Suburb Profile Report for Lakemba NSW (2195)

Lakemba House: Median price $880,000, Annual capital growth 7.77%, Number of sales 25, Weekly median advertised rent $520

Lakemba Unit: Median price $380,000, Annual capital growth 6.03%, Number of sales 122, Weekly median advertised rent $360

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

Source: Monthly data update for Jun 2020 as supplied by CoreLogic. Data is reported to the period ending Mar 2020. Please note that property sales data is routinely updated, so may change retrospectively.

  • Expert Report
  • House Report
  • Unit Report

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.”

Metrics i HOUSE UNIT
$880,000 $380,000
7.98% 0.00%
8.64% -6.17%
7.77% 6.03%
$520 $360
25 122
3.07% 4.93%
65.25 60.9117647058824

Source: Monthly data update for Jun 2020 as supplied by CoreLogic. Data is reported to the period ending Mar 2020. Please note that property sales data is routinely updated, so may change retrospectively.

DSR Score for property investment : Above average (H), Balanced (U)
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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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