Investment property in Canterbury has done pretty poorly for investors when compared to the country as a whole over the last 12 months, with an increase in the median house price of -8.02%
If we look at median property appreciation over just the last three months, Canterbury has given property investors a paper return of 4.78%. This puts Suburb as 124 on a list of fastest fasting appreciating suburbs in NSW
At number 2754 in a list of fastest selling suburbs, Canterbury is in the bottom 30% of suburbs in Australia with an average of days on market 98 for properties listed there.
Property value increases in Canterbury have tracked just lower than the NSW average of -4.02% over the last 12 months.
The five-year average increase in median property values for Canterbury,2193 has given property investors a potential capital gain of 3.23% across each of those five years.
Property buyers and investors in Canterbury 2193 should be seeing an average reduction in asking price of around -8.64% . This means that Canterbury is holding prices well when compared to other suburbs in NSW.
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Information supplied by:
July 2018
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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.