Property investors who have had real estate in Canterbury, 2193 should be 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 0.40%
A 1.08% growth in median value for property investors in Canterbury,2193 puts this suburb at number 962th in terms of best performing suburbs in NSW
Renters in Suburb are facing rents around $30160 per annum or $580 every week.
At number 884th in the list of Australian suburbs ordered by increase in median house value over the last year, Canterbury, 2193 is in the BOTTOM 50% with a property value increase of 3.13% recorded in median house prices.
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.
Property buyers and investors in Canterbury 2193 should be seeing an average reduction in asking price of around -4.14% . This means that Canterbury is holding prices well when compared to other suburbs in NSW.
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.