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%
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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.