktown,2148 has racked up an average of -8.18% over the period. This ranks it number 795th in the whole country for real estate investors looking at median house price increases.
The most recent median price for Blacktown is $491000, with sellers offering an average of -6.91% off the asking price.
Information supplied by:
Unit market slows
Median unit price: $549,995
Three-year growth: 31.0%
Rental yield: 3.9%
Home to a well-knit community, the suburb of Blacktown in Sydney’s west has enjoyed massive growth over the last few years.
The suburb’s upswing has been consistent since 2013. Although growth in Blacktown has slowed a bit in tandem with Sydney, with the unit market going flat in the three months to August 2018, prices still increased by 5.7% in the August 2017-2018 period. The average discount rate remains reasonably low at 4.4%, suggesting the presence of demand.
Blacktown is regarded as one of the most multicultural areas in Sydney, and has several amenities thanks to the housing developments in the area, including cafes, shops, and restaurants. There are also many activities for residents to bond together in – neighhourhood barbecues, classes and garden competitions. The suburb is a public transportation hub for trains (via the Blacktown railway station) and buses.