Suburb Profile Report for Fairfield VIC (3078)

Fairfield House: Median price $1,330,000, Annual capital growth 10.03%, Number of sales 51, Weekly median advertised rent $593

Fairfield Unit: Median price $575,000, Annual capital growth 9.00%, Number of sales 46, Weekly median advertised rent $315

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

Source: CoreLogic

  • House Report
  • Unit Report
  • Expert Report

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%

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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
$1,330,000 $575,000
5.51% 0.00%
19.15% 22.34%
10.03% 9.00%
$593 $315
51 46
2.32% 2.85%
63.77 55.05

Source: CoreLogic

DSR Score for property investment : Balanced (H), Above average (U)
Find a mortgage broker in Fairfield VIC
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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