Property investors who have had real estate in Lakemba, 2195 should be pleased 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 8.64%
The five-year average increase in median property values for Lakemba,2195 has given property investors a potential capital gain of 17.73% across each of those five years.
Lakemba is 894th on a list of best yielding suburbs for rents in NSW with a 3.07% return
Property investors who have had real estate in Lakemba, 2195 should be relatively unhappy with this NSW suburb’s performance compared to the rest of the country. Over the last year it has seen median house prices decrease in value by -6.17%
When looking at the potential capital gains offered to property investors over the last 3 years, Lakemba comes in at number 473th in NSW.
Property investors looking for a bargain in Lakemba should be aiming for at least -5.60% off the asking price, which is the average vendor discount being achieved at the moment.
At number 339 in a list of fastest selling suburbs, Lakemba is in the TOP 30% of suburbs in Australia with an average of days on market 60.9118 for properties listed there.
Using the current median advertised rental of $360 and the average annual increase in value of a median property of 6.03%, investors should hope to achieve an overall return of 4.93%
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Lakemba is well known for its vibrant multicultural mix, being a popular destination for overseas migrants – particularly those from Lebanon. The suburb’s desirability is hardly surprising given its proximity to the Sydney CBD: it's only 30 minutes away via train or bus. There’s also a wide range of shopping amenities along Haldon Street and residents enjoy a large selection of restaurants in the area.
But the most attractive feature for the suburb is affordability. The median unit price is about half the figure for Sydney. For those looking to get into the property market, this is indeed an appealing option. For property investors, this also means the potential for cash flow neutral or even positive investment.
“Lakemba used to be seen as a high crime area, and the train station has been covered with graffiti, but it's gradually changing its character,” says www.propertybuyer.com.au CEO Rich Harvey. “It’s located toward the outer ring, but it offers attractive price points for property buyers.”