Canterbury is in the bottom 20% in NSW when comparing median price capital growth over the last year. Canterbury gave property investors a dismal capital gain figure when compared to the rest of the state, with -4.73%.
Over the longer term, Canterbury has seen property prices show investors a 17.96% return over the last 3 years. This is worse than over the last 12 months
Property investors looking for a bargain in Canterbury should be aiming for at least -15.38% off the asking price, which is the average vendor discount being achieved at the moment.
A $617.5 per week rent on the median house gives suburb investors a gross yield of circa 2.45%, without taking into account capital value appreciation, which has been averaging out at 9.25%.
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 decrease in value by -2.01%
Canterbury,2193 has offered an average of -2.01% return per annum in house price rises to property investors over the last three years.
Property investors looking for a bargain in Canterbury should be aiming for at least -5.51% off the asking price, which is the average vendor discount being achieved at the moment.
Using the current median advertised rental of $520 and the average annual increase in value of a median property of 7.46%, investors should hope to achieve an overall return of 3.97%
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July 2018
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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%Full summary
Rental demand falls
Postcode: 2193
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.
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