If you compare the increase in value of investment property in Canterbury, 2193 to the rest of Australia, it performed quite well. The median increase in value, or capital gain property investors experienced for this NSW suburb was 9.01%.
When looking at the potential capital gains offered to property investors over the last 3 years, Canterbury comes in at number 1117th in NSW.
In the last year 34 properties changed hands in Canterbury, which puts it as the 802th most active market in NSW when comparing the number of sales per suburb.
Property investors should expect to get $585 weekly from the median priced house in this suburb.
Canterbury has had a quite poor year for property investment returns compared to the rest of NSW, giving investors a capital gain of 2.34% 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 fallen somewhat when compared to the 5 year average annual rate.
At number 66th of NSW’s most discounted properties, Canterbury is in the bottom 30% of the state/territory when listing in order of most discounted to least.
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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.