Lakemba on the rise?

Had a look at a couple of 2 bedroom apartments over the weekend in Lakemba.
Seems that the going rates are around the 310 - 335K bracket with a rental return of $330 - 380 / week.
Wonder if anybody has some additional information on Lakemba or has bought lately there?

Thanks

Ping
 
However, prices do appear to have risen

Lakemba units CG have performed well - see attached chart.
From a base of approx $175K in 2007 to closer to $275K in 2013. Slow and steady growth of $100K for anyone who was game enough to buy when all the pre, mid, post GFC doom and gloom merchants were predicting the EOTWAWKI! :rolleyes:
 

Attachments

  • LakembaUnitCG.jpg
    LakembaUnitCG.jpg
    50.2 KB · Views: 77
Good to see.

An added bonus is that you can extract all the leaded bullets out of the walls and start your own fishing tackle business :)
 
Can't really answer your question Ping but I was having a bit of a look there and also in neighbouring Campsie and Belmore. It seems at the moment there is a fair few more units for sale and rent in Lakemba than the other suburbs I mentioned (not quite sure why, could anyone suggest why). I am considering these suburbs because they are pretty much the closest to the city and on a train line I can get for my budget (apart from studios).
 
Top