Property investors who have had real estate in Canterbury, 2193 should be relatively unhappy 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 9.72%
While Canterbury,2193 ranked number 276th in NSW for increase in median house value (annualised) increase, it is ranked 1275th over the last 5 years.
In the last year 44 properties changed hands in Canterbury, which puts it as the 821th most active market in NSW when comparing the number of sales per suburb.
Canterbury is 975th on a list of best yielding suburbs for rents in NSW with a 2.18% return
Giving property investors a an unimpressive capital gain of 3.08% for the last year, Canterbury, 2193 is the 1107th highest performer in Australia in this respect.
Canterbury,2193 was ranked 1570 in Australia by increase in median property value over the quarter.
Sellers are offering property buyers an average discount of -3.83% to buyers in Canterbury at the moment, which is less than average for the rest of NSW.
At number 1199 in a list of fastest selling suburbs, Canterbury is in the bottom 30% of suburbs in Australia with an average of days on market 80.9259 for properties listed there.
Advertised rents are around the $450 mark per week – giving a return of 3.49% based on the median price in Suburb
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.