If you compare the increase in value of investment property in Narwee, 2209 to the rest of Australia, it performed quite well. The median increase in value, or capital gain property investors experienced for this NSW suburb was 4.88%.
Over the longer term, Narwee has seen property prices show investors a -4.76% return over the last 3 years. This is an improvement over the last 12 months
The NSW suburb of Narwee, 2209 is in the Canterbury-Bankstown (A) local government area.
Property investors who have had real estate in Narwee, 2209 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 10.01%
While Narwee,2209 ranked number 407th in NSW for increase in median house value (annualised) increase, it is ranked 453th over the last 5 years.
In the last year 30 properties changed hands in Narwee, which puts it as the 326th most active market in NSW when comparing the number of sales per suburb.
With the median price for a house in Narwee being $568750 and the advertised rent reaching $420 the gross rental yield for property investors calculates out to be 3.84%
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%.