Canterbury, 2193 ranked 840th in NSW when comparing growth in median property values or capital gain over the last 12 months. Canterbury is one of 3163 in our list for NSW
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.
LACK OF BUYER INTEREST may well be the reason that Canterbury is offering property investors an average of -2.11. This rate of discount on properties puts Suburb at number 497th in terms of most discounted suburbs in NSW
On average over the past year, suburb has had 3.67 sales per month, which equates to 44 per year.
Canterbury is 682th on a list of best yielding suburbs for rents in NSW with a 3.78% return
Canterbury has had a A very good year for property investment returns compared to the rest of NSW, giving investors a capital gain of 44.74% to date .
Comparing Canterbury,2193 ‘s 5year and quarterly average capital gain offered to property investors, it performed better across the longer period
State is the 3rd most discounted Australian state or territory in this month’s figures with an average Vendor Discount of -2.31% offered to property buyers. Sellers in Canterbury itself are offering an average vendor discount of -4.39% to real estate investors.
Often selling an investment property can take time, and in Canterbury the average time real estate has been on the market is 76.7273 days.
Canterbury is 87th on a list of best yielding suburbs for rents in NSW with a 5.67% return
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.