QLD has seen average median house prices change by 12.16% which means that Fairfield, 4103 has done well for property investors by showing a capital gain of 17.59% over the last year
Data for the last quarter indicates that, in the short term at least, the capital value growth rate for property investors in Fairfield has increased when compared to the 5 year average annual rate.
Using the current median advertised rental of $500 and the average annual increase in value of a median property of 3.92%, investors should hope to achieve an overall return of 3.04%
Property value increases in Fairfield have tracked close to the QLD average of 8.71% over the last 12 months.
If we look at median property appreciation over just the last three months, Fairfield has given property investors a paper return of -2.45%. This puts Suburb as 344 on a list of fastest fasting appreciating suburbs in QLD
Using the current median advertised rental of $355 and the average annual increase in value of a median property of 2.42%, investors should hope to achieve an overall return of 4.03%
Information supplied by:
Median House Price: $745,500
Current Yield (houses): 3.6%
Average annual growth (houses): 2.8%
Median Unit Price: $432k
Current Yield (units): 4.6%
Average annual growth (units): 1.5%
In prime distance to Brisbane’s central business district and close to the Brisbane River, the suburb of Fairfield has a relatively high volume of owner-occupiers, which contributes toward rising values.
“You can renovate a Queenslander style property in this suburb and be confident that it will markedly increase in value as it is surrounded by other good quality properties,” shares Peter Koulizos, program director of the Master of Property at the University of Adelaide.
The nearby university campus also provides an opportunity for investors to increase their rental income by renting out properties on a room-by-room basis, he adds.