Suburb Profile Report for Mayfield NSW (2304)

Mayfield House: Median price $572,000, Annual capital growth 7.31%, Number of sales 161, Weekly median advertised rent $430

Mayfield Unit: Median price $418,500, Annual capital growth 6.40%, Number of sales 17, Weekly median advertised rent $370

  • House
  • Unit
Source: CoreLogic RP Data
  • Median price
  • Number of sales
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Source: Monthly data update for Aug 2019 as supplied by CoreLogic. Data is reported to the period ending May 2019. Please note that property sales data is routinely updated, so may change retrospectively.

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If you compare the increase in value of investment property in Mayfield, 2304 to the rest of Australia, it performed somewhat poorly. The median increase in value, or capital gain property investors experienced for this NSW suburb was -4.67%.

Data for the last quarter indicates that, in the short term at least, the capital value growth rate for property investors in Mayfield has increased when compared to the 5 year average annual rate.

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 -6.95% is being offered, which puts this NSW suburb at 1370th most discounted overall in Australia.

Residents and property investors in Mayfield have been waiting around 61.0183 days to sell a property.

Mayfield is 462th on a list of best yielding suburbs for rents in NSW with a 3.91% return

Mayfield is in the bottom 10% in NSW when comparing median price capital growth over the last year. Mayfield gave property investors a dismal capital gain figure when compared to the rest of the state, with -14.77%.

Mayfield,2304 has offered an average of -14.77% return per annum in house price rises to property investors over the last three years.

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
$572,000 $418,500
-3.21% -4.89%
-4.67% -14.77%
7.31% 6.40%
$430 $370
161 17
3.91% 4.60%
61.0183486238532 53.5384615384615

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

DSR Score for property investment : 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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