Fairfield is a medium-sized suburb in Victoria within the Darebin local government area (postcode 3078). With a population of 6,535, the suburb has a blend of families and working-age professionals with a median age of 37. Households earn a median income of $102K per year, with an average household size of 2.2 people. Recent annual estimates show population movement into the broader catchment, with population growth running at +2.0% year-on-year at the LGA level. VIC employment has moved +0.9% year-on-year in the official Jobs and Skills Australia NERO series, which provides the broader jobs backdrop for this suburb. VIC also had 45 Commonwealth-backed major projects under construction, 17 underway, and 27 in planning as at 2 October 2024, which is useful as a broader delivery backdrop rather than a suburb-specific project count. The most common occupations are professionals, managers, clerical & administrative. Employment in the area leans toward healthcare and professional services. The top ancestries reported are English, Australian, Irish.
Fairfield has a median house price of $1.6 million, which has risen by 2.5% year-on-year. Units have a median price of $540,000 (-15% YoY). The current median weekly rent is $550. This gives a gross rental yield of approximately 1.8%. The median monthly mortgage repayment is $2,167.
Fairfield is served by 1 school, including 1 primary. The average ICSEA score is 1170, which is well above the national average of 1,000. Public transport access includes 20 rail stations, 21 bus stops. Healthcare facilities include 1 public hospital. The crime rate in the Darebin LGA is higher than average at 10,706 incidents per 100,000 population.
Looking at the investment signals, The gross rental yield works out to roughly 1.8%, which reads as low yield. Property prices are above the state median ($1.6M/$875K), placing it in the premium segment. The price-to-income ratio of 15.9x is considered stretched. House prices have moved +2.5% year-on-year. Population growth of +2.0% year-on-year points to stable demand fundamentals. Building approvals have changed +0% year-on-year, indicating steady development activity.