A 24.25% increase in median property prices in LEWISHAM, 2049 has allowed this suburb to join the ranks of best performing suburbs in NSW, settling at number 88th.
A steady increase in median property prices over a five-year period in the suburb translates to a 53.12% capital gain.
It also delivered a stronger performance in contrast to other Australian suburbs in terms of appreciation of property value.Investors saw the median home price rise to $1,652,500
The augmented property values in the suburb are trailing above the territorial average of 8.63% in 2016.
On the other hand, based on current median home prices for the suburb, Real estate investors could earn a rental income of $790.
Home owners selling their properties and realtors in LEWISHAM usually have to wait an average of 0.0 days days before their assets are lifted off the market.
The NSW suburb ranks 1000th on the list of best yielding suburbs for rental properties in NSW, posting a 2.49% return.
It also places places 1063rd in Australia based on median property value growth during the quarter.
A survey of average capital gains or median home price increase in suburbs across the country shows that LEWISHAM, 2049 obtained a 9.12% growth over a ten-year period. It ranks 37th on our list of suburbs that property investors should look into.
LEWISHAM, 2049 has a capital gain of -17.99% for the past year, which is lower than average compared to its 56.96% growth within a five-year period.
With the median home price in LEWISHAM sitting at $755,000, and the average rent at $520, property owners could potentially earn a 3.58% increase in gross rental yield.
Figures from the previous quarter show that capital gains for real estate buyers in LEWISHAM are low, as opposed to average gains per annum over the past five years.
LEWISHAM, 2049 in NSW belongs to the local government area of Marrickville.