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%.
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
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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.”