Property value increases in Fairfield have tracked higher than the VIC average of 8.06% over the last 12 months.
When looking at the potential capital gains offered to property investors over the last 3 years, Fairfield comes in at number 83th in VIC.
Property buyers and investors in Fairfield 3078 should be seeing an average reduction in asking price of around -6.72% . This means that Fairfield is holding prices well when compared to other suburbs in VIC.
Renters in Suburb are facing rents around $6600 per annum or $550 every week.
VIC has seen average median house prices change by 3.11% which means that Fairfield, 3078 has done well for property investors by showing a capital gain of 19.47% over the last year
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 177th of VIC’s most discounted properties, Fairfield is in the middle of the state/territory when listing in order of most discounted to least.
Situated 5.65km from the CBD, Fairfield is one of Yarra localities in the postcode 3078.
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.