Suburb Profile Report for Merewether NSW (2291)

Merewether House: Median price $1,250,000, Annual capital growth 8.55%, Number of sales 153, Weekly median advertised rent $550

Merewether Unit: Median price $495,000, Annual capital growth 5.14%, Number of sales 103, Weekly median advertised rent $380

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

Source: CoreLogic

  • House Report
  • Unit Report

Over the last year, property investments in Merewether, 2291 have given investors a capital gain of 27.42%. This compares very favourably with the 8.26% for NSW as a whole.

Taking the average capital gain, or increase in median house value, Merewether,2291 has racked up an average of 27.42% over the period. This ranks it number 524th in the whole country for real estate investors looking at median house price increases.

Property buyers and investors in Merewether 2291 should be seeing an average reduction in asking price of around -4.82% . This means that Merewether is holding prices well when compared to other suburbs in NSW.

Residents and property investors in Merewether have been waiting around 55.33 days to sell a property.

A $550 per week rent on the median house gives suburb investors a gross yield of circa 2.29%, without taking into account capital value appreciation, which has been averaging out at 8.55%.

Property value increases in Merewether have tracked just lower than the NSW average of 6.07% over the last 12 months.

Comparing Merewether,2291 ‘s 5year and quarterly average capital gain offered to property investors, it performed less well across the longer period

State is the 7th most discounted Australian state or territory in this month’s figures with an average Vendor Discount of -4.33% offered to property buyers. Sellers in Merewether itself are offering an average vendor discount of -3.36% to real estate investors.

In the last year 103 properties changed hands in Merewether, which puts it as the 144th most active market in NSW when comparing the number of sales per suburb.

Merewether is 313th on a list of best yielding suburbs for rents in NSW with a 3.99% return

Metrics i HOUSE UNIT
$1,250,000 $495,000
12.11% 2.06%
27.42% 2.06%
8.55% 5.14%
$550 $380
153 103
2.29% 3.99%
55.33 52.3

Source: CoreLogic

DSR Score for property investment : Good (U), Good (H)
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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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