fairfield

3078, Victoria

Real Estate & Property Information

Median
Price Rank
78

fairfield Suburb Profile & Review

A residential and industrial area on the outskirts of Melbourne's coveted inner-city suburbs, Fairfield has a fascinating colonial history and still uses many of its iconic old buildings. From the historic Fairfield Boathouse, dine and watch canoes paddle along the Yarra River, or visit the Fairfield Amphitheatre in the middle of Fairfield Park for performances and ceremonies.

Fairfield Station, fearlessly guarded by The Fairfield Industrial Dog Object (FIDO) a rather unique oversized dog sculpture, provides services to and from Flinders Street on the Hurstbridge line in less than twenty minutes. Connecting bus services to Hawthorn and Northcote are also available from platform two. Opposite the station on Station Street, you will find Fairfield Village, a lively shopping strip boasting cafes, bars and supermarkets.

Fairfield Primary School and St Anthony's Primary School are both minutes from the town centre, while the Fairfield Northern Melbourne Institute of TAFE campus can be found on Yarra Bend Road.

fairfield Demographic Data

$ 780,000 Median House Price

16 Minutes Average Commute

36 Median Age

5,946 Population

49.71 % Female

50.29 % Male

1433 NO OF FAMILIES

1.8 AVG CHILDREN PER FAMILY

0.9 AVG MOTOR VEHICLE PER DWELLING

What this means

The following data, without any explanation, is just that, raw data. So in order to help you research the property market, we have outlined what this demographic and real estate information means and how it can be interpreted to help you make a smarter decision when buying or selling your next house or unit in fairfield, Victoria.

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fairfield Demographic Data

The demographic data below has been supplied by the Australian Bureau of Statistics (ABS), which is a government body. It is based on Census data collected every 5 years on the Australian population. Although it is dated 2011, this is the latest data available and should give property investors, property buyers and sellers a very good idea when researching or reviewing their suburb.

It’s important to note when looking at this data that you don’t just use it on its own. Consider this demographic and real estate data as a whole and seek advice from a professional when thinking of buying or selling your next property.

fairfield Median House Prices

  • 2008 $ 680,000
  • 2009 $ 664,500
  • 2010 $ 675,500
  • 2011 $ 810,000
  • 2012 $ 780,000

What this means

Median values are the most accepted measure of property values in the real estate industry in Australia. The median is the midpoint (the middle) figure when all the sold property prices over a particular period of time are ordered from their lowest to their highest value.

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fairfield 5 Year Median House Prices

Here we have outlined the median value for all sales for each year over a period of 5 years. This is a more realistic timeframe when gauging how houses and units in fairfield have performed, and it usually indicates how they will perform in the future.

Median values less than 3 months old are often not always accurate (due to incomplete data) and therefore cannot be relied upon for long-term fairfield property price predictions.

fairfield Market Property Types

  • 53 % Seperate House
  • 11 % Semi Detached
  • 36 % Flat or Unit
  • 1 % Other Dwelling

What this means

The property type in your suburb will help you identify the density of the area. The greater the number of flats, units and apartments, the more likely it is the suburb has a higher density of living and occupants are more reliant on public transport, cafes, restaurants, convenience stores and amenities, infrastructure and less reliant on their own vehicle for transport.

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fairfield Market Property Types

Typically, inner city suburbs within 10km of the CBD are comprised of apartments and semi-detached homes, while middle ring suburbs have semi-detached and detached properties. Rural properties would most likely fall under the “other” category.

This ABS Property Type data combined with Population Density and Family Composition figures gives a good indication of the type of people living in an area and therefore what type of property (1-2 bed apartment or house) would be an ideal investment or property to live in.

fairfield Income & Mortgage Stats

  • $ 1,407 Median Weekly Household Income
  • $ 2,000 Median Monthly Mortgage

What this means

This is one of the most compelling statistics in this section because it has a profound impact on real estate prices. It should always be considered when buying or selling property in fairfield

Experts believe mortgage stress occurs in real estate when property owners are spending over 30% of their gross income on their mortgage repayments. These figures show weekly income and monthly mortgages.

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fairfield Income & Mortgage Stats

To calculate the percentage of income paid towards a mortgage for the suburb of Melbourne, multiply the mortgage payment (e.g. $2450) by 12 then divide this figure by the weekly income (e.g. $1200) multiplied by 52 (weeks) to look like this ($2450 x12/$1200 x 52) x 100 = 47%

Any figure above 30% usually indicates that the suburb you intend to buy in may have property owners with a high incidence of mortgage stress. In terms of maintaining or growing property values in the future and trying to secure a strong property price when selling, this could have an impact, especially in an economic or local industry downturn.

fairfield Sold Property Prices

fairfield Real Estate Experts

In each suburb we have identified real estate agents who are active local experts. Our goal is to have a network of real estate agents that have been reviewed by previous clients for future buyers and sellers to rely on when making their next property move or even when they just wanting real estate advice.

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fairfield Restaurants

  • Trapezi145 Station Stfairfield VIC 307803 9489 0080
  • Pizza StazioneShop 2/83 Station Stfairfield VIC 307803 9486 4466
  • Matsuya Japanese146 Station Stfairfield VIC 307803 9482 6088

fairfield Cafes

  • Alfios86 Station Stfairfield VIC 307803 9482 7800
  • The Nut Station/Cafe25 Railway Placefairfield VIC 307803 9410 9682
  • Fairfield Park Boathouse & Tea GardensFairfield Park Drivefairfield VIC 307803 9486 1501

fairfield Schools

  • Fairfield Primary SchoolLangridge Streetfairfield VIC 3078(03) 9489 2966State Primary School
  • Northern Melbourne Institute (NMIT) Fairfield CampusYarra Bend Roadfairfield VIC 3078(03) 9269 1200TAFE Education
  • University of the Third Age26 Railway Plfairfield VIC 3078(03) 9610 2102University

fairfield Childcare

  • Perry Street Child Care Centre129 Perry Streetfairfield VIC 3078

fairfield Kindergarten and Preschools

  • Alfred Nuttall Memorial Kinder34 Separation Streetfairfield VIC 3078
  • St. Andrews Uniting KinderCnr Duncan St & Gillies Stfairfield VIC 3078

fairfield Sporting Centres and Clubs

  • Fairfield Canoe Clubfairfield VIC 3078Boating Club
  • Fairfieldfairfield VIC 3078Bowling Club
  • Yarra Bendfairfield VIC 3078Golf Driving Ranges

Find out How Much your House is Worth in fairfield

Request a free market Basic Report for fairfield to get a general idea of property prices in your area, or a more specific CMA Report for the property you own.

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