Buchanan is a sparsely populated locality in New South Wales within the Cessnock local government area (postcode 2323). The area has roughly 212 residents and an established demographic, with a median age of 38. Households earn a median income of $105K per year, with an average household size of 3 people. Recent annual estimates show population movement into the broader catchment, with population growth running at +2.9% 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, community & personal service, clerical & administrative. Employment in the area leans toward healthcare and manufacturing. The top ancestries reported are Australian, English, Aboriginal Australian.
The median house price in Buchanan is $895,000, having jumped by 14.5% over the past year. The current median weekly rent is $635. This gives a gross rental yield of approximately 3.7%. The median monthly mortgage repayment is $3,000.
Public transport access includes 3 bus stops. The crime rate in the Cessnock LGA is moderate at 4,890 incidents per 100,000 population.
On the investment side, Buchanan shows a gross rental yield of approximately 3.7%, rated as moderate yield. Property prices sit below the state median ($895K/$1.5M), which can point to relative value. The price-to-income ratio of 8.5x is considered moderate. House prices have moved +14.5% year-on-year. Population growth of +2.9% year-on-year points to strong growth demand fundamentals. Building approvals have changed +0% year-on-year, indicating steady development activity.