NSW has seen average median house prices change by 2.31% which means that Mayfield, 2304 has done well for property investors by showing a capital gain of 7.72% over the last year
Comparing Mayfield,2304 ‘s 5year and quarterly average capital gain offered to property investors, it performed less well across the longer period
The most recent median price for Mayfield is $600000, with sellers offering an average of -5.49% off the asking price.
Often selling an investment property can take time, and in Mayfield the average time real estate has been on the market is 45.09 days.
The NSW suburb of Mayfield, 2304 is in the Newcastle (C) local government area.
Property investors who have had real estate in Mayfield, 2304 should be relatively unhappy with this NSW suburb’s performance compared to the rest of the country. Over the last year it has seen median house prices decrease in value by -3.68%
Mayfield,2304 was ranked 1465 in Australia by increase in median property value over the quarter.
State is the 5th most discounted Australian state or territory in this month’s figures with an average Vendor Discount of -5.90% offered to property buyers. Sellers in Mayfield itself are offering an average vendor discount of -6.84% to real estate investors.
On average over the past year, suburb has had 2.50 sales per month, which equates to 30 per year.
Mayfield, 2304’s gross rental yield is 4.15%
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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.
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