At number 2858th in the list of Australian suburbs ordered by increase in median house value over the last year, Fairfield, 2165 is in the BOTTOM 40% with a property value increase of 1.36% recorded in median house prices.
While Fairfield,2165 ranked number 638th in NSW for increase in median house value (annualised) increase, it is ranked 306th over the last 5 years.
The most recent median price for Fairfield is $745000, with sellers offering an average of -5.49% off the asking price.
NSW has seen average median house prices change by 6.96% which means that Fairfield, 2165 has done well for property investors by showing a capital gain of 0.24% over the last year
The five-year average increase in median property values for Fairfield,2165 has given property investors a potential capital gain of 53.15% across each of those five years.
The most recent median price for Fairfield is $425000, with sellers offering an average of -6.21% off the asking price.
Fairfield is 106th on a list of best yielding suburbs for rents in NSW with a 4.89% return
Affordability is the issue du jour for many buyers in Sydney at present, and Fairfield scores well on this front. Full summary
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Affordability is the issue du jour for many buyers in Sydney at present, and Fairfield scores well on this front.
“Fairfield is experiencing strong demand for housing as people leave Sydney city and inner city areas due to high rents and take advantage of the area’s affordable property prices,” says Century 21 founder and chairman Charles Tarbey. “There are also excellent investment opportunities in Fairfield, with the suburb seeing significant rental growth in a strong rental market.”
Population growth for this part of Sydney bears out Tarbey’s predictions. The ABS charted the population in the Fairfield local government area as growing by more than 7,000 between 2005 and 2009 – an increase of 4%.
Such population growth has contributed to Fairfield's tight rental market – the suburb's vacancy rate has remained below 2% for the last five years, according to SQM Research figures. Units, in particular, combine affordability with solid rental yields to head towards cash flow positive territory.
Accessibility is good, too; there are direct rail links to Parramatta and Liverpool, and trains to the CBD can be caught from nearby Canley Vale. The major arterial roads of the South Western Motorway, the M7 and the M4 are also within easy reach. The suburb is well served for amenities, with a wide range of cafes, restaurants and shops being found in and around the Fairfield forum. Parramatta and Liverpool's major shopping centres are only a short journey away.
What about capital growth? Fairfield's 12-month growth figures for both houses and units significantly outperform average annual growth over the past 10 years, which may indicate that this is a suburb whose property prices are on the up.