Property investors who have had real estate in Blacktown, 2148 should be ok with this NSW suburb’s performance compared to the rest of the country. Over the last year it has seen median house prices increase in value by 8.89%
Blacktown,2148 was ranked 2274 in Australia by increase in median property value over the quarter.
State is the 6th most discounted Australian state or territory in this month’s figures with an average Vendor Discount of -4.73% offered to property buyers. Sellers in Blacktown itself are offering an average vendor discount of -4.85% to real estate investors.
On average over the past year, suburb has had 37.67 sales per month, which equates to 452 per year.
Property investors should expect to get $400 weekly from the median priced house in this suburb.
Property value increases in Blacktown have tracked close to the NSW average of 5.07% over the last 12 months.
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.
Property buyers and investors in Blacktown 2148 should be seeing an average reduction in asking price of around -5.48% . This means that Blacktown is holding prices well when compared to other suburbs in NSW.
Blacktown is 254th on a list of best yielding suburbs for rents in NSW with a 3.90% return
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.