Suburb Profile Report for Merimbula NSW (2548)

Merimbula House: Median price $590,000, Annual capital growth 4.96%, Number of sales 50, Weekly median advertised rent $430

Merimbula Unit: Median price $312,000, Annual capital growth 5.71%, Number of sales 107, Weekly median advertised rent $300

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

Source: Monthly data update for Feb 2020 as supplied by CoreLogic. Data is reported to the period ending Nov 2019. Please note that property sales data is routinely updated, so may change retrospectively.

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  • House Report
  • Unit Report

Merimbula is in the TOP 20% in NSW when comparing median price capital growth over the last year. Merimbula gave property investors a very good capital gain figure when compared to the rest of the state, with 6.59%.

When looking at the potential capital gains offered to property investors over the last 3 years, Merimbula comes in at number 111th in NSW.

LACK OF BUYER INTEREST may well be the reason that Merimbula is offering property investors an average of -7.19. This rate of discount on properties puts Suburb at number 423th in terms of most discounted suburbs in NSW

On average over the past year, suburb has had 4.17 sales per month, which equates to 50 per year.

Advertised rents are around the $430 mark per week – giving a return of 3.79% based on the median price in Suburb

Property value increases in Merimbula have tracked higher than the NSW average of -3.18% over the last 12 months.

Over the longer term, Merimbula has seen property prices show investors a 49.28% return over the last 3 years. This is worse than over the last 12 months

Our latest figures would indicate that property sellers in Merimbula are currently offering property investors an average price cut of -5.98% below the asking price at the moment.

With the median price for a house in Merimbula being $312000 and the advertised rent reaching $300 the gross rental yield for property investors calculates out to be 5.00%

Information supplied by:


April 2018

M
O

W
E

Not just for holidaymakers

Postcode: 2548

Median unit price: $262,500

Three-year growth: 18.0%

Rental yield: 5.3%

An affordable suburb situated right on Merimbula Lake, Merimbula has been enjoying considerable growth, although the January 2018 quarter saw apartment values slip slightly.

A fixture on NSW’s Sapphire Coast, the suburb is known for its beaches, water sports and wildlife attractions. Merimbula Boardwalk by the lake is a beautiful walking trail. Merimbula is just 2km away from the town centre, facilitating flights from cities like Sydney and Melbourne.

While primarily a destination for holidaymakers, this spot has also been in demand with homebuyers, recording double-digit levels of growth since 2013. Its high average rental return of 5.3% likely also makes it attractive to investors. Units sell at a low discount rate of 4.2% - a good deal for vendors.

Metrics i HOUSE UNIT
$590,000 $312,000
-2.92% 0.65%
6.59% 4.00%
4.96% 5.71%
$430 $300
50 107
3.79% 5.00%
110.2 108.573770491803

Source: Monthly data update for Feb 2020 as supplied by CoreLogic. Data is reported to the period ending Nov 2019. Please note that property sales data is routinely updated, so may change retrospectively.

DSR Score for property investment : Above average (H), Balanced (U)
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Demographics
Total population 3277
Median household income ($/weekly) 828
Median age of persons 50
Median housing loan repayment ($/monthly) 1300
Average household size 2
  • Census Count Percent(%)
    35-44 years 316 9.6
    45-54 years 472 14.4
    55-64 years 537 16.4
    65-74 years 456 13.9
    75-84 years 299 9.1
    Others 1198 36.5
    Age Group
    Census Count Percent(%)
    Registered Married 1145 48.2
    Not Married 973 41.0
    Defacto Relationship 257 10.8
    Social Marital Status
  • Census Count Percent(%)
    Australia 2548 84.3
    New Zealand 22 0.7
    Papua New Guinea 56 1.9
    United Kingdom 230 7.6
    Other 43 1.4
    Others 124 4.1
    Country of Birth
    Census Count Percent(%)
    Buddhism 32 1.1
    Christianity 2096 73.4
    Islam 3 0.1
    Other Religious Groups 11 0.4
    No Religion 712 24.9
    Others 3 0.1
    Religious Affiliation
  • Census Count Percent(%)
    $300-$399 125 9.9
    $400-$599 208 16.5
    $600-$799 169 13.4
    $800-$999 168 13.3
    $1,500-$1,999 126 10.0
    Others 465 36.9
    Gross Household Income (Weekly)
    Census Count Percent(%)
    Not in the labour force 1227 47.0
    Employed, worked full-time 727 27.9
    Employed, worked part-time 483 18.5
    Employed, away from work 97 3.7
    Unemployed, looking for work 74 2.8
    Person Characteristics
  • Census Count Percent(%)
    Managers 223 17.1
    Professionals 170 13.0
    Technicians & trades workers 214 16.4
    Clerical & administrative workers 148 11.3
    Sales 202 15.5
    Others 350 26.8
    Occupation
    Census Count Percent(%)
    Pre-school 42 8.8
    Infants/Primary 160 33.3
    Secondary 166 34.6
    Technical or Further Educational Institution 58 12.1
    University or other Tertiary Institutions 37 7.7
    Others 17 3.5
    Type of Educational Institution Attending
  • Census Count Percent(%)
    Separate house 1776 62.6
    Flat, unit or apartment 575 20.3
    Semi-detached, row or terrace house, townhouse 459 16.2
    Caravan, cabin, houseboat 22 0.8
    House or flat attached to a shop, office 3 0.1
    Others 0 0.0
    Dwelling Structure
    Census Count Percent(%)
    Fully owned 523 39.4
    Rented 496 37.3
    Being purchased 277 20.8
    Other tenure type 33 2.5
    Tenure Type
Census 2011, ABS
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