Fairfield has had a very poor year for property investment returns compared to the rest of NSW, giving investors a capital gain of 0.81% to date .
When looking at the potential capital gains offered to property investors over the last 3 years, Fairfield comes in at number 697th in NSW.
State is the 7th most discounted Australian state or territory in this month’s figures with an average Vendor Discount of -5.28% offered to property buyers. Sellers in Fairfield itself are offering an average vendor discount of -5.35% to real estate investors.
NSW has seen average median house prices change by 7.74% which means that Fairfield, 2165 has done well for property investors by showing a capital gain of 2.38% over the last year
Across a shorter period, Fairfield, 2165 has seen a median price increase of 2.26% over the last quarter.
Property buyers and investors in Fairfield 2165 should be seeing an average reduction in asking price of around -6.02% . This means that Fairfield is holding prices well when compared to other suburbs in NSW.
Advertised rents are around the $395 mark per week – giving a return of 4.78% based on the median price in Suburb
Affordability is the issue du jour for many buyers in Sydney at present, and Fairfield scores well on this front. Full summary
Information supplied by:
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.