With a capital gain of -9.76% for the last 12 months, Fairfield, 2165 has performed for property investments than its average annual 8.79% property growth over the last 5 years.
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.
The most recent median price for Fairfield is $740000, with sellers offering an average of -7.57% off the asking price.
With the median price for a house in Fairfield being $740000 and the advertised rent reaching $470 the gross rental yield for property investors calculates out to be 3.30%
Giving property investors a an average capital gain of 1.20% for the last year, Fairfield, 2165 is the 712th highest performer in Australia in this respect.
A 38.44% growth in median value for property investors in Fairfield,2165 puts this suburb at number 192th in terms of best performing suburbs in NSW
Sellers are offering property buyers an average discount of -7.05% to buyers in Fairfield at the moment, which is less than average for the rest of NSW.
Often selling an investment property can take time, and in Fairfield the average time real estate has been on the market is 66.05 days.
Fairfield is 115th on a list of best yielding suburbs for rents in NSW with a 4.65% return
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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.