Fairfield is in the TOP 10% in VIC when comparing median price capital growth over the last year. Fairfield gave property investors a very good capital gain figure when compared to the rest of the state, with 19.15%.
Fairfield,3078 was ranked 543 in Australia by increase in median property value over the quarter.
Fairfield, 3078 is offering VIC ‘s 526th most discounted properties when looking at the average discount being offered by vendors. This puts it in the bottom 20% of discounts offered by this VIC.
At number 1107 in a list of fastest selling suburbs, Fairfield is in the TOP 30% of suburbs in Australia with an average of days on market 63.77 for properties listed there.
Fairfield is 528th on a list of best yielding suburbs for rents in VIC with a 2.32% return
Over the last year, property investments in Fairfield, 3078 have given investors a capital gain of 22.34%. This compares very favourably with the 3.49% for VIC as a whole.
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.
Sellers are offering property buyers an average discount of -4.65% to buyers in Fairfield at the moment, which is less than average for the rest of VIC.
At number 314 in a list of fastest selling suburbs, Fairfield is in the TOP 30% of suburbs in Australia with an average of days on market 55.05 for properties listed there.
With the median price for a house in Fairfield being $575000 and the advertised rent reaching $315 the gross rental yield for property investors calculates out to be 2.85%
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.