Suburb Profile Report for Merewether NSW (2291)

Merewether House: Median price $1,240,000, Annual capital growth 7.52%, Number of sales 150, Weekly median advertised rent $610

Merewether Unit: Median price $552,500, Annual capital growth 6.67%, Number of sales 76, Weekly median advertised rent $420

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

Source: Monthly data update for May 2020 as supplied by CoreLogic. Data is reported to the period ending Feb 2020. Please note that property sales data is routinely updated, so may change retrospectively.

  • House Report
  • Unit Report

At number 3190th in the list of Australian suburbs ordered by increase in median house value over the last year, Merewether, 2291 is in the BOTTOM 30% with a property value increase of -4.98% recorded in median house prices.

Across a shorter period, Merewether, 2291 has seen a median price increase of 3.33% over the last quarter.

Our latest figures would indicate that property sellers in Merewether are currently offering property investors an average price cut of -8.43% below the asking price at the moment.

Merewether, 2291’s gross rental yield is 2.56%

Investment property in Merewether has done poorly for investors when compared to the country as a whole over the last 12 months, with an increase in the median house price of -10.16%

Merewether,2291 has offered an average of -10.16% return per annum in house price rises to property investors over the last three years.

LACK OF BUYER INTEREST may well be the reason that Merewether is offering property investors an average of -6.01. This rate of discount on properties puts Suburb at number 46th in terms of most discounted suburbs in NSW

With the median price for a house in Merewether being $552500 and the advertised rent reaching $420 the gross rental yield for property investors calculates out to be 3.95%

Metrics i HOUSE UNIT
$1,240,000 $552,500
3.33% -0.45%
-4.98% -10.16%
7.52% 6.67%
$610 $420
150 76
2.56% 3.95%
72.1460674157304 65.6

Source: Monthly data update for May 2020 as supplied by CoreLogic. Data is reported to the period ending Feb 2020. Please note that property sales data is routinely updated, so may change retrospectively.

DSR Score for property investment : Above average (H), Above average (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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