Located in New South Wales within the Balranald local government area, Balranald is a close-knit residential community (postcode 2715). It is home to about 1,240 residents, with a settled, mature resident base and a median age of 47. Households earn a median income of $62K 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 -0.5% 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 labourers, managers, community & personal service. Employment in the area leans toward agriculture and healthcare. The top ancestries reported are English, Australian, Irish.
The median house price in Balranald is $318,000, having dipped slightly by 0.8% over the past year. The current median weekly rent is $410. This gives a gross rental yield of approximately 6.7%. The median monthly mortgage repayment is $893.
Balranald is served by 2 schools, including 1 primary, 1 combined. The average ICSEA score is 884, which is well below the national average of 1,000. Public transport access includes 35 bus stops. Healthcare facilities include 1 public hospital. The crime rate in the Balranald LGA is low at 0 incidents per 100,000 population.
From an investment perspective, Gross rental yield sits at around 6.7% (high yield). Property prices sit below the state median ($318K/$1.5M), which can point to relative value. The price-to-income ratio of 5.1x is considered affordable. House prices have moved -0.8% year-on-year. Population growth of -0.5% year-on-year points to declining demand fundamentals. Building approvals have changed +0% year-on-year, indicating steady development activity.