Lake Heights

POSTAL CODE: NSW, 2502

HOUSE

UNIT

Based on its average 5-year and quarterly capital gains, the suburb saw average growth in the long term.

The suburb also delivered a weaker performance in contrast to other Australian suburbs in terms of appreciation of property value. Investors saw the median home price rise to $933,550.

The upward trend in home prices in LAKE HEIGHTS, 2502 averaged 3.71% per annum over a 3-year period.

Average weekly rents on listings have reached the $680 mark, reflecting a 3.79% increase in returns based on the current median price in LAKE HEIGHTS.

An average of 5.75 real estate transactions take place per month in LAKE HEIGHTS which translates to 69 per annum.

69 properties were sold in LAKE HEIGHTS in 2016, making it the 181st most active market in NSW based on total real estate transactions.

LAKE HEIGHTS, 2502 places 509th in Australia based on median property value growth during the quarter.

The suburb 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 $810,000.

Average median unit prices in NSW have risen as a whole, pulling LAKE HEIGHTS, 2502 values up and netting property investors a capital gain of 1.57% for the past year.

Investors saw the median home price rise to $810,000.

The upward trend in home prices in LAKE HEIGHTS, 2502 averaged 0% per annum over a 3-year period.

LAKE HEIGHTS now ranks at the 519th 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 LAKE HEIGHTS are low, as opposed to average gains per annum over the past five years.

Real estate investors could earn a rental income of $565 based on current median home prices for the suburb.

It is expected for properties to spend some time on the market prior to a successful sale. In LAKE HEIGHTS, homes and units usually stay on listing for an average of N/A.

17 properties were sold in LAKE HEIGHTS in 2016, making it the 446th most active market in NSW based on total real estate transactions.

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Data report can be found below

Key Property Date Report	HOUSE	UNIT
Median Price	$933,550	$810,000
Growth Report
Median Quarterly	2.03%	-4.51%
Median 12 month	7.3%	1.57%
Median 3 years	11.14%	0%
Median 5 years	49.37%	41.48%
10 years average annual	7.38%	10.17%
Weekly media advert. rent	$680	$565
Time on Market	42.1 days	N/A
Gross Rental Yield Percent	3.79%	3.63%

Demographics (Median Values)*

Total Population 12438

Weekly Household Income 918

Household Size 2.60

Average Age 40

Monthly Loan Repayment 1602

* Australian Bureau of Statistics (May 2021) 2016 Census DataPacks[https://datapacks.censusdata.abs.gov.au/datapacks/],ABS Website, accessed 2016.

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