Suburb Profile Report for Fairfield VIC (3078)

Fairfield House: Median price $1,435,000, Annual capital growth 9.04%, Number of sales 38, Weekly median advertised rent $590

Fairfield Unit: Median price $435,000, Annual capital growth 6.07%, Number of sales 49, Weekly median advertised rent $310

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

Source: CoreLogic

  • House Report
  • Unit Report
  • Expert Report

At number 682th in the list of Australian suburbs ordered by increase in median house value over the last year, Fairfield, 3078 is in the top 20% with a property value increase of 16.90% recorded in median house prices.

LACK OF BUYER INTEREST may well be the reason that Fairfield is offering property investors an average of -5.26. This rate of discount on properties puts Suburb at number 620th in terms of most discounted suburbs in VIC

Often selling an investment property can take time, and in Fairfield the average time real estate has been on the market is 51.41 days.

Property investors who have had real estate in Fairfield, 3078 should be unhappy with this VIC suburb’s performance compared to the rest of the country. Over the last year it has seen median house prices decrease in value by -22.18%

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 73th of VIC’s most discounted properties, Fairfield is in the bottom 30% of the state/territory when listing in order of most discounted to least.

Residents and property investors in Fairfield have been waiting around 70.77 days to sell a property.

Advertised rents are around the $310 mark per week – giving a return of 3.71% based on the median price in Suburb

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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
$1,435,000 $435,000
N/A -4.03%
16.90% -22.18%
9.04% 6.07%
$590 $310
38 49
2.14% 3.71%
51.41 70.77

Source: CoreLogic

DSR Score for property investment : Good (H), Good (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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