Barraba (postcode 2347) is a close-knit residential community in New South Wales within the Tamworth Regional local government area. The area has roughly 1,329 residents and a predominantly older resident base, with a median age of 58. Households earn a median income of $40K per year, with an average household size of 1.9 people. 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, community & personal service. Employment in the area leans toward healthcare and agriculture. The top ancestries reported are English, Australian, Aboriginal Australian.
Barraba has a median house price of $276,000, which has surged by 11.5% year-on-year. The current median weekly rent is $330. This gives a gross rental yield of approximately 6.2%. The median monthly mortgage repayment is $758.
Barraba is served by 2 schools, including 1 primary, 1 combined. The average ICSEA score is 914, which is below the national average of 1,000. Public transport access includes 1 rail station, 41 bus stops. Healthcare facilities include 1 public hospital. The crime rate in the Tamworth Regional LGA is moderate at 6,891 incidents per 100,000 population.
Looking at the investment signals, Gross rental yield sits at around 6.2% (high yield). Property prices sit below the state median ($276K/$1.5M), which can point to relative value. The price-to-income ratio of 6.8x is considered moderate. House prices have moved +11.5% year-on-year.