Suburb Profile Report for Parkes NSW (2870)

Parkes House: Median price $248,500, Annual capital growth 3.39%, Number of sales 209, Weekly median advertised rent $260

Parkes Unit: Median price $273,500, Annual capital growth N/A, Number of sales 13, Weekly median advertised rent $250

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

Source: CoreLogic

  • House Report
  • Unit Report

If you compare the increase in value of investment property in Parkes, 2870 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 3.54%.

A 8.04% growth in median value for property investors in Parkes,2870 puts this suburb at number 1124th in terms of best performing suburbs in NSW

State is the 7th most discounted Australian state or territory in this month’s figures with an average Vendor Discount of -5.50% offered to property buyers. Sellers in Parkes itself are offering an average vendor discount of -7.95% to real estate investors.

In the last year 209 properties changed hands in Parkes, which puts it as the 51th most active market in NSW when comparing the number of sales per suburb.

With the median price for a house in Parkes being $248500 and the advertised rent reaching $260 the gross rental yield for property investors calculates out to be 5.44%

If we look at median property appreciation over just the last three months, Parkes has given property investors a paper return of 30.24%. This puts Suburb as 1 on a list of fastest fasting appreciating suburbs in NSW

On average over the past year, suburb has had 1.08 sales per month, which equates to 13 per year.

HOUSE UNIT
$248,500 $273,500
-1.39% 30.24%
3.54% N/A
3.39% N/A
$260 $250
209 13
5.44% 4.75%
141.29 N/A

Source: CoreLogic

DSR Score for property investment : Above average (U), Balanced (H)
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Demographics
Total population 11265
Median household income ($/weekly) 950
Median age of persons 38
Median housing loan repayment ($/monthly) 1387
Average household size 2.5
  • Census Count Percent(%)
    5-14 years 1776 15.8
    25-34 years 1260 11.2
    35-44 years 1361 12.1
    45-54 years 1476 13.1
    55-64 years 1214 10.8
    Others 4179 37.1
    Age Group
    Census Count Percent(%)
    Registered Married 3707 48.9
    Not Married 3077 40.6
    Defacto Relationship 798 10.5
    Social Marital Status
  • Census Count Percent(%)
    Australia 9900 94.6
    Papua New Guinea 65 0.6
    Philippines 47 0.4
    United Kingdom 161 1.5
    Other 64 0.6
    Others 224 2.1
    Country of Birth
    Census Count Percent(%)
    Buddhism 46 0.4
    Christianity 9139 88.7
    Hinduism 15 0.1
    Islam 16 0.2
    No Religion 1072 10.4
    Others 14 0.1
    Religious Affiliation
  • Census Count Percent(%)
    $300-$399 433 11.8
    $400-$599 483 13.2
    $600-$799 404 11.0
    $1,000-$1,249 355 9.7
    $1,500-$1,999 417 11.4
    Others 1577 43.0
    Gross Household Income (Weekly)
    Census Count Percent(%)
    Not in the labour force 3141 38.9
    Employed, worked full-time 3004 37.2
    Employed, worked part-time 1379 17.1
    Employed, away from work 328 4.1
    Unemployed, looking for work 219 2.7
    Person Characteristics
  • Census Count Percent(%)
    Managers 574 12.2
    Professionals 683 14.5
    Technicians & trades workers 735 15.6
    Clerical & administrative workers 636 13.5
    Machinery operators & drivers 567 12.0
    Others 1516 32.2
    Occupation
    Census Count Percent(%)
    Pre-school 217 8.4
    Infants/Primary 1020 39.6
    Secondary 848 33.0
    Technical or Further Educational Institution 291 11.3
    University or other Tertiary Institutions 169 6.6
    Others 28 1.1
    Type of Educational Institution Attending
  • Census Count Percent(%)
    Separate house 9644 94.3
    Semi-detached, row or terrace house, townhouse 279 2.7
    Flat, unit or apartment 219 2.1
    Caravan, cabin, houseboat 55 0.5
    House or flat attached to a shop, office 25 0.2
    Others 0 0.0
    Dwelling Structure
    Census Count Percent(%)
    Fully owned 1397 34.9
    Being purchased 1309 32.7
    Rented 1259 31.4
    Other tenure type 39 1.0
    Tenure Type
Census 2011, ABS
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Recent sales & rentals