Giving property investors a a solid capital gain of 19.54% for the last year, Fairfield, 3078 is the 267th highest performer in Australia in this respect.
Comparing Fairfield,3078 ‘s 5year and quarterly average capital gain offered to property investors, it performed less well across the longer period
State is the 6th most discounted Australian state or territory in this month’s figures with an average Vendor Discount of -6.00% offered to property buyers. Sellers in Fairfield itself are offering an average vendor discount of -3.71% to real estate investors.
Advertised rents are around the $550 mark per week – giving a return of 2.19% based on the median price in Suburb
At number 113th in the list of Australian suburbs ordered by increase in median house value over the last year, Fairfield, 3078 is in the top 10% with a property value increase of 19.47% recorded in median house prices.
If we look at median property appreciation over just the last three months, Fairfield has given property investors a paper return of -6.42%. This puts Suburb as 350 on a list of fastest fasting appreciating suburbs in VIC
When looking to buy, or assessing what properties are really achieving at sale, it's essential for property investors to take into account what discounts are being offered in Fairfield, 3078. Typically our figures indicate that -4.65% is being offered, which puts this VIC suburb at 891th most discounted overall in Australia.
A $310 per week rent on the median house gives suburb investors a gross yield of circa 2.87%, without taking into account capital value appreciation, which has been averaging out at 8.79%.
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.