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%.
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
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Convenience boosts unit values
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