With a capital gain of 8.83% for the last 12 months, Mayfield, 2304 has performed for property investments than its average annual 6.43% property growth over the last 5 years.
Over the longer term, Mayfield has seen property prices show investors a 6.15% return over the last 3 years. This is an improvement over the last 12 months
Property buyers and investors in Mayfield 2304 should be seeing an average reduction in asking price of around -3.86% . This means that Mayfield is holding prices well when compared to other 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 32.5969 days.
Property investors should expect to get $440 weekly from the median priced house in this suburb.
NSW has seen average median house prices change by 4.97% which means that Mayfield, 2304 has done well for property investors by showing a capital gain of -1.10% over the last year
A 18.42% growth in median value for property investors in Mayfield,2304 puts this suburb at number 297th 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 73.4444 days.
Advertised rents are around the $370 mark per week – giving a return of 4.28% based on the median price in Suburb
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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.