Canterbury has had a A very good year for property investment returns compared to the rest of NSW, giving investors a capital gain of 11.57% to date .
Data for the last quarter indicates that, in the short term at least, the capital value growth rate for property investors in Canterbury has increased when compared to the 5 year average annual rate.
Often selling an investment property can take time, and in Canterbury the average time real estate has been on the market is 67.6154 days.
Advertised rents are around the $600 mark per week – giving a return of 2.43% based on the median price in Suburb
Canterbury is in the bottom 30% in NSW when comparing median price capital growth over the last year. Canterbury gave property investors a disappointing capital gain figure when compared to the rest of the state, with -5.87%.
Canterbury,2193 has offered an average of -5.87% return per annum in house price rises to property investors over the last three years.
Canterbury2193 is located in NSW which offers an average discount of -5.74% to property investors. Canterbury itself is showing figures that indicate -6.65% is the average achievable by property buyers investing in the suburb.
Renters in Suburb are facing rents around $25740 per annum or $495 every week.
Information supplied by:
Rental demand falls
Median house price: $1,397,500
Vacancy rate: 4.1%
Three-year growth: 56.2%
The period of April 2017-2018 saw plenty of tenants exit the rental market in the suburb of Canterbury, as the average vacancy rate more than doubled, from 1.9% to 4.1%.
Located about 10km southwest of the Sydney CBD, Canterbury is a premium suburb whose median price is well above the $1m mark. With the average weekly rent rate coming in at just $638, this could be a deterrent for investors. That said, the buyer market seems to be going strong, as house values increased by 10% in the same period, perhaps riding the last of Sydney’s booming market conditions.
Canterbury is a transport hub, with Canterbury Road being an arterial route that links the suburb to the inner city. Trains on the Bankstown line stop at the Canterbury railway station, giving local residents an easy commute to the city.