Giving property investors a an average capital gain of 9.17% for the last year, Lakemba, 2195 is the 1786th highest performer in Australia in this respect.
While Lakemba,2195 ranked number 1023th in NSW for increase in median house value (annualised) increase, it is ranked 224th over the last 5 years.
Sellers are offering property buyers an average discount of -5.06% to buyers in Lakemba at the moment, which is less than average for the rest of NSW.
NSW has seen average median house prices change by 8.39% which means that Lakemba, 2195 has done well for property investors by showing a capital gain of 8.39% over the last year
Across a shorter period, Lakemba, 2195 has seen a median price increase of 1.33% over the last quarter.
Lakemba, 2195 is offering NSW ‘s 23th most discounted properties when looking at the average discount being offered by vendors. This puts it in the TOP 10% of discounts offered by this NSW.
Using the current median advertised rental of $380 and the average annual increase in value of a median property of 9.92%, investors should hope to achieve an overall return of 4.54%
Lakemba is well known for its vibrant multicultural mix, being a popular destination for overseas migrants. There’s also a wide range of shopping amenities along Haldon Street and residents enjoy a large selection of restaurants in the area
Information supplied by:
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.”