Suburb Profile Report for Fairfield VIC (3078)

Fairfield House: Median price $1,290,000, Annual capital growth 6.97%, Number of sales 51, Weekly median advertised rent $620

Fairfield Unit: Median price $660,000, Annual capital growth 6.23%, Number of sales 31, Weekly median advertised rent $385

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

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

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  • Unit Report

If you compare the increase in value of investment property in Fairfield, 3078 to the rest of Australia, it performed around average. The median increase in value, or capital gain property investors experienced for this VIC suburb was 0.31%.

If we look at median property appreciation over just the last three months, Fairfield has given property investors a paper return of 7.05%. This puts Suburb as 52 on a list of fastest fasting appreciating suburbs in VIC

Fairfield is 551th on a list of best yielding suburbs for rents in VIC with a 2.50% return

Property investors who have had real estate in Fairfield, 3078 should be pleased with this VIC suburb’s performance compared to the rest of the country. Over the last year it has seen median house prices increase in value by 25.71%

A 26.92% growth in median value for property investors in Fairfield,3078 puts this suburb at number 91th in terms of best performing suburbs in VIC

Property buyers and investors in Fairfield 3078 should be seeing an average reduction in asking price of around -3.22% . This means that Fairfield is holding prices well when compared to other suburbs in VIC.

On average over the past year, suburb has had 2.58 sales per month, which equates to 31 per year.

Fairfield, 3078’s gross rental yield is 3.03%

Information supplied by:




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Fairfield is just 6km northeast of the Melbourne CBD. The suburb is well-served for transport links, with rail links to the city, as well as the Heidelberg Road and the Eastern Freeway providing road access.

There are a range of eateries and shops along the suburb’s main drag of Station Street. There are two primary schools in the suburb as well as a TAFE campus, and the Thomas Embling Hospital is situated in Fairfield Park.

The median house price for the area is over $800,000 according to RP Data, but three-bedroom houses and properties in need of renovation are significantly more affordable.

Metrics i HOUSE UNIT
$1,290,000 $660,000
7.05% 3.13%
0.31% 25.71%
6.97% 6.23%
$620 $385
51 31
2.50% 3.03%
81.8888888888889 65.4666666666667

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

DSR Score for property investment : Above average (H), Above average (U)
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Demographics
Total population 5946
Median household income ($/weekly) 1407
Median age of persons 36
Median housing loan repayment ($/monthly) 2000
Average household size 2.3
  • Census Count Percent(%)
    5-14 years 559 9.4
    25-34 years 1191 20.0
    35-44 years 1082 18.2
    45-54 years 805 13.5
    55-64 years 541 9.1
    Others 1768 29.7
    Age Group
    Census Count Percent(%)
    Not Married 2028 45.6
    Registered Married 1857 41.8
    Defacto Relationship 562 12.6
    Social Marital Status
  • Census Count Percent(%)
    Australia 4053 71.8
    Hong Kong 227 4.0
    Japan 191 3.4
    United Kingdom 218 3.9
    Other 226 4.0
    Others 726 12.9
    Country of Birth
    Census Count Percent(%)
    Buddhism 128 2.4
    Christianity 2875 53.5
    Hinduism 109 2.0
    Islam 66 1.2
    No Religion 2118 39.4
    Others 75 1.4
    Religious Affiliation
  • Census Count Percent(%)
    $400-$599 188 8.6
    $1,000-$1,249 196 9.0
    $1,500-$1,999 275 12.6
    $2,000-$2,499 185 8.5
    $2,500-$2,999 219 10.1
    Others 1116 51.2
    Gross Household Income (Weekly)
    Census Count Percent(%)
    Employed, worked full-time 2032 42.8
    Not in the labour force 1361 28.7
    Employed, worked part-time 1025 21.6
    Employed, away from work 167 3.5
    Unemployed, looking for work 159 3.4
    Person Characteristics
  • Census Count Percent(%)
    Managers 447 13.9
    Professionals 1177 36.5
    Technicians & trades workers 331 10.3
    Community & personal service workers 275 8.5
    Clerical & administrative workers 458 14.2
    Others 536 16.6
    Occupation
    Census Count Percent(%)
    Pre-school 114 7.9
    Infants/Primary 387 26.9
    Secondary 274 19.1
    Technical or Further Educational Institution 192 13.4
    University or other Tertiary Institutions 409 28.4
    Others 62 4.3
    Type of Educational Institution Attending
  • Census Count Percent(%)
    Separate house 3508 64.8
    Flat, unit or apartment 1310 24.2
    Semi-detached, row or terrace house, townhouse 549 10.1
    House or flat attached to a shop, office 46 0.8
    Caravan, cabin, houseboat 0 0.0
    Others 0 0.0
    Dwelling Structure
    Census Count Percent(%)
    Rented 927 39.7
    Fully owned 704 30.1
    Being purchased 695 29.7
    Other tenure type 11 0.5
    Tenure Type
Census 2011, ABS
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