Suburb Profile Report for Mayfield NSW (2304)

Mayfield House: Median price $550,000, Annual capital growth 6.13%, Number of sales 169, Weekly median advertised rent $430

Mayfield Unit: Median price $450,000, Annual capital growth 6.91%, Number of sales 23, Weekly median advertised rent $365

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

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

  • Expert Report
  • House Report
  • Unit Report

Property value increases in Mayfield have tracked lower than the NSW average of 1.68% over the last 12 months.

While Mayfield,2304 ranked number 1065th in NSW for increase in median house value (annualised) increase, it is ranked 476th over the last 5 years.

The most recent median price for Mayfield is $550000, with sellers offering an average of -5.87% off the asking price.

On average over the past year, suburb has had 14.08 sales per month, which equates to 169 per year.

Situated 118.50km from the CBD, Mayfield is one of Newcastle (C) localities in the postcode 2304.

Investment property in Mayfield has done not badly for investors when compared to the country as a whole over the last 12 months, with an increase in the median house price of 7.53%

If we look at median property appreciation over just the last three months, Mayfield has given property investors a paper return of -1.10%. This puts Suburb as 434 on a list of fastest fasting appreciating suburbs in NSW

With the median price for a house in Mayfield being $450000 and the advertised rent reaching $365 the gross rental yield for property investors calculates out to be 4.22%

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
$550,000 $450,000
-0.90% -1.10%
-5.98% 7.53%
6.13% 6.91%
$430 $365
169 23
4.07% 4.22%
57.8585858585859 68.5789473684211

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

DSR Score for property investment : Very good (H), Good (U)
Find a mortgage broker in Mayfield NSW
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
Chart Table