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 -5.29%.
If we look at median property appreciation over just the last three months, Canterbury has given property investors a paper return of -1.28%. This puts Suburb as 928 on a list of fastest fasting appreciating suburbs in NSW
Property investors should expect to get $625 weekly from the median priced house in this suburb.
With a capital gain of -1.33% for the last 12 months, Canterbury, 2193 has performed for property investments than its average annual 7.75% property growth over the last 5 years.
Taking the average capital gain, or increase in median house value, Canterbury,2193 has racked up an average of -1.33% over the period. This ranks it number 1165th in the whole country for real estate investors looking at median house price increases.
Property investors looking for a bargain in Canterbury should be aiming for at least -5.03% off the asking price, which is the average vendor discount being achieved at the moment.
In the last year 154 properties changed hands in Canterbury, which puts it as the 65th most active market in NSW when comparing the number of sales per suburb.
Property investors should expect to get $525 weekly from the median priced house in this suburb.
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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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