Suburb Profile Report for Merewether NSW (2291)

Merewether House: Median price $1,142,500, Annual capital growth 7.89%, Number of sales 162, Weekly median advertised rent $550

Merewether Unit: Median price $485,000, Annual capital growth 4.38%, Number of sales 98, Weekly median advertised rent $370

  • House
  • Unit
Source: CoreLogic RP Data
  • Median price
  • Number of sales

Source: CoreLogic

  • House Report
  • Unit Report

At number 230th in the list of Australian suburbs ordered by increase in median house value over the last year, Merewether, 2291 is in the top 10% with a property value increase of 20.90% recorded in median house prices.

If we look at median property appreciation over just the last three months, Merewether has given property investors a paper return of 9.86%. This puts Suburb as 95 on a list of fastest fasting appreciating suburbs in NSW

Sellers are offering property buyers an average discount of -4.90% to buyers in Merewether at the moment, which is less than average for the rest of NSW.

The NSW suburb of Merewether, 2291 is in the Newcastle local government area.

If you compare the increase in value of investment property in Merewether, 2291 to the rest of Australia, it performed around average. The median increase in value, or capital gain property investors experienced for this NSW suburb was 1.04%.

Over the longer term, Merewether has seen property prices show investors a 22.47% return over the last 3 years. This is worse than over the last 12 months

Vendor discounting in Merewether is giving property investors an average Vendor Discount of around -3.65%. This puts suburb at number 315th in NSW when ranking the most discounted suburbs.

HOUSE UNIT
$1,142,500 $485,000
9.86% -2.02%
20.90% 1.04%
7.89% 4.38%
$550 $370
162 98
2.50% 3.97%
56.16 59.63

Source: CoreLogic

DSR Score for property investment : Good (H), Very good (U)
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Demographics
Total population 10468
Median household income ($/weekly) 1559
Median age of persons 37
Median housing loan repayment ($/monthly) 2167
Average household size 2.4
  • Census Count Percent(%)
    5-14 years 1145 10.9
    25-34 years 1585 15.1
    35-44 years 1367 13.1
    45-54 years 1548 14.8
    55-64 years 1248 11.9
    Others 3575 34.2
    Age Group
    Census Count Percent(%)
    Not Married 3632 45.0
    Registered Married 3594 44.6
    Defacto Relationship 840 10.4
    Social Marital Status
  • Census Count Percent(%)
    Australia 8966 88.6
    Japan 59 0.6
    Papua New Guinea 115 1.1
    United Kingdom 358 3.5
    Other 155 1.5
    Others 469 4.6
    Country of Birth
    Census Count Percent(%)
    Buddhism 118 1.2
    Christianity 7047 72.1
    Hinduism 39 0.4
    Islam 38 0.4
    No Religion 2483 25.4
    Others 53 0.5
    Religious Affiliation
  • Census Count Percent(%)
    $400-$599 297 7.8
    $1,500-$1,999 410 10.7
    $2,000-$2,499 364 9.5
    $2,500-$2,999 433 11.3
    $3,000-$3,499 306 8.0
    Others 2010 52.6
    Gross Household Income (Weekly)
    Census Count Percent(%)
    Employed, worked full-time 3569 41.9
    Not in the labour force 2488 29.2
    Employed, worked part-time 1873 22.0
    Employed, away from work 347 4.1
    Unemployed, looking for work 237 2.8
    Person Characteristics
  • Census Count Percent(%)
    Managers 813 14.0
    Professionals 1905 32.9
    Technicians & trades workers 681 11.8
    Community & personal service workers 572 9.9
    Clerical & administrative workers 753 13.0
    Others 1065 18.4
    Occupation
    Census Count Percent(%)
    Pre-school 175 6.4
    Infants/Primary 755 27.4
    Secondary 655 23.8
    Technical or Further Educational Institution 223 8.1
    University or other Tertiary Institutions 898 32.6
    Others 49 1.8
    Type of Educational Institution Attending
  • Census Count Percent(%)
    Separate house 7243 73.3
    Flat, unit or apartment 1463 14.8
    Semi-detached, row or terrace house, townhouse 1159 11.7
    House or flat attached to a shop, office 17 0.2
    Caravan, cabin, houseboat 0 0.0
    Others 0 0.0
    Dwelling Structure
    Census Count Percent(%)
    Rented 1442 34.6
    Fully owned 1388 33.3
    Being purchased 1296 31.1
    Other tenure type 39 0.9
    Tenure Type
Census 2011, ABS
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Recent sales & rentals