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 -2.33%
The five-year average increase in median property values for Canterbury,2193 has given property investors a potential capital gain of 4.15% across each of those five years.
Advertised rents are around the $600 mark per week – giving a return of 2.49% based on the median price in Suburb
If you compare the increase in value of investment property in Canterbury, 2193 to the rest of Australia, it performed around average. The median increase in value, or capital gain property investors experienced for this NSW suburb was 2.66%.
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.
At number 134th of NSW’s most discounted properties, Canterbury is in the middle of the state/territory when listing in order of most discounted to least.
Canterbury, 2193’s gross rental yield is 3.72%
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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.