Giving property investors a an unimpressive capital gain of -7.67% for the last year, Mayfield, 2304 is the 3166th highest performer in Australia in this respect.
Over the longer term, Mayfield has seen property prices show investors a 17.37% return over the last 3 years. This is worse than over the last 12 months
When looking to buy, or assessing what properties are really achieving at sale, it's essential for property investors to take into account what discounts are being offered in Mayfield, 2304. Typically our figures indicate that -8.05% is being offered, which puts this NSW suburb at 851th most discounted overall in Australia.
Residents and property investors in Mayfield have been waiting around 73.2162 days to sell a property.
Mayfield is 430th on a list of best yielding suburbs for rents in NSW with a 4.04% return
Property investors who have had real estate in Mayfield, 2304 should be relatively pleased with this NSW suburb’s performance compared to the rest of the country. Over the last year it has seen median house prices increase in value by 1.66%
Over the longer term, Mayfield has seen property prices show investors a 20.42% return over the last 3 years. This is worse than over the last 12 months
Situated 118.64km from the CBD, Mayfield is one of Newcastle (C) localities in the postcode 2304.
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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.