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Property investors in HOMEBUSH WEST enjoyed capital gains of 0.31% over the last 12 months translating to lower returns compared with its peers in the territory.
Figures from the previous quarter show that capital gains for real estate buyers in HOMEBUSH WEST are high, as opposed to average gains per annum over the past five years.
HOMEBUSH WEST posted a 5.79% growth in median prices over a three-year period. This is considerably higher than the gains it recorded over the past year.
Real estate investors could earn a rental income of $670 based on current median home prices for the suburb.
Average weekly rents on listings have reached the $670 mark, reflecting a 5.44% increase in returns based on the current median price in HOMEBUSH WEST.
HOMEBUSH WEST, 2140 ranks 413th in NSW in terms of median property value increase and capital gains, based on year-to-date figures.
HOMEBUSH WEST ranks 61st on the list of best yielding suburbs for rental properties in NSW, posting a 5.44% return.
Homebush West, also known as Flemington, is a vibrant and diverse suburb located approximately 13 kilometres west of Sydney's central business district. Situated within the Municipality of Strathfield, it is renowned for its multicultural community, excellent transport links, and proximity to major commercial hubs.
As of the 2021 Census, Homebush West had a population of 9,108 residents. The suburb boasts a rich cultural tapestry, with significant communities from India (17.1%), China (12.5%), Nepal (12.2%), South Korea (3.4%), and the Philippines (2.7%). Approximately 24.4% of residents were born in Australia. Languages spoken at home include Mandarin (12.9%), Nepali (12.5%), Cantonese (7.4%), Telugu (6.2%), and Tamil (5.1%). Hinduism is the most common religion, practised by 30.3% of the population, followed by those identifying with no religion at 26.0%.
Homebush West is well-connected to Sydney's transport network. Flemington railway station serves the suburb, providing access to the T2 Inner West & Leppington and T3 Bankstown lines, facilitating convenient travel to the Sydney CBD and other areas. Additionally, several bus routes operate in the area, enhancing connectivity to surrounding suburbs.
The suburb offers a blend of residential and commercial areas, with a variety of shops, cafes, and restaurants, particularly along The Crescent and Parramatta Road. Homebush West is also home to the Sydney Markets, commonly known as Flemington Markets, which is a primary fresh produce market and a significant landmark in the area.
Educational institutions in and around Homebush West include Homebush West Public School, catering to the suburb's diverse population.
Homebush West offers a diverse range of housing options, including freestanding homes and low- to medium-rise apartment blocks. The area's strategic location and accessibility make it an attractive option for both residents and investors.
Homebush West stands out as a suburb that harmoniously blends cultural diversity with modern living, offering residents a unique and vibrant community experience.