Suburb Profile Report for Fairfield VIC (3078)

Fairfield House: Median price $1,390,000, Annual capital growth 9.15%, Number of sales 47, Weekly median advertised rent $580

Fairfield Unit: Median price $484,750, Annual capital growth 7.39%, Number of sales 43, Weekly median advertised rent $310

  • House
  • Unit
Source: CoreLogic RP Data
  • Median price
  • Number of sales

Source: CoreLogic

  • House Report
  • Unit Report
  • Expert Report

Property investors who have had real estate in Fairfield, 3078 should be pleased with this VIC suburb’s performance compared to the rest of the country. Over the last year it has seen median house prices increase in value by 15.35%

Fairfield,3078 was ranked 955 in Australia by increase in median property value over the quarter.

Fairfield, 3078 is offering VIC ‘s 489th most discounted properties when looking at the average discount being offered by vendors. This puts it in the bottom 30% of discounts offered by this VIC.

Fairfield is 544th on a list of best yielding suburbs for rents in VIC with a 2.17% return

VIC has seen average median house prices change by 4.83% which means that Fairfield, 3078 has done well for property investors by showing a capital gain of -14.96% over the last year

Comparing Fairfield,3078 ‘s 5year and quarterly average capital gain offered to property investors, it performed less well across the longer period

State is the 6th most discounted Australian state or territory in this month’s figures with an average Vendor Discount of -4.95% offered to property buyers. Sellers in Fairfield itself are offering an average vendor discount of -4.77% to real estate investors.

Often selling an investment property can take time, and in Fairfield the average time real estate has been on the market is 65.08 days.

A $310 per week rent on the median house gives suburb investors a gross yield of circa 3.33%, without taking into account capital value appreciation, which has been averaging out at 7.39%.

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Fairfield is just 6km northeast of the Melbourne CBD. The suburb is well-served for transport links, with rail links to the city, as well as the Heidelberg Road and the Eastern Freeway providing road access. Full summary

Fairfield is just 6km northeast of the Melbourne CBD. The suburb is well-served for transport links, with rail links to the city, as well as the Heidelberg Road and the Eastern Freeway providing road access.

There are a range of eateries and shops along the suburb’s main drag of Station Street. There are two primary schools in the suburb as well as a TAFE campus, and the Thomas Embling Hospital is situated in Fairfield Park.

The median house price for the area is over $800,000 according to RP Data, but three-bedroom houses and properties in need of renovation are significantly more affordable.

Close
Metrics i HOUSE UNIT
$1,390,000 $484,750
4.51% -11.06%
15.35% -14.96%
9.15% 7.39%
$580 $310
47 43
2.17% 3.33%
65.27 65.08

Source: CoreLogic

DSR Score for property investment : Above average (U), Balanced (H)
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Demographics
Total population 5946
Median household income ($/weekly) 1407
Median age of persons 36
Median housing loan repayment ($/monthly) 2000
Average household size 2.3
  • Census Count Percent(%)
    5-14 years 559 9.4
    25-34 years 1191 20.0
    35-44 years 1082 18.2
    45-54 years 805 13.5
    55-64 years 541 9.1
    Others 1768 29.7
    Age Group
    Census Count Percent(%)
    Not Married 2028 45.6
    Registered Married 1857 41.8
    Defacto Relationship 562 12.6
    Social Marital Status
  • Census Count Percent(%)
    Australia 4053 71.8
    Hong Kong 227 4.0
    Japan 191 3.4
    United Kingdom 218 3.9
    Other 226 4.0
    Others 726 12.9
    Country of Birth
    Census Count Percent(%)
    Buddhism 128 2.4
    Christianity 2875 53.5
    Hinduism 109 2.0
    Islam 66 1.2
    No Religion 2118 39.4
    Others 75 1.4
    Religious Affiliation
  • Census Count Percent(%)
    $400-$599 188 8.6
    $1,000-$1,249 196 9.0
    $1,500-$1,999 275 12.6
    $2,000-$2,499 185 8.5
    $2,500-$2,999 219 10.1
    Others 1116 51.2
    Gross Household Income (Weekly)
    Census Count Percent(%)
    Employed, worked full-time 2032 42.8
    Not in the labour force 1361 28.7
    Employed, worked part-time 1025 21.6
    Employed, away from work 167 3.5
    Unemployed, looking for work 159 3.4
    Person Characteristics
  • Census Count Percent(%)
    Managers 447 13.9
    Professionals 1177 36.5
    Technicians & trades workers 331 10.3
    Community & personal service workers 275 8.5
    Clerical & administrative workers 458 14.2
    Others 536 16.6
    Occupation
    Census Count Percent(%)
    Pre-school 114 7.9
    Infants/Primary 387 26.9
    Secondary 274 19.1
    Technical or Further Educational Institution 192 13.4
    University or other Tertiary Institutions 409 28.4
    Others 62 4.3
    Type of Educational Institution Attending
  • Census Count Percent(%)
    Separate house 3508 64.8
    Flat, unit or apartment 1310 24.2
    Semi-detached, row or terrace house, townhouse 549 10.1
    House or flat attached to a shop, office 46 0.8
    Caravan, cabin, houseboat 0 0.0
    Others 0 0.0
    Dwelling Structure
    Census Count Percent(%)
    Rented 927 39.7
    Fully owned 704 30.1
    Being purchased 695 29.7
    Other tenure type 11 0.5
    Tenure Type
Census 2011, ABS
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