Located in New South Wales within the Kempsey local government area, Arakoon is a sparsely populated locality (postcode 2431). It is home to about 445 residents, with a more retirement-aged population and a median age of 59. Households earn a median income of $69K per year, with an average household size of 2.2 people. Recent annual estimates show population movement staying broadly stable across the broader catchment, with population growth running at +0.4% year-on-year at the LGA level. NSW employment has moved +0.3% year-on-year in the official Jobs and Skills Australia NERO series, which provides the broader jobs backdrop for this suburb. NSW also had 37 Commonwealth-backed major projects under construction, 5 underway, and 75 in planning as at 2 October 2024, which is useful as a broader delivery backdrop rather than a suburb-specific project count. The most common occupations are professionals, technicians & trades, community & personal service. Employment in the area leans toward healthcare and construction. The top ancestries reported are English, Australian, Irish.
Median house prices in Arakoon stand at $1.1 million, having dropped significantly by 8.7% over the last twelve months. The current median weekly rent is $520. This gives a gross rental yield of approximately 2.4%. The median monthly mortgage repayment is $1,733.
Public transport access includes 4 bus stops. The crime rate in the Kempsey LGA is moderate at 7,255 incidents per 100,000 population.
Looking at the investment signals, The gross rental yield works out to roughly 2.4%, which reads as low yield. Property prices are near the state median ($1.1M/$1.5M). The price-to-income ratio of 16.7x is considered stretched. House prices have moved -8.7% year-on-year. Population growth of +0.4% year-on-year points to stable demand fundamentals. Building approvals have changed +0% year-on-year, indicating steady development activity.