Property investors who have had real estate in Fairfield, 3078 should be pleased with this VIC suburb’s performance compared to the rest of the country. Over the last year it has seen median house prices increase in value by 15.35%
Fairfield,3078 was ranked 955 in Australia by increase in median property value over the quarter.
Fairfield, 3078 is offering VIC ‘s 489th 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.
Fairfield is 544th on a list of best yielding suburbs for rents in VIC with a 2.17% return
VIC has seen average median house prices change by 4.83% which means that Fairfield, 3078 has done well for property investors by showing a capital gain of -14.96% over the last year
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 -4.95% offered to property buyers. Sellers in Fairfield itself are offering an average vendor discount of -4.77% to real estate investors.
Often selling an investment property can take time, and in Fairfield the average time real estate has been on the market is 65.08 days.
A $310 per week rent on the median house gives suburb investors a gross yield of circa 3.33%, without taking into account capital value appreciation, which has been averaging out at 7.39%.
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.