Bankstown (postcode 2200) is a sizeable suburb in New South Wales within the Canterbury-Bankstown local government area. The area has roughly 34,933 residents and a mix of young professionals and families, with a median age of 34. Households earn a median income of $69K per year, with an average household size of 2.9 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, community & personal service. Employment in the area leans toward healthcare and retail trade. The top ancestries reported are Vietnamese, Lebanese, Chinese.
The median house price in Bankstown is $1.9 million, having risen steeply by 28.8% over the past year. Units have a median price of $635,000 (+7.3% YoY). The current median weekly rent is $620. This gives a gross rental yield of approximately 1.7%. The median monthly mortgage repayment is $1,800.
Bankstown is served by 12 schools, including 7 primary, 3 secondary, 1 combined, 1 special. The average ICSEA score is 982, which is around the national average of 1,000. Public transport access includes 118 bus stops. Healthcare facilities include 1 public and 1 private hospitals. The crime rate in the Canterbury-Bankstown LGA is below average at 2,382 incidents per 100,000 population.
From an investment perspective, Gross rental yield sits at around 1.7% (low yield). Property prices are near the state median ($1.9M/$1.5M). The price-to-income ratio of 28.1x is considered stretched. House prices have moved +28.8% 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.