Suburb Profile Report for Mayfield NSW (2304)

Mayfield House: Median price $585,000, Annual capital growth 6.09%, Number of sales 188, Weekly median advertised rent $430

Mayfield Unit: Median price $450,000, Annual capital growth 5.98%, Number of sales 20, Weekly median advertised rent $385

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

Source: Monthly data update for Jan 2021 as supplied by CoreLogic. Data is reported to the period ending Oct 2020. Please note that property sales data is routinely updated, so may change retrospectively.

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NSW has seen average median house prices change by 7.77% which means that Mayfield, 2304 has done well for property investors by showing a capital gain of 5.79% over the last year

Mayfield,2304 was ranked 1298 in Australia by increase in median property value over the quarter.

At number 547th of NSW’s most discounted properties, Mayfield is in the TOP 30% of the state/territory when listing in order of most discounted to least.

At number 275 in a list of fastest selling suburbs, Mayfield is in the TOP 10% of suburbs in Australia with an average of days on market 37.7398 for properties listed there.

Mayfield, 2304’s gross rental yield is 3.82%

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 -2.17%

The five-year average increase in median property values for Mayfield,2304 has given property investors a potential capital gain of 18.42% across each of those five years.

At number 731 in a list of fastest selling suburbs, Mayfield is just in the bottom half of suburbs in Australia with an average of days on market 72.5714 for properties listed there.

Using the current median advertised rental of $385 and the average annual increase in value of a median property of 5.98%, investors should hope to achieve an overall return of 4.45%

Information supplied by:


January 2019

M
O

W
E

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
$585,000 $450,000
3.54% 0.00%
5.79% -2.17%
6.09% 5.98%
$430 $385
188 20
3.82% 4.45%
37.739837398374 72.5714285714286

Source: Monthly data update for Jan 2021 as supplied by CoreLogic. Data is reported to the period ending Oct 2020. Please note that property sales data is routinely updated, so may change retrospectively.

DSR Score for property investment : Very good (H), Good (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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