Over the last year, property investments in Fairfield, 3078 have given investors a capital gain of 7.12%. This compares badly with the 11.69% for VIC as a whole.
Over the longer term, Fairfield has seen property prices show investors a 56.71% return over the last 3 years. This is worse than over the last 12 months
At number 648th of VIC’s most discounted properties, Fairfield is in the TOP 10% of the state/territory when listing in order of most discounted to least.
Using the current median advertised rental of $600 and the average annual increase in value of a median property of 8.20%, investors should hope to achieve an overall return of 2.18%
Property value increases in Fairfield have tracked lower than the VIC average of 7.87% over the last 12 months.
The five-year average increase in median property values for Fairfield,3078 has given property investors a potential capital gain of 15.38% across each of those five years.
Property buyers and investors in Fairfield 3078 should be seeing an average reduction in asking price of around -3.94% . This means that Fairfield is holding prices well when compared to other suburbs in VIC.
On average over the past year, suburb has had 4.42 sales per month, which equates to 53 per year.
Situated 5.21km from the CBD, Fairfield is one of Yarra localities in the postcode 3078.
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. Full summary
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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.