NSW has seen average median house prices change by -4.21% which means that Bankstown, 2200 has not done well for property investors by showing a capital gain of -14.30% over the last year
Across a shorter period, Bankstown, 2200 has seen a median price increase of -4.78% over the last quarter.
The most recent median price for Bankstown is $857000, with sellers offering an average of -9.09% off the asking price.
Using the current median advertised rental of $550 and the average annual increase in value of a median property of 7.08%, investors should hope to achieve an overall return of 3.34%
Bankstown, 2200 ranked 299th in NSW when comparing growth in median property values or capital gain over the last 12 months. Bankstown is one of 3163 in our list for NSW
Data for the last quarter indicates that, in the short term at least, the capital value growth rate for property investors in Bankstown has increased when compared to the 5 year average annual rate.
Property buyers and investors in Bankstown 2200 should be seeing an average reduction in asking price of around -9.09% . This means that Bankstown is holding prices well when compared to other suburbs in NSW.
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The suburb of Bankstown, which has long been a popular prospect for Sydney buyers, has seen its value skyrocket in the past 12 months alone.
It recorded a whopping 15.9% increase in house prices, whereas units saw 5.2% growth. While the unit market is not growing at the same rate as the house market, it has been rising steadily. Rental yields for apartments are also reasonably strong at an average of 4.4%.
Bankstown’s key appeal is in its proximity to the CBD. The Bankstown Airport is just 10 minutes away, and it is the site of a large business park. There are several schools as well, including a university and a hospital school. There are various shopping hubs, and for public transport, there is a train station in the suburb.