Property News You Need To Know: The Week Ending 19 September
Smart Property Investment is pleased to present a weekly round-up of the biggest stories across property, investment, re...
Based on its average 5-year and quarterly capital gains MERRYLANDS, 2160 saw average growth in the long term.
A survey of average capital gains or median home price increase in suburbs across the country shows that MERRYLANDS, 2160 obtained a 7.39% growth over a ten-year period. It ranks 1210th on our list of suburbs that property investors should look into.
MERRYLANDS, 2160 in NSW belongs to the local government area of Cumberland (A).
MERRYLANDS, 2160 has a capital gain of 11.17% for the past year, which is higher than average compared to its 11.96% growth within a five-year period.
With the median home price in MERRYLANDS sitting at $940,495, and the average rent at $460, property owners could potentially earn a 2.54% increase in gross rental yield.
Figures from the previous quarter show that capital gains for real estate buyers in MERRYLANDS are high, as opposed to average gains per annum over the past five years.
Sixth on Starr Partners’ list of top Sydney suburbs to watch this year, Merrylands is a melting pot located 25 kilometres west of Sydney’s central business district. The residents of Merrylands are a culturally diverse set, with a large migrant base hailing from Lebanon, China, India, Afghanistan and the Philippines. This explains Merrylands’ reputation as a culinary haven, especially among those with adventurous taste buds. Take a stroll near the train station to find out — restaurants serving Middle Eastern delights are right across the road from the station, and so are Chinese, Thai and African food haunts, where you can satisfy your cravings.
Merrylands real estate is comprised of a hodgepodge of shops and amenities catering to its 20,893-strong population. It has ample open spaces and recreational areas for family picnics and leisure walks, including the Merrylands Park, Central Gardens, and Granville Park. The suburb also features sports facilities, such as the Ted Burge Sportsground and the Merrylands Swimming Centre.
Real estate developments
The investment climate in Merrylands is getting warmer as properties in the area become more in demand. The median price for houses sold in Merrylands in the past 10 years has increased by 8.27 per cent; meanwhile, the gross rental yield for homes during the the past 12 months has climbed by 3.1 per cent. Accounting for this tremendous growth are the Cumberland Council’s approval of Stockland’s proposed development next to the Merrylands Shopping Centre, and the recent million-dollar sales of apartment blocks and houses in potential development sites.
|KEY PROPERTY DATA REPORT||HOUSE||UNIT|
|Median 12 month||11.17%||-6.41%|
|Median 3 years||4.5%||-12.38%|
|Median 5 years||11.96%||-16.06%|
|10 years average annual||7.39%||4.44%|
|Weekly media advert. rent||$460||$380|
|Time on Market||58.8 days||65.1 days|
|Gross Rental Yield Percent||2.54%||4.3%|