Blacktown has had a pretty average year for property investment returns compared to the rest of NSW, giving investors a capital gain of 12.86% to date .
Comparing Blacktown,2148 ‘s 5year and quarterly average capital gain offered to property investors, it performed less well across the longer period
State is the 6th most discounted Australian state or territory in this month’s figures with an average Vendor Discount of -4.39% offered to property buyers. Sellers in Blacktown itself are offering an average vendor discount of -4.94% to real estate investors.
Blacktown is 803th on a list of best yielding suburbs for rents in NSW with a 2.70% return
Giving property investors a an unimpressive capital gain of 4.25% for the last year, Blacktown, 2148 is the 1006th highest performer in Australia in this respect.
Over the longer term, Blacktown has seen property prices show investors a -7.21% return over the last 3 years. This is an improvement over the last 12 months
State is the 5th most discounted Australian state or territory in this month’s figures with an average Vendor Discount of -4.22% offered to property buyers. Sellers in Blacktown itself are offering an average vendor discount of -5.06% to real estate investors.
A $380 per week rent on the median house gives suburb investors a gross yield of circa 3.84%, without taking into account capital value appreciation, which has been averaging out at 6.47%.
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.