‘Nonsensical’: Economist Shuts Down 10% Price Drop Talk
A big four bank’s suggestion that Australia would see a 10 per cent dip in property prices over 2023 has been promptly...
Property investors enjoyed capital gains of 13.69% over the last 12 months in FAIRFIELD, translating to lower returns compared with its peers in NSW.
A survey of average capital gains or median home price increase in suburbs across the country shows that the NSW suburb obtained a 7.55% growth over a ten-year period. It ranks 728th on our list of suburbs that property investors should look into.
FAIRFIELD, 2165 has a capital gain of 13.69% for the past year, which is higher than average compared to its 12.54% growth within a five-year period.
With the median home price in FAIRFIELD sitting at $839,000, and the average rent at $450, property owners could potentially earn a 2.79% increase in gross rental yield.
Figures from the previous quarter show that capital gains for real estate buyers in FAIRFIELD are high, as opposed to average gains per annum over the past five years.
FAIRFIELD, 2165 in NSW belongs to the local government area of Fairfield (C).
There’s no stopping Fairfield’s property prices from tracking upwards, as housing supply dwindles across its neighbourhoods. Situated along the growth corridor, Fairfield has a real estate market that's getting a boost from increasing interest from investors and consumers, as well as growth from surrounding suburbs such as Liverpool, Cabramatta and Canley Heights. Fairfield is just 32 kilometres away from Sydney’s central business district, which translates to an hour of travel time via public transport or private car.
At first glance, Fairfield seems to be your typical suburban community. But don’t let appearances fool you. Fairfield places high value on its residents’ happiness and wellbeing, which explains its wealth of recreational facilities. The suburb, home to around 18,000 residents as of 2016, has a full-service leisure centre and a number of parks, including the Fairfield Adventure Park, which opened in 2015.
As an ethnically diverse community, Fairfield has a range of shops and restaurants that caters to tourists and its multicultural residents — Middle Easterners, South Americans, Africans and south-east Asians who have made Fairfield their second home. In fact, Fairfield is a known tourism destination visited for its vibrant arts, culture and culinary scene. Its residents celebrate a wide array of yearly ethnic festivals with much gusto, and serves as a model for other communities on how to embrace diversity.
|KEY PROPERTY DATA REPORT||HOUSE||UNIT|
|Median 12 month||13.69%||0.12%|
|Median 3 years||3.58%||-4.97%|
|Median 5 years||12.54%||-4.4%|
|10 years average annual||7.55%||4.47%|
|Weekly media advert. rent||$450||$330|
|Time on Market||89.1 days||58.2 days|
|Gross Rental Yield Percent||2.79%||4.27%|