Property investors who have had real estate in Fairfield, 3078 should be unhappy with this VIC suburb’s performance compared to the rest of the country. Over the last year it has seen median house prices decrease in value by -9.79%
While Fairfield,3078 ranked number 624th in VIC for increase in median house value (annualised) increase, it is ranked 399th over the last 5 years.
The most recent median price for Fairfield is $1290000, with sellers offering an average of -3.60% off the asking price.
Advertised rents are around the $630 mark per week – giving a return of 2.54% based on the median price in Suburb
Over the last year, property investments in Fairfield, 3078 have given investors a capital gain of 17.05%. This compares very favourably with the 3.42% for VIC as a whole.
When looking at the potential capital gains offered to property investors over the last 3 years, Fairfield comes in at number 303th in VIC.
Fairfield3078 is located in VIC which offers an average discount of -5.45% to property investors. Fairfield itself is showing figures that indicate -2.20% is the average achievable by property buyers investing in the suburb.
At number 951 in a list of fastest selling suburbs, Fairfield is just in the bottom half of suburbs in Australia with an average of days on market 83.16 for properties listed there.
The VIC suburb of Fairfield, 3078 is in the Darebin (C) local government area.
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.