Blacktown has had a pretty average year for property investment returns compared to the rest of NSW, giving investors a capital gain of -0.54% to date .
Data for the last quarter indicates that, in the short term at least, the capital value growth rate for property investors in Blacktown has increased when compared to the 5 year average annual rate.
Our latest figures would indicate that property sellers in Blacktown are currently offering property investors an average price cut of -6.05% below the asking price at the moment.
Often selling an investment property can take time, and in Blacktown the average time real estate has been on the market is 48.4336 days.
Renters in Suburb are facing rents around $21840 per annum or $420 every week.
Property investors who have had real estate in Blacktown, 2148 should be relatively unhappy with this NSW suburb’s performance compared to the rest of the country. Over the last year it has seen median house prices decrease in value by -4.90%
Taking the average capital gain, or increase in median house value, Blacktown,2148 has racked up an average of -4.90% over the period. This ranks it number 1206th in the whole country for real estate investors looking at median house price increases.
Our latest figures would indicate that property sellers in Blacktown are currently offering property investors an average price cut of -6.90% below the asking price at the moment.
Often selling an investment property can take time, and in Blacktown the average time real estate has been on the market is 77.4702 days.
A $400 per week rent on the median house gives suburb investors a gross yield of circa 4.29%, without taking into account capital value appreciation, which has been averaging out at 5.69%.
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.