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 22.77%
The five-year average increase in median property values for Fairfield,3078 has given property investors a potential capital gain of 74.71% across each of those five years.
Our latest figures would indicate that property sellers in Fairfield are currently offering property investors an average price cut of -3.71% below the asking price at the moment.
With a capital gain of 14.62% for the last 12 months, Fairfield, 3078 has performed for property investments than its average annual 8.39% property growth over the last 5 years.
Across a shorter period, Fairfield, 3078 has seen a median price increase of 0.00% over the last quarter.
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 -4.77% is being offered, which puts this VIC suburb at 851th most discounted overall in Australia.
Situated 5.50km from the CBD, Fairfield is one of Yarra localities in the postcode 3078.
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.