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 -8.33%
The five-year average increase in median property values for Blacktown,2148 has given property investors a potential capital gain of 25.71% across each of those five years.
LACK OF BUYER INTEREST may well be the reason that Blacktown is offering property investors an average of -7.32. This rate of discount on properties puts Suburb at number 545th in terms of most discounted suburbs in NSW
Property investors should expect to get $425 weekly from the median priced house in this suburb.
NSW has seen average median house prices change by -3.67% which means that Blacktown, 2148 has not done well for property investors by showing a capital gain of -16.36% over the last year
The five-year average increase in median property values for Blacktown,2148 has given property investors a potential capital gain of 20.50% across each of those five years.
Blacktown, 2148 is offering NSW ‘s 64th most discounted properties when looking at the average discount being offered by vendors. This puts it in the TOP 20% of discounts offered by this NSW.
In the last year 221 properties changed hands in Blacktown, which puts it as the 30th most active market in NSW when comparing the number of sales per suburb.
Using the current median advertised rental of $400 and the average annual increase in value of a median property of 5.55%, investors should hope to achieve an overall return of 4.52%
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.