Over the last year, property investments in Fairfield, 3078 have given investors a capital gain of 26.78%. This compares very favourably with the 8.23% for VIC as a whole.
Fairfield,3078 has offered an average of 26.78% return per annum in house price rises to property investors over the last three years.
Property buyers and investors in Fairfield 3078 should be seeing an average reduction in asking price of around -11.14% . This means that Fairfield is holding prices well when compared to other suburbs in VIC.
On average over the past year, suburb has had 5.58 sales per month, which equates to 67 per year.
Advertised rents are around the $530 mark per week – giving a return of 2.27% based on the median price in Suburb
If you compare the increase in value of investment property in Fairfield, 3078 to the rest of Australia, it performed very well. The median increase in value, or capital gain property investors experienced for this VIC suburb was 21.52%.
Fairfield,3078 was ranked 80 in Australia by increase in median property value over the quarter.
Fairfield, 3078 is offering VIC ‘s 256th most discounted properties when looking at the average discount being offered by vendors. This puts it in the bottom 30% of discounts offered by this VIC.
In the last year 64 properties changed hands in Fairfield, which puts it as the 141th most active market in VIC when comparing the number of sales per suburb.
Renters in Suburb are facing rents around $3840 per annum or $320 every week.
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.