At number 682th in the list of Australian suburbs ordered by increase in median house value over the last year, Fairfield, 3078 is in the top 20% with a property value increase of 16.90% recorded in median house prices.
LACK OF BUYER INTEREST may well be the reason that Fairfield is offering property investors an average of -5.26. This rate of discount on properties puts Suburb at number 620th in terms of most discounted suburbs in VIC
Often selling an investment property can take time, and in Fairfield the average time real estate has been on the market is 51.41 days.
Property investors who have had real estate in Fairfield, 3078 should be unhappy with this VIC suburb’s performance compared to the rest of the country. Over the last year it has seen median house prices decrease in value by -22.18%
Data for the last quarter indicates that, in the short term at least, the capital value growth rate for property investors in Fairfield has increased when compared to the 5 year average annual rate.
At number 73th of VIC’s most discounted properties, Fairfield is in the bottom 30% of the state/territory when listing in order of most discounted to least.
Residents and property investors in Fairfield have been waiting around 70.77 days to sell a property.
Advertised rents are around the $310 mark per week – giving a return of 3.71% based on the median price in Suburb
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.