Mayfield Suburb Profile

Imagine unlocking strong returns in a suburb that balances affordability with growth. One of Newcastle’s oldest suburbs, Mayfield sits just northwest of its CBD.
It blends heritage charm, green escapes and village‑scale amenity.
You can buy here for under $1 million and still outpace many metro markets.

Why Mayfield Matters

You want a suburb that ticks every box:

• Growth that surprises you
• Yields that pad your wallet
• Amenities that feel local, not corporate

Mayfield delivers on all fronts.

• Last 12 months growth: Houses +10.48%; Units +10.45% (Your Investment Property Magazine)
• 5‑year annual growth: Houses 10.90%; Units 10.46% (Your Investment Property Magazine)
• Median entry price: $927,500 (houses); $740,000 (units)

With its vintage second‑hand stores, thriving café scene and street‑art festivals, Mayfield feels like a cousin to Sydney’s Inner West, offering that creative buzz without the premium price tag.

But how does it stack against nearby growth corridors?

• Hamilton: +12.37% p.a. (Your Investment Property Magazine)
• Adamstown: +8.73% p.a. (Your Investment Property Magazine)

At +10.48%, Mayfield sits smack in the sweet spot, stronger than Adamstown, just shy of Hamilton, and far more affordable.

 

Top 3 Investor Takeaways

1. Growth That Speaks for Itself
   • 5‑year compound: Houses +65.66%; Units +55.68% (OnTheHouse)
   • National benchmark (CoreLogic HVI): +8.9% p.a. (CoreLogic)
2. Yields That Cushion Your Cash Flow
   • Median weekly rent (house): $650 → 3.93% gross yield (Your Investment Property Magazine)
   • Median weekly rent (unit): $585 → 4.38% gross yield (Your Investment Property Magazine)
3. Mayfield Local Centre Upgrade
   • Maitland Rd precinct refresh: upgraded footpaths, public art, enhanced landscaping (City of Newcastle Council)
   • Rollout 2025–26

Quick Stats

• Population: 9,760 (+4.8% since 2016) (ABS Census 2021)
• Median age: 36 years (ABS Census 2021)
• Owner‑occupied dwellings: 56.2% (Your Investment Property Magazine)
• Rented dwellings: 30.2% (Your Investment Property Magazine)

 

Market Snapshot

• Median sale price: $927,500
• Median advertised weekly rent: $650 pw (Your Investment Property Magazine)
• Gross rental yield: 3.93% for houses (Your Investment Property Magazine)
• 5‑year price growth: +65.7%
• Past 12‑month growth: +10.48% (Your Investment Property Magazine)
• Time to double median value: ~7 years

 

Amenity Highlight

• Village strip: Maitland Rd & Hanbury St—boutique cafés, bakeries, second‑hand boutiques
• Green escape: Blackbutt Reserve (4 km north; 10 min drive)—spot wallabies, walk bushland trails

 

Transport Snapshot

• Bus: Routes 11 & 13 to Newcastle CBD, university and hospital
• Train: Tighes Hill Station (~1.1 km, 14 min walk)
• Drive: ~8 min to Newcastle CBD via Maitland Rd
• On the horizon: potential light‑rail extension into Newcastle’s northwest

 

Top Sales in Mayfield

• 67 Scholey Street – Sold Apr 2025 for $1,350,000‡
• 21 Nile Street – Sold Jul 2025 for $1,165,000‡
• 20 Ingall Street – Sold May 2025 for $1,051,000‡

Note: Mayfield is a broad suburb that includes Mayfield East and West.
This snapshot focuses solely on the core Mayfield area (postcode 2304).

‡ Beyond this core area: in Mayfield East, premium homes have pushed above $1.4 M (e.g., 4 Gorrick Street sold for $1.4 M in Feb 2025) .

 

 

Outlook & Next Steps

• Robust growth vs national and regional averages
• High yields that underpin cash‑flow security
• Major local upgrades on the way

Mayfield isn’t just a lifestyle choice, it’s a strategic move. On the rise, delivering strong growth and solid yields just minutes from the CBD. You’ll love the café culture, quality schools and green spaces, but keep an eye on market cycles, they’ve been heating up lately.

Your move?

Let's chat & Lock in your Newcastle advantage, without the Sydney price tag.

 

Disclaimer: This snapshot is based on data available at the time of publication and is subject to change.

Sources

• Your Investment Property Magazine – Mayfield market snapshot & comparative growth

• 5‑year growth & median entry prices

• Australian Bureau of Statistics – Mayfield QuickStats (Census 2021)

• CoreLogic Home Value Index – national benchmark

• City of Newcastle Council – Mayfield Local Centre upgrade

• Realestate.com.au – Top sales data for Mayfield and Mayfield East