Suburb Profile Report for Mayfield NSW (2304)

Mayfield House: Median price $558,000, Annual capital growth 7.11%, Number of sales 166, Weekly median advertised rent $430

Mayfield Unit: Median price $428,000, Annual capital growth 5.92%, Number of sales 19, Weekly median advertised rent $385

  • House
  • Unit
Source: CoreLogic RP Data
  • Median price
  • Number of sales
TOP 100 suburbs

Source: Monthly data update for Nov 2019 as supplied by CoreLogic. Data is reported to the period ending Aug 2019. Please note that property sales data is routinely updated, so may change retrospectively.

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Property value increases in Mayfield have tracked just lower than the NSW average of -4.21% over the last 12 months.

While Mayfield,2304 ranked number 886th in NSW for increase in median house value (annualised) increase, it is ranked 390th over the last 5 years.

LACK OF BUYER INTEREST may well be the reason that Mayfield is offering property investors an average of -7.38. This rate of discount on properties puts Suburb at number 434th in terms of most discounted suburbs in NSW

Mayfield has had a very poor year for property investment returns compared to the rest of NSW, giving investors a capital gain of -11.84% to date .

A 38.06% growth in median value for property investors in Mayfield,2304 puts this suburb at number 97th in terms of best performing suburbs in NSW

Often selling an investment property can take time, and in Mayfield the average time real estate has been on the market is 51.8235 days.

A $385 per week rent on the median house gives suburb investors a gross yield of circa 4.68%, without taking into account capital value appreciation, which has been averaging out at 5.92%.

Information supplied by:


January 2019

M
O

W
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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.

Metrics i HOUSE UNIT
$558,000 $428,000
-2.45% 2.09%
-8.03% -11.84%
7.11% 5.92%
$430 $385
166 19
4.01% 4.68%
69.198275862069 51.8235294117647

Source: Monthly data update for Nov 2019 as supplied by CoreLogic. Data is reported to the period ending Aug 2019. Please note that property sales data is routinely updated, so may change retrospectively.

DSR Score for property investment : Good (H), Above average (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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