NSW has seen average median house prices change by 0.15% which means that Mayfield, 2304 has done well for property investors by showing a capital gain of -6.09% over the last year
A 37.04% growth in median value for property investors in Mayfield,2304 puts this suburb at number 807th in terms of best performing suburbs in NSW
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 -7.43% is being offered, which puts this NSW suburb at 886th most discounted overall in Australia.
Residents and property investors in Mayfield have been waiting around 70.6471 days to sell a property.
A $430 per week rent on the median house gives suburb investors a gross yield of circa 4.03%, without taking into account capital value appreciation, which has been averaging out at 6.54%.
Mayfield has had a pretty good year for property investment returns compared to the rest of NSW, giving investors a capital gain of 0.00% to date .
Comparing Mayfield,2304 ‘s 5year and quarterly average capital gain offered to property investors, it performed less well across the longer period
Residents and property investors in Mayfield have been waiting around 64.9444 days to sell a property.
Situated 118.57km from the CBD, Mayfield is one of Newcastle (C) localities in the postcode 2304.
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Information supplied by:
January 2019
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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.