Located in New South Wales within the Newcastle local government area, Beresfield is a compact suburb (postcode 2322). With a population of 3,267, the suburb has a settled mid-life population with a median age of 39. Households earn a median income of $65K 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 +1.1% 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, technicians & trades, community & personal service. Employment in the area leans toward healthcare and manufacturing. The top ancestries reported are English, Australian, Scottish.
Beresfield has a median house price of $833,000, which has surged by 19.8% year-on-year. Units have a median price of $539,000 (+2% YoY). The current median weekly rent is $680. This gives a gross rental yield of approximately 4.2%. The median monthly mortgage repayment is $1,484.
Beresfield is served by 2 schools, including 1 primary, 1 secondary. The average ICSEA score is 915, which is below the national average of 1,000. Public transport access includes 1 rail station, 27 bus stops. The crime rate in the Newcastle LGA is moderate at 6,285 incidents per 100,000 population.
Looking at the investment signals, The gross rental yield works out to roughly 4.2%, which reads as moderate yield. Property prices sit below the state median ($833K/$1.5M), which can point to relative value. The price-to-income ratio of 12.7x is considered stretched. House prices have moved +19.8% year-on-year. Population growth of +1.1% year-on-year points to stable demand fundamentals. Building approvals have changed +0% year-on-year, indicating steady development activity.