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API MARCH 2014
MARCH 2014 API
so you’d look to where they’d like to live
and that’s where the rental demand will
Joesph Mouwad, principal of Elders Real
Estate Bankstown, says the market has
moved significantly in the past 12 months.
“The dramatic movement in prices is
due to a very high demand and short
supply,” he says.
“This has also been fueled by low
interest rates like the rest of Sydney.
However, I believe the Canterbury-
Bankstown area has experienced a
from their parents into larger mansion-
style dwellings, but the Muslim and
Vietnamese buyers will stay in the same
area. They have an affinity due to culture
and religion that ties them to an area. The
positive for investors is that these people
are good, reliable tenants.
“They’ll pay higher rent because
they want to live within their
“They’re great tenants from an investor’s
perspective. I’d say migrants from Syria
might be expected in the next few years
asking for properties on listing sites
compared to the median sale price is six
per cent. That gives you an idea of where
prices are likely to head.
“Sellers are saying ‘we want this price’
and that’s six per cent higher than what
the houses are actually selling for. What
that’s telling us is this area has sellers
who expect to get more but it’s not
exorbitantly more, so growth will continue
at the same rate over the next year with
no dramatic rise in prices.”
A renewal program for 2014 is also set
to be rolled out, according to Bankstown
City Council, that will redevelop five key
sites to continue the reinvigoration of
This will follow the opening of the
Bankstown Library and Knowledge Centre
and the 300-seat Bryan Brown Theatre.
¿ RETURN ON INVESTMENT
Lindeman says investors benefit from
suburbs such as Auburn and Greenacre
because of the high rental yields.
“For an investor these areas have the
highest rental yields in Australia because
new arrivals head straight to these areas.
One of the key factors of growth in these
areas is to look where the migrants are
“If they come from Muslim countries
they’re more likely to live in one area than
they are in another so you can see where
the rental demand is going to increase.
That kind of knowledge helps investors,”
“The renters are overwhelmingly recent
migrant arrivals who are predominantly
families who want these types of three-
“What we’ve found is that the children
of Indian migrants will move away
John Potter has had a stellar career in real estate
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lessons along the way - some were harder to learn
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NSW | MOST AFFORDABLE 3-BED HOUSES, 12 MONTHS TO SEPT 2013
æSuddenly these areas become
full of sidewalk cafés and bring
in a whole new crowd.Æ John Lindeman
SPECIAL REPORT \\ THE STATES
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