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Fairfield

POSTAL CODE: VIC, 3078
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FAIRFIELD ranks 744th in VIC when it comes to estimated capital gains experienced by property investors over the past three years.

The suburb’s capital gain of 10.74% for the past year is higher than average compared to its 26.76% growth within a five-year period.

Also in FAIRFIELD, the median home price is sitting at $1,800,000, and the average rent at $650, this suggests property owners could potentially earn a 1.88% increase in gross rental yield.

Property investors have seen a 1.44% gain in FAIRFIELD based on an increase in median home prices for the past three months.

They believe that homeowners and real estate investors betting on FAIRFIELD, 3078 can rest assured about this VIC suburb's performance. The suburb saw median home prices rise by 10.74%.

A survey of average capital gains or median home price increase in suburbs across the country shows that this suburb obtained a 5.83% growth over a ten-year period. It ranks 2828th on our list of suburbs that property investors should look into.

Surburb overview

Fairfield, located approximately 6 kilometres northeast of Melbourne's Central Business District, is an inner suburb within the Cities of Darebin and Yarra, Victoria. As of the 2021 census, it has a population of 6,535 residents.

The suburb is predominantly residential and features a mix of architectural styles, including Victorian and Edwardian homes and modern apartments. Fairfield is known for its multicultural community, which includes significant Greek and Italian populations and growing Chinese, Dutch, German, and Indian communities.

The main commercial area is around Station Street, which hosts over 80 businesses, including over 20 cafes, bars, restaurants, and 17 food and wine specialists. This vibrant shopping district caters to various tastes and preferences, contributing to the suburb's lively atmosphere.

Fairfield offers abundant green spaces, with 22 parks covering nearly 43.5% of its area. Notable recreational areas include Fairfield Park and Yarra Bend Park, which provide residents with ample opportunities for outdoor activities such as walking, cycling, and picnicking.

Public transportation is well-developed. The Fairfield railway station on the Hurstbridge line provides Melbourne's city centre access. Additionally, several bus routes service the area, enhancing connectivity to neighbouring suburbs.

Fairfield offers a range of housing options. The median property price is approximately $1,626,000, and annual capital growth is -4.35%. Rental yields are around 2.42%, and the median weekly rent is $750.

Fairfield's blend of cultural diversity, accessible amenities, and abundant green spaces contributes to its appeal as a residential suburb in Melbourne's inner northeast.

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