Get a property report and suburb profile for any property in Schofields

Schofields has moved from farmland to a largely residential neighbourhood, with newer estates and rows of modern family homes alongside a scattering of older rural properties on the outer edges. It appeals mainly to families and commuters who want more space, parks and sporting fields while keeping a local shopping and community base. The suburb keeps creek corridors and pockets of bushland that give a semi-rural feel even as development continues, and it is served by its own station on the Richmond line plus road links to surrounding centres.

There is a strong family presence in Schofields, with 64.6% of households being couple families with children; the suburb is home to 15,213 people, has a median age of 32 and a median household income of $2,696 a week (roughly $140,200 a year). Homes are predominantly owner-occupied (68.0%) with 32.0% rented. A major upgrade to Schofields Public School replaced dozens of demountables with a three-storey building of 24 classrooms, and local transport, road and parkland projects are currently underway. Whether it suits you will come down to what you want from a suburb.

Against local household incomes as recorded at the last Census, buying and renting tell different stories in Schofields. A median house price of $1,240,000 is about 8.8 times a typical local annual household income (weekly household income $2,696, annual $140,192), while the median unit price of $632,500 is about 4.5 times that annual income. For renters, house rent of $800 a week would take about 29.7% of a typical local household's weekly income and unit rent of $650 a week about 24.1% — both moderate shares. Whether that feels expensive depends on your own income and circumstances.

Everyone's financial situation is different, so it's important to consider your own circumstances when deciding which suburb is right for you.

Over the past 12 months Schofields recorded increases in both property values and rents. Median house values rose 5.8% while house rents increased 5.3%, so price and rental growth for houses moved at similar rates. Unit values lifted a more modest 2.1% while unit rents climbed 5.7%.

If your focus is capital growth, the house side showed the stronger price lift this year (5.8% versus 2.1% for units). If rental income is your priority, unit rents were the stronger performer at 5.7%. Whether that balance suits you will depend on your own goals and circumstances.

This information has been prepared without taking your objectives, needs and overall financial situation into account. It is not meant to be a substitute for professional financial advice. For this reason, you should consider the appropriateness of the information and, if necessary, seek appropriate professional advice.