Barellan (postcode 2665) is a small, quiet locality in New South Wales within the Narrandera local government area. It is home to about 459 residents, with a settled, mature resident base and a median age of 48. Households earn a median income of $66K 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 managers, labourers, machinery operators & drivers. Employment in the area leans toward agriculture and manufacturing. The top ancestries reported are English, Australian, Irish.
Median house prices in Barellan stand at $230,000, having surged by 23.1% over the last twelve months. The current median weekly rent is $240. This gives a gross rental yield of approximately 5.4%. The median monthly mortgage repayment is $744.
Barellan is served by 1 school, including 1 combined. The average ICSEA score is 894, which is well below the national average of 1,000. Public transport access includes 26 bus stops. The crime rate in the Narrandera LGA is moderate at 6,588 incidents per 100,000 population.
From an investment perspective, The gross rental yield works out to roughly 5.4%, which reads as high yield. Property prices sit below the state median ($230K/$1.5M), which can point to relative value. The price-to-income ratio of 3.5x is considered affordable. House prices have moved +23.1% 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.