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CANTERBURY, 2193 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 $1,265,000.

Profits due to an downward trend in home prices in the suburb averaged -3.16% per annum over a 3-year period.

CANTERBURY now ranks at the 1129th 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 CANTERBURY are high, as opposed to average gains per annum over the past five years.

Because of this real estate investors could earn a rental income of $580 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 CANTERBURY, homes and units usually stay on listing for an average of 84.4 days.

In 2016, 34 properties were sold in CANTERBURY during the past year, making it the 624th most active market in NSW based on total real estate transactions.

CANTERBURY ranks 267th in NSW when it comes to estimated capital gains experienced by property investors over the past three years.

CANTERBURY, 2193 has a capital gain of 5.37% for the past year, which is higher than average compared to its 2.5% growth within a five-year period.

With the median home price in CANTERBURY sitting at $676,500, and the average rent at $450, property owners could potentially earn a 3.46% increase in gross rental yield.

Property investors have seen a 3.68% gain in CANTERBURY 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 CANTERBURY, 2193 obtained a 5.33% growth over a ten-year period. It ranks 453rd on our list of suburbs that property investors should look into.

Surburb overview

Canterbury is a suburb located 10 kilometres of Sydney’s central business district. It belongs to the local government area of the City of Canterbury-Bankstown Council.

A suburb was born

The area was first inhabited by the Aborigines from the Bediagal clan, who spoke the Eora dialect of the Dharug language. White settlement began in the late 1700s, as a result of a British expedition.

The next century saw the establishment of Canterbury’s trade and commerce with the founding of the suburb’s first sugar mill. Soon the local economy expanded, and a tannery and boiling down facility were erected. The municipality of Canterbury followed as an offshoot of the thriving business environment and the swelling population.

Real estate environment

Times are changing in Canterbury, long ignored by home buyers who are hell bent in buying properties only in the inner west. Apartments have risen to be a favorite among young professionals and families purchasing units in the suburb. New developments are scattered across the suburb, including several multi-family properties in close proximity to the town centre. Houses for sale often include both contemporary and old homes. If you’re fortunate, you could chance upon a heritage home for a fraction of the cost.

The median home price in Canterbury is an estimated $1.3 million; a unit, on the other hand, costs $670,000. Rental prices have posted modest growth, reflecting an increase of 2.37 per cent for homes and 4.19 per cent for units.