With a capital gain of -17.71% for the last 12 months, Canterbury, 2193 has performed for property investments than its average annual 8.49% property growth over the last 5 years.
When looking at the potential capital gains offered to property investors over the last 3 years, Canterbury comes in at number 1370th in NSW.
On average over the past year, suburb has had 3.83 sales per month, which equates to 46 per year.
Canterbury, 2193’s gross rental yield is 2.78%
Over the last year, property investments in Canterbury, 2193 have given investors a capital gain of 0.37%. This compares favourably with the -1.55% for NSW as a whole.
Across a shorter period, Canterbury, 2193 has seen a median price increase of -1.87% over the last quarter.
Property buyers and investors in Canterbury 2193 should be seeing an average reduction in asking price of around -7.60% . This means that Canterbury is holding prices well when compared to other suburbs in NSW.
Property investors should expect to get $520 weekly from the median priced house in this 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.