Suburb Profile Report for Lakemba NSW (2195)

Lakemba House: Median price $950,000, Annual capital growth 10.13%, Number of sales 44, Weekly median advertised rent $525

Lakemba Unit: Median price $430,500, Annual capital growth 9.56%, Number of sales 190, Weekly median advertised rent $380

  • House
  • Unit
Source: CoreLogic RP Data
  • Median price
  • Number of sales

Source: CoreLogic

  • House Report
  • Unit Report
  • Expert Report

Over the last year, property investments in Lakemba, 2195 have given investors a capital gain of 3.71%. This compares badly with the 8.12% for NSW as a whole.

A 83.75% growth in median value for property investors in Lakemba,2195 puts this suburb at number 745th in terms of best performing suburbs in NSW

Our latest figures would indicate that property sellers in Lakemba are currently offering property investors an average price cut of -8.27% below the asking price at the moment.

Residents and property investors in Lakemba have been waiting around 67.54 days to sell a property.

Property investors should expect to get $525 weekly from the median priced house in this suburb.

NSW has seen average median house prices change by 5.36% which means that Lakemba, 2195 has done well for property investors by showing a capital gain of 2.50% over the last year

If we look at median property appreciation over just the last three months, Lakemba has given property investors a paper return of -0.46%. This puts Suburb as 359 on a list of fastest fasting appreciating suburbs in NSW

Our latest figures would indicate that property sellers in Lakemba are currently offering property investors an average price cut of -7.38% below the asking price at the moment.

A $380 per week rent on the median house gives suburb investors a gross yield of circa 4.59%, without taking into account capital value appreciation, which has been averaging out at 9.56%.

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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

Full summary

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.”

Close
Metrics i HOUSE UNIT
$950,000 $430,500
0.00% -0.46%
3.71% 2.50%
10.13% 9.56%
$525 $380
44 190
2.87% 4.59%
67.54 74.09

Source: CoreLogic

DSR Score for property investment : Above average (H), Above average (U)
Find a mortgage broker in Lakemba NSW
Demographics
Total population 15507
Median household income ($/weekly) 849
Median age of persons 30
Median housing loan repayment ($/monthly) 1495
Average household size 3
  • Census Count Percent(%)
    0-4 years 1688 10.9
    5-14 years 2177 14.0
    25-34 years 3248 20.9
    35-44 years 2241 14.5
    45-54 years 1692 10.9
    Others 4461 28.8
    Age Group
    Census Count Percent(%)
    Registered Married 5878 55.7
    Not Married 4471 42.3
    Defacto Relationship 209 2.0
    Social Marital Status
  • Census Count Percent(%)
    Australia 5024 35.4
    Indonesia 594 4.2
    Malaysia 812 5.7
    Viet Nam 603 4.3
    Other 4190 29.5
    Others 2957 20.9
    Country of Birth
    Census Count Percent(%)
    Buddhism 665 4.7
    Christianity 4248 30.0
    Hinduism 326 2.3
    Islam 8032 56.6
    No Religion 829 5.8
    Others 82 0.6
    Religious Affiliation
  • Census Count Percent(%)
    $400-$599 592 14.0
    $600-$799 638 15.1
    $800-$999 521 12.3
    $1,000-$1,249 486 11.5
    $1,500-$1,999 447 10.6
    Others 1539 36.4
    Gross Household Income (Weekly)
    Census Count Percent(%)
    Not in the labour force 4753 45.2
    Employed, worked full-time 2942 28.0
    Employed, worked part-time 1749 16.6
    Unemployed, looking for work 678 6.4
    Employed, away from work 398 3.8
    Person Characteristics
  • Census Count Percent(%)
    Professionals 773 15.2
    Technicians & trades workers 702 13.8
    Clerical & administrative workers 616 12.1
    Machinery operators & drivers 666 13.1
    Labourers 832 16.4
    Others 1499 29.5
    Occupation
    Census Count Percent(%)
    Infants/Primary 1286 31.3
    Secondary 920 22.4
    Technical or Further Educational Institution 588 14.3
    University or other Tertiary Institutions 813 19.8
    Other type of educational institution 266 6.5
    Others 240 5.8
    Type of Educational Institution Attending
  • Census Count Percent(%)
    Flat, unit or apartment 9147 63.9
    Separate house 4362 30.5
    Semi-detached, row or terrace house, townhouse 764 5.3
    House or flat attached to a shop, office 36 0.3
    Caravan, cabin, houseboat 0 0.0
    Others 0 0.0
    Dwelling Structure
    Census Count Percent(%)
    Rented 2378 52.2
    Being purchased 1124 24.7
    Fully owned 1024 22.5
    Other tenure type 28 0.6
    Tenure Type
Census 2011, ABS
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Recent sales & rentals