Suburb Profile Report for Mayfield NSW (2304)

Mayfield House: Median price $600,000, Annual capital growth 7.92%, Number of sales 219, Weekly median advertised rent $430

Mayfield Unit: Median price $470,000, Annual capital growth 7.24%, Number of sales 29, Weekly median advertised rent $360

  • House
  • Unit
Source: CoreLogic RP Data
  • Median price
  • Number of sales
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Mayfield has had a pretty good year for property investment returns compared to the rest of NSW, giving investors a capital gain of 5.91% to date .

A 61.59% growth in median value for property investors in Mayfield,2304 puts this suburb at number 878th in terms of best performing suburbs in NSW

Sellers are offering property buyers an average discount of -6.65% to buyers in Mayfield at the moment, which is less than average for the rest of NSW.

Advertised rents are around the $420 mark per week – giving a return of 3.64% based on the median price in Suburb

Mayfield, 2304 ranked 501th in NSW when comparing growth in median property values or capital gain over the last 12 months. Mayfield is one of 3163 in our list for NSW

Over the longer term, Mayfield has seen property prices show investors a 11.55% return over the last 3 years. This is worse than over the last 12 months

At number 176th of NSW’s most discounted properties, Mayfield is in the bottom 40% of the state/territory when listing in order of most discounted to least.

A $360 per week rent on the median house gives suburb investors a gross yield of circa 4.40%, without taking into account capital value appreciation, which has been averaging out at 6.69%.

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January 2019

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A north western suburb of Newcastle, Mayfield – which was initially named after Ada May, a daughter of local landowner John Scholey – is located around 6km from the centre of townFull summary

Convenience boosts unit values

Postcode: 2304

Median unit price: $451,250

Three-year growth: 18.8%

Rental yield: 4.4%

A north western suburb of Newcastle, Mayfield – which was initially named after Ada May, a daughter of local landowner John Scholey – is located around 6km from the centre of town. Property prices have increased on the back of a growing village atmosphere that has seen coffee shops, restaurants and shops proliferate.

With a train station, parks and shops and other amenities all located within a couple of minutes walking distance, and the beach around 15 minutes drive away, local residents have access to everything they need. Townhouses and units are affordably priced, with stock ranging from established, period-style townhomes through to more modern duplexes.

Landlords could expect a rental return of around $330-$350 per week for an older style apartment, through to $500-plus for more modern dwellings, so the opportunity for a strong return abounds.

Close
Metrics i HOUSE UNIT
$600,000 $470,000
0.00% 4.16%
5.26% 0.00%
7.92% 7.24%
$430 $360
219 29
3.73% 3.98%
34.17094 46.22222

Source: CoreLogic

Disclaimer: The data presented here is the latest available data at the time of upload each month. Please note that data is routinely updated by our partners, so may change month to month.

DSR Score for property investment : Very good (H), Good (U)
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Demographics
Total population 9070
Median household income ($/weekly) 979
Median age of persons 37
Median housing loan repayment ($/monthly) 1733
Average household size 2.2
  • Census Count Percent(%)
    5-14 years 826 9.1
    25-34 years 1583 17.5
    35-44 years 1292 14.2
    45-54 years 1254 13.8
    55-64 years 974 10.7
    Others 3141 34.6
    Age Group
    Census Count Percent(%)
    Not Married 3486 52.3
    Registered Married 2226 33.4
    Defacto Relationship 951 14.3
    Social Marital Status
  • Census Count Percent(%)
    Australia 7249 85.4
    Papua New Guinea 151 1.8
    Philippines 71 0.8
    United Kingdom 236 2.8
    Other 273 3.2
    Others 507 6.0
    Country of Birth
    Census Count Percent(%)
    Buddhism 141 1.7
    Christianity 5681 69.3
    Islam 79 1.0
    Other Religious Groups 55 0.7
    No Religion 2188 26.7
    Others 54 0.7
    Religious Affiliation
  • Census Count Percent(%)
    $300-$399 384 11.4
    $400-$599 385 11.4
    $600-$799 372 11.0
    $1,000-$1,249 331 9.8
    $1,500-$1,999 450 13.3
    Others 1459 43.2
    Gross Household Income (Weekly)
    Census Count Percent(%)
    Not in the labour force 2708 37.7
    Employed, worked full-time 2542 35.4
    Employed, worked part-time 1327 18.5
    Unemployed, looking for work 358 5.0
    Employed, away from work 254 3.5
    Person Characteristics
  • Census Count Percent(%)
    Professionals 900 21.8
    Technicians & trades workers 596 14.5
    Community & personal service workers 468 11.4
    Clerical & administrative workers 556 13.5
    Labourers 487 11.8
    Others 1114 27.0
    Occupation
    Census Count Percent(%)
    Pre-school 146 7.4
    Infants/Primary 551 28.1
    Secondary 367 18.7
    Technical or Further Educational Institution 294 15.0
    University or other Tertiary Institutions 548 27.9
    Others 56 2.9
    Type of Educational Institution Attending
  • Census Count Percent(%)
    Separate house 7033 86.2
    Semi-detached, row or terrace house, townhouse 628 7.7
    Flat, unit or apartment 457 5.6
    House or flat attached to a shop, office 35 0.4
    Caravan, cabin, houseboat 3 0.0
    Others 0 0.0
    Dwelling Structure
    Census Count Percent(%)
    Rented 1435 39.5
    Being purchased 1251 34.5
    Fully owned 921 25.4
    Other tenure type 22 0.6
    Tenure Type
Census 2011, ABS
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