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Mayfield, TAS 7248

If you’re looking to buy, rent, or invest in property, it’s important to do your research on the suburb first. This includes looking at house prices, real estate rental market data, and other advanced metrics. Here, we’ve compiled that information for Mayfield, TAS 7248 to help you make an informed decision about your property choice in this suburb.





Market Snapshot

This page provides an overview of the area’s real estate market. The data in this snapshot illustrates typical price, median rent and gross yield metrics for this suburb. You are able to visualise these 3 key metrics as well as other important indicators in the dashboard section that follows.

Buy 

2BR

3BR

4BR

5BR

Rent 

2BR

3BR

4BR

5BR

Yield 

2BR

3BR

4BR

5BR

Buy 

1BR

2BR

3BR

Rent 

1BR

2BR

3BR

Yield 

1BR

2BR

3BR

Lower Risk RCS™

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Capital Growth RCS™

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Cashflow RCS™

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Essentials
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Yield chart
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GRC chart
Fundamentals
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IRSAD chart
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Renters to owners pie chart
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unit to houses pie charts
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Demand chart
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Inventory chart
Supply

Stock on Market

Inventory

Hold Period

Building Approvals

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SOM chart
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Inventory chart
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Inventory chart
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Hold chart
Demand

Days on Market

Vacancy Rate

Clearance Rate

Search Index

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DOM chart
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Inventory chart
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Index chart
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Auction chart

How was this calculated? Typical Price is a continuous metric calculated via a process called data fitting. Median Rent is weekly advertised rent based on rentals over the preceding 12 months. Gross Yield is Median Rent x 52 x 100 / Typical Price. To discover additional information, click the “i” icon in the top left corner of each graph or visit the Data Dictionary page.

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0 thoughts on “Mayfield, TAS 7248”

  1. The total adult population (15 years or older) of Mayfield 7248 TAS is 1,190, with a median age of 34. Of those, 27.73% are married, 13.61% are divorced or separated, 51.43% are single and 6.81% are widowed.

    The average household size is 2.3 people per dwelling, and the median household monthly income is estimated to be $4,636. The median monthly mortgage repayment for households in this suburb is $867 which is 18.70% of their earnings.

    Source: ABS Census Data (2021)

  2. Situated in Tasmania, Mayfield 7248 is a charming suburb that comprises approximately 615 households. The property market in Mayfield is unique and as of Q3 of 2023, property investment in this locality appears to be quite promising.

    Starting with the essentials, the typical price for houses in Mayfield 7248 stands at $346,008 and with a median weekly rent of $373, an indicative yield of an impressive 5.61% is being achieved. Moreover, this suburb presents a socio-economic score of 751 out of 1217, indicating a moderate level of access to economic resources.

    In terms of the fundamental metrics, Mayfield has a renter to owner ratio of 52%, indicating a higher proportion of renters in this area. However, the units to houses ratio is a low 4%, showcasing an overwhelming predilection for houses over units. This could potentially provide less competition among landlords for tenants and maintain higher rental yields. The affordability index is favourable at 29 years, indicating that the housing market in Mayfield is within the reach of many prospective homeowners.

    Supply metrics present a very healthy scenario in Mayfield. With a low stock on market percentage of 0.33% and an inventory level at 1.0 month, it exhibits a favourable low supply market. The building approvals Ratio is at a negligible 0.0%, indicating a steady market without the risk of oversupply of new dwellings.

    From a demand perspective, the days on market metric for houses stands at 25 days, demonstrating a high demand locality where properties sell quickly. Similarly, the vacancy rate, which combines both houses and units, is at a low 0.95%, further confirming Mayfield’s high demand status. However, the buy search index is at a neutral 3, suggesting balanced buyer interest in the area.

    Despite a higher renter to owner ratio, Mayfield maintains solid attractive features including significant indicative yield, low supply, high demand, and reasonable affordability. Like all property markets, it’s crucial to stay informed about market developments. Furthermore, the Relative Composite Score (RCS) metric developed by HtAG Analytics can greatly assist in automating this research process, utilising over 80 metrics to provide comprehensive property market insights.

    It’s important to note that the above analysis provides a snapshot of current value metrics but doesn’t consider metric trends, which can also significantly influence investment decisions. Moreover, some metrics have greater importance than others based on various factors, a nuance that must be understood for a holistic analysis.

    Join HtAG Analytics to visualise these metrics trends, and gain a deeper understanding of their importance. By becoming part of HtAG Analytics, you will be empowered to make informed decisions, discerning which metrics are more significant in the context of your property investment strategy.

    This content serves to inform and does not constitute investment advice. Property investment involves risks and uncertainties, and professional advice should be sought before making any investment decisions. By leveraging expert guidance, potential investors can ensure a comprehensive understanding of the complex property investment landscape.

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