Property value increases in Mayfield have tracked just higher than the NSW average of 7.93% over the last 12 months.
While Mayfield,2304 ranked number 250th in NSW for increase in median house value (annualised) increase, it is ranked 678th over the last 5 years.
State is the 7th most discounted Australian state or territory in this month’s figures with an average Vendor Discount of -5.55% offered to property buyers. Sellers in Mayfield itself are offering an average vendor discount of -5.04% to real estate investors.
Often selling an investment property can take time, and in Mayfield the average time real estate has been on the market is 46.31 days.
Using the current median advertised rental of $390 and the average annual increase in value of a median property of 6.29%, investors should hope to achieve an overall return of 4.31%
Investment property in Mayfield has done pretty poorly for investors when compared to the country as a whole over the last 12 months, with an increase in the median house price of -3.95%
While Mayfield,2304 ranked number 109th in NSW for increase in median house value (annualised) increase, it is ranked 335th over the last 5 years.
Property buyers and investors in Mayfield 2304 should be seeing an average reduction in asking price of around -5.33% . This means that Mayfield is holding prices well when compared to other suburbs in NSW.