Bankstown has had a very poor year for property investment returns compared to the rest of NSW, giving investors a capital gain of -16.06% to date .
Taking the average capital gain, or increase in median house value, Bankstown,2200 has racked up an average of -16.06% over the period. This ranks it number 3201th in the whole country for real estate investors looking at median house price increases.
Bankstown, 2200 is offering NSW ‘s 129th most discounted properties when looking at the average discount being offered by vendors. This puts it in the TOP 20% of discounts offered by this NSW.
Bankstown, 2200 ranked 319th 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.
State is the 4th most discounted Australian state or territory in this month’s figures with an average Vendor Discount of -6.83% offered to property buyers. Sellers in Bankstown itself are offering an average vendor discount of -9.66% to real estate investors.
Using the current median advertised rental of $430 and the average annual increase in value of a median property of 6.65%, investors should hope to achieve an overall return of 4.61%
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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.