Suburb Profile Report for Fairfield VIC (3078)

Fairfield House: Median price $1,390,000, Annual capital growth 9.62%, Number of sales 52, Weekly median advertised rent $568

Fairfield Unit: Median price $527,500, Annual capital growth 8.01%, Number of sales 40, Weekly median advertised rent $320

  • 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 23.01%.

Over the longer term, Fairfield has seen property prices show investors a 54.44% return over the last 3 years. This is worse than over the last 12 months

Sellers are offering property buyers an average discount of -3.71% to buyers in Fairfield at the moment, which is less than average for the rest of VIC.

Residents and property investors in Fairfield have been waiting around 67.26 days to sell a property.

Using the current median advertised rental of $567.5 and the average annual increase in value of a median property of 9.62%, investors should hope to achieve an overall return of 2.12%

VIC has seen average median house prices change by 4.28% which means that Fairfield, 3078 has done well for property investors by showing a capital gain of -2.31% over the last year

Fairfield,3078 was ranked 1453 in Australia by increase in median property value over the quarter.

Fairfield, 3078 is offering VIC ‘s 157th most discounted properties when looking at the average discount being offered by vendors. This puts it in the middle of discounts offered by this VIC.

Using the current median advertised rental of $320 and the average annual increase in value of a median property of 8.01%, investors should hope to achieve an overall return of 3.15%

Information supplied by:




M
O

W
E
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
$1,390,000 $527,500
6.68% -3.48%
23.01% -2.31%
9.62% 8.01%
$568 $320
52 40
2.12% 3.15%
67.26 67.66

Source: CoreLogic

DSR Score for property investment : Above average (U), Above average (H)
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
Chart Table
Recent sales & rentals