With a capital gain of -15.00% for the last 12 months, Lakemba, 2195 has performed for property investments than its average annual 7.25% property growth over the last 5 years.
The five-year average increase in median property values for Lakemba,2195 has given property investors a potential capital gain of 15.36% across each of those five years.
With the median price for a house in Lakemba being $807500 and the advertised rent reaching $530 the gross rental yield for property investors calculates out to be 3.41%
Investment property in Lakemba 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 -11.62%
While Lakemba,2195 ranked number 397th in NSW for increase in median house value (annualised) increase, it is ranked 418th over the last 5 years.
Our latest figures would indicate that property sellers in Lakemba are currently offering property investors an average price cut of -9.35% below the asking price at the moment.
At number 552 in a list of fastest selling suburbs, Lakemba is just in the top half of suburbs in Australia with an average of days on market 75.1064 for properties listed there.
Using the current median advertised rental of $370 and the average annual increase in value of a median property of 6.58%, investors should hope to achieve an overall return of 5.08%
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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.”