Investment property in Narwee has done poorly for investors when compared to the country as a whole over the last 12 months, with an increase in the median house price of -9.67%
Taking the average capital gain, or increase in median house value, Narwee,2209 has racked up an average of -9.67% over the period. This ranks it number 3611th in the whole country for real estate investors looking at median house price increases.
Narwee is in the bottom 10% in NSW when comparing median price capital growth over the last year. Narwee gave property investors a dismal capital gain figure when compared to the rest of the state, with -25.37%.
Comparing Narwee,2209 ‘s 5year and quarterly average capital gain offered to property investors, it performed less well across the longer period
Narwee is 190th on a list of best yielding suburbs for rents in NSW with a 4.37% return
Information supplied by:
Tenants have little room
Median unit price: $645,000
Vacancy rate: 1.1%
Three-year growth: 14.8%
Once known as Sunning Hill Farm, the suburb of Narwee was named after an Aboriginal word for “sun.”
The suburb’s railway station was first established in 1931, and today is a stop on the Airport & South Line of the Sydney Trains network. Narwee Primary School is situated here – the suburb once had a high school, but the land has since been developed for residential use.
Adjacent to the train station, Broadarrow Road serves as the suburb’s main street and its commercial hub, being the main shopping district. The suburb is also close to other shopping centres in Roselands, Hurstville, Miranda and Bankstown.
These advantages have made Narwee very popular with tenants; thus, the suburb’s vacancy rates have remained at an extremely tight 1%. The weekly rent rate comes in at $423, and investors can reap returns of 3.4%.