BLACKTOWN, 2148 delivered a stronger performance in contrast to other Australian suburbs in terms of appreciation of property value.
Average median house prices in NSW have risen as a whole, pulling BLACKTOWN, 2148 values up and netting property investors a capital gain of 3.52% for the past year.
Investors saw the median home price rise to $735,000.
Profits due to an upward trend in home prices in the suburb averaged 8.91% per annum over a 3-year period.
BLACKTOWN now ranks at the 853rd place on a list of fastest growing suburbs in the territory.
Figures from the previous quarter show that capital gains for real estate buyers in BLACKTOWN are low, as opposed to average gains per annum over the past five years.
Because of this real estate investors could earn a rental income of $440 based on current median home prices.
Regardless, it is expected for properties to spend some time on the market prior to a successful sale. In BLACKTOWN, homes and units usually stay on listing for an average of 60.0 days.
In 2016, 432 properties were sold in BLACKTOWN during the past year, making it the 451st most active market in NSW based on total real estate transactions.
BLACKTOWN ranks 177th in NSW when it comes to estimated capital gains experienced by property investors over the past three years.
BLACKTOWN, 2148 has a capital gain of 6.49% for the past year, which is lower than average compared to its 71.88% growth within a five-year period.
With the median home price in BLACKTOWN sitting at $550,000, and the average rent at $410, property owners could potentially earn a 3.88% increase in gross rental yield.
Property investors have seen a 0.92% gain in BLACKTOWN based on an increase in median home prices for the past three months.
A survey of average capital gains or median home price increase in suburbs across the country shows that BLACKTOWN, 2148 obtained a 8.32% growth over a ten-year period. It ranks 113th on our list of suburbs that property investors should look into.
Like its namesake city, Blacktown is a fast-growing prime location for property hunters and investors who work or conduct business in the Greater Western Sydney area. Lying within 34 kilometres of Sydney’s central business district, the suburb of Blacktown is accessible by train, via the Cumberland Line and North Shore, Northern and Western Line; bus or private vehicle from various points in its neighboring districts.
Amenities in Blacktown
Blacktown’s commercial district houses a growing number of state-run and private schools, the Blacktown Hospital, and the Westpoint Blacktown, its major retail hub. Groundbreaking developments are in the works that could trickle down to the major suburb, as part of the Blacktown City Council’s ambitions to give the city a million-dollar facelift.
No wonder Blacktown is welcoming a housing boom, as buyers scoop up property investments in the wake of its rapid urbanisation. A typical home or unit up for sale is likely to stay on the market for 60 days, a relatively short time for Australian real estate sales. The median home selling price is up by over 80 per cent in the last five years, while unit prices have surged by close to 70 per cent. Blacktown, however, is deemed as one of the few remaining areas in the city where rental costs are generally affordable.