Investment property in Canterbury has done 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 -14.97%
When looking at the potential capital gains offered to property investors over the last 3 years, Canterbury comes in at number 1260th in NSW.
Canterbury, 2193’s gross rental yield is 2.71%
Canterbury has had a pretty good year for property investment returns compared to the rest of NSW, giving investors a capital gain of -2.74% to date .
Canterbury,2193 has offered an average of -2.74% return per annum in house price rises to property investors over the last three years.
State is the 4th most discounted Australian state or territory in this month’s figures with an average Vendor Discount of -6.79% offered to property buyers. Sellers in Canterbury itself are offering an average vendor discount of -7.88% to real estate investors.
Residents and property investors in Canterbury have been waiting around 89.6977 days to sell a property.
Canterbury, 2193’s gross rental yield is 3.91%
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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.