Located in New South Wales within the Canterbury-Bankstown local government area, Lakemba is a settled mid-to-large suburb (postcode 2195). It is home to about 17,092 residents, with a blend of families and working-age professionals and a median age of 32. Households earn a median income of $64K per year, with an average household size of 3.1 people. Recent annual estimates show population movement staying broadly stable across the broader catchment, with population growth running at +1.0% year-on-year at the LGA level. NSW employment has moved +0.3% year-on-year in the official Jobs and Skills Australia NERO series, which provides the broader jobs backdrop for this suburb. NSW also had 37 Commonwealth-backed major projects under construction, 5 underway, and 75 in planning as at 2 October 2024, which is useful as a broader delivery backdrop rather than a suburb-specific project count. The most common occupations are professionals, labourers, community & personal service. Employment in the area leans toward retail trade and healthcare. The top ancestries reported are Indian, Australian, English.
Median house prices in Lakemba sit at $1.5 million, little changed on a year ago. Units have a median price of $517,000 (+1.4% YoY). The current median weekly rent is $530. This gives a gross rental yield of approximately 1.8%. The median monthly mortgage repayment is $1,712.
Lakemba is served by 7 schools, including 4 primary, 1 secondary, 1 combined, 1 special. The average ICSEA score is 1000, which is around the national average of 1,000. Public transport access includes 1 rail station, 54 bus stops. The crime rate in the Canterbury-Bankstown LGA is below average at 2,382 incidents per 100,000 population.
Looking at the investment signals, The gross rental yield works out to roughly 1.8%, which reads as low yield. Property prices are near the state median ($1.5M/$1.5M). The price-to-income ratio of 23.5x is considered stretched. House prices have moved +0.0% year-on-year. Population growth of +1.0% year-on-year points to stable demand fundamentals. Building approvals have changed +0% year-on-year, indicating steady development activity.