Ashfield is a sizeable suburb in New South Wales within the Inner West local government area (postcode 2131). The area has roughly 23,012 residents and a mix of families and early-career residents, with a median age of 36. Households earn a median income of $98K per year, with an average household size of 2.3 people. Recent annual estimates show population movement staying broadly stable across the broader catchment, with population growth running at +1.0% 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, clerical & administrative, managers. Employment in the area leans toward healthcare and professional services. The top ancestries reported are Chinese, English, Australian.
Ashfield has a median house price of $2.2 million, which has eased back by 2.2% year-on-year. Units have a median price of $1.1 million (+26% YoY). The current median weekly rent is $700. This gives a gross rental yield of approximately 1.6%. The median monthly mortgage repayment is $2,210.
Ashfield is served by 4 schools, including 2 primary, 1 secondary, 1 combined. The average ICSEA score is 1089, which is above the national average of 1,000. Public transport access includes 68 bus stops. Healthcare facilities include 2 private hospitals. The crime rate in the Inner West LGA is below average at 2,883 incidents per 100,000 population.
From an investment perspective, Ashfield shows a gross rental yield of approximately 1.6%, rated as low yield. Property prices are above the state median ($2.2M/$1.5M), placing it in the premium segment. The price-to-income ratio of 22.7x is considered stretched. House prices have moved -2.2% year-on-year. Population growth of +1.0% year-on-year points to stable demand fundamentals. Building approvals have changed +0% year-on-year, indicating steady development activity.