Suburb Profile Report for Merewether Heights NSW (2291)

Merewether Heights House: Median price $975,000, Annual capital growth 7.51%, Number of sales 21, Weekly median advertised rent $700

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

Over the last year, property investments in Merewether Heights, 2291 have given investors a capital gain of 1.83%. This compares averagely with the 4.04% for NSW as a whole.

Vendor discounting in Merewether Heights is giving property investors an average Vendor Discount of around -2.32%. This puts suburb at number 1204th in NSW when ranking the most discounted suburbs.

Often selling an investment property can take time, and in Merewether Heights the average time real estate has been on the market is 37.25 days.

Information supplied by:


December 2017

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6km south of the Newcastle CBD, the suburb of Merewether Heights reported very significant house price growth in the year leading up to the end of September 2017Full summary

Premium suburb skyrockets

Postcode: 2291

Median house price: $958,000

Three-year growth: 25.7%

Rental yield: 3.3%

6km south of the Newcastle CBD, the suburb of Merewether Heights reported very significant house price growth in the year leading up to the end of September 2017.

Values soared by 33% to a median of $958,000. Despite the hefty price tags, houses fly off the market, spending an average of just 22 days on sale. This could be due to Merewether Heights’s proximity to the city and its amenities – employment, schools and entertainment. Hence, even with its low yields, this suburb could be one to keep an eye out for if you’re investing for long-term growth.

Newcastle East Public School, Newcastle High school and the University of Newcastle are nearby, as are the shops in Westfield Kotara and Merewether Beach. Merewether Heights is served by the buses that stop at Hatfield St.

Close
Metrics i HOUSE UNIT
$975,000 N/A
N/A N/A
1.83% N/A
7.51% N/A
$700 N/A
21 N/A
3.73% N/A
37.25 N/A

Source: CoreLogic

DSR Score for property investment : Good (H), Good (U)
Find a mortgage broker in Merewether Heights NSW
Demographics
Total population 1432
Median household income ($/weekly) 1901
Median age of persons 41
Median housing loan repayment ($/monthly) 2167
Average household size 2.8
  • Census Count Percent(%)
    5-14 years 224 15.6
    35-44 years 216 15.1
    45-54 years 185 12.9
    55-64 years 147 10.3
    65-74 years 181 12.6
    Others 480 33.5
    Age Group
    Census Count Percent(%)
    Registered Married 647 64.6
    Not Married 282 28.2
    Defacto Relationship 72 7.2
    Social Marital Status
  • Census Count Percent(%)
    Australia 1241 90.3
    Papua New Guinea 15 1.1
    United Kingdom 40 2.9
    United States of America 9 0.7
    Other 14 1.0
    Others 56 4.1
    Country of Birth
    Census Count Percent(%)
    Christianity 982 73.4
    No Religion 340 25.4
    Buddhism 8 0.6
    Other Religious Groups 5 0.4
    Hinduism 3 0.2
    Others 0 0.0
    Religious Affiliation
  • Census Count Percent(%)
    $600-$799 41 9.4
    $1,500-$1,999 51 11.7
    $2,000-$2,499 43 9.9
    $2,500-$2,999 73 16.7
    $3,000-$3,499 37 8.5
    Others 191 43.8
    Gross Household Income (Weekly)
    Census Count Percent(%)
    Employed, worked full-time 396 37.1
    Not in the labour force 371 34.8
    Employed, worked part-time 235 22.0
    Unemployed, looking for work 33 3.1
    Employed, away from work 32 3.0
    Person Characteristics
  • Census Count Percent(%)
    Managers 88 13.3
    Professionals 243 36.7
    Technicians & trades workers 74 11.2
    Clerical & administrative workers 88 13.3
    Sales 62 9.4
    Others 107 16.2
    Occupation
    Census Count Percent(%)
    Pre-school 31 8.2
    Infants/Primary 166 43.9
    Secondary 81 21.4
    Technical or Further Educational Institution 20 5.3
    University or other Tertiary Institutions 72 19.0
    Others 8 2.1
    Type of Educational Institution Attending
  • Census Count Percent(%)
    Separate house 1295 98.0
    Semi-detached, row or terrace house, townhouse 26 2.0
    Flat, unit or apartment 0 0.0
    Caravan, cabin, houseboat 0 0.0
    Improvised home, tent, sleepers out 0 0.0
    Others 0 0.0
    Dwelling Structure
    Census Count Percent(%)
    Fully owned 231 48.0
    Being purchased 205 42.6
    Rented 42 8.7
    Other tenure type 3 0.6
    Tenure Type
Census 2011, ABS
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Recent sales & rentals