Blacktown has had a quite poor year for property investment returns compared to the rest of NSW, giving investors a capital gain of -10.14% to date .
When looking at the potential capital gains offered to property investors over the last 3 years, Blacktown comes in at number 1075th in NSW.
The most recent median price for Blacktown is $665000, with sellers offering an average of -6.70% off the asking price.
Residents and property investors in Blacktown have been waiting around 64.3377 days to sell a property.
The NSW suburb of Blacktown, 2148 is in the Blacktown (C) local government area.
Giving property investors a a poor capital gain of -14.05% for the last year, Blacktown, 2148 is the 1355th highest performer in Australia in this respect.
While Blacktown,2148 ranked number 426th in NSW for increase in median house value (annualised) increase, it is ranked 219th over the last 5 years.
Property investors looking for a bargain in Blacktown should be aiming for at least -7.74% off the asking price, which is the average vendor discount being achieved at the moment.
Property investors should expect to get $410 weekly from the median priced house in this suburb.
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.