Fairfield, 3078 ranked 18th in VIC when comparing growth in median property values or capital gain over the last 12 months. Fairfield is one of 2098 in our list for VIC
The five-year average increase in median property values for Fairfield,3078 has given property investors a potential capital gain of 54.92% across each of those five years.
Fairfield3078 is located in VIC which offers an average discount of -6.04% to property investors. Fairfield itself is showing figures that indicate -21.38% is the average achievable by property buyers investing in the suburb.
A $520 per week rent on the median house gives suburb investors a gross yield of circa 2.22%, without taking into account capital value appreciation, which has been averaging out at 9.72%.
With a capital gain of 21.15% for the last 12 months, Fairfield, 3078 has performed for property investments than its average annual 8.91% property growth over the last 5 years.
Over the longer term, Fairfield has seen property prices show investors a 39.76% return over the last 3 years. This is worse than over the last 12 months
Our latest figures would indicate that property sellers in Fairfield are currently offering property investors an average price cut of -0.83% below the asking price at the moment.
On average over the past year, suburb has had 3.83 sales per month, which equates to 46 per year.
Using the current median advertised rental of $310 and the average annual increase in value of a median property of 8.91%, investors should hope to achieve an overall return of 2.78%
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
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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.
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.