Balmain is an established suburb in New South Wales within the Inner West local government area (postcode 2041). It is home to about 10,454 residents, with a settled mid-life population and a median age of 42. Households earn a median income of $158K 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 +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, managers, clerical & administrative. Employment in the area leans toward professional services and finance & insurance. The top ancestries reported are English, Australian, Irish.
Balmain has a median house price of $2.9 million, which has dipped slightly by 1.6% year-on-year. Units have a median price of $1.0 million (-29% YoY). The current median weekly rent is $1125. This gives a gross rental yield of approximately 2.0%. The median monthly mortgage repayment is $3,986.
Balmain is served by 4 schools, including 4 primary. The average ICSEA score is 1163, which is well above the national average of 1,000. Public transport access includes 24 bus stops. Healthcare facilities include 1 public hospital. The crime rate in the Inner West LGA is below average at 2,883 incidents per 100,000 population.
Looking at the investment signals, Balmain shows a gross rental yield of approximately 2.0%, rated as low yield. Property prices are above the state median ($2.9M/$1.5M), placing it in the premium segment. The price-to-income ratio of 18.5x is considered stretched. House prices have moved -1.6% 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.