If you compare the increase in value of investment property in Fairfield, 2165 to the rest of Australia, it performed somewhat poorly. The median increase in value, or capital gain property investors experienced for this NSW suburb was -4.08%.
If we look at median property appreciation over just the last three months, Fairfield has given property investors a paper return of 0.71%. This puts Suburb as 737 on a list of fastest fasting appreciating suburbs in NSW
Fairfield2165 is located in NSW which offers an average discount of -6.70% to property investors. Fairfield itself is showing figures that indicate -8.79% is the average achievable by property buyers investing in the suburb.
Advertised rents are around the $450 mark per week – giving a return of 3.32% based on the median price in Suburb
NSW has seen average median house prices change by -0.92% which means that Fairfield, 2165 has not done well for property investors by showing a capital gain of -8.24% over the last year
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.
Our latest figures would indicate that property sellers in Fairfield are currently offering property investors an average price cut of -9.70% below the asking price at the moment.
Residents and property investors in Fairfield have been waiting around 81.1594 days to sell a property.
Using the current median advertised rental of $365 and the average annual increase in value of a median property of 5.49%, investors should hope to achieve an overall return of 4.87%
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Affordability is the issue du jour for many buyers in Sydney at present, and Fairfield scores well on this front.
“Fairfield is experiencing strong demand for housing as people leave Sydney city and inner city areas due to high rents and take advantage of the area’s affordable property prices,” says Century 21 founder and chairman Charles Tarbey. “There are also excellent investment opportunities in Fairfield, with the suburb seeing significant rental growth in a strong rental market.”
Population growth for this part of Sydney bears out Tarbey’s predictions. The ABS charted the population in the Fairfield local government area as growing by more than 7,000 between 2005 and 2009 – an increase of 4%.
Such population growth has contributed to Fairfield's tight rental market – the suburb's vacancy rate has remained below 2% for the last five years, according to SQM Research figures. Units, in particular, combine affordability with solid rental yields to head towards cash flow positive territory.
Accessibility is good, too; there are direct rail links to Parramatta and Liverpool, and trains to the CBD can be caught from nearby Canley Vale. The major arterial roads of the South Western Motorway, the M7 and the M4 are also within easy reach. The suburb is well served for amenities, with a wide range of cafes, restaurants and shops being found in and around the Fairfield forum. Parramatta and Liverpool's major shopping centres are only a short journey away.
What about capital growth? Fairfield's 12-month growth figures for both houses and units significantly outperform average annual growth over the past 10 years, which may indicate that this is a suburb whose property prices are on the up.