Burren Junction is a small, quiet locality in New South Wales within the Walgett local government area (postcode 2386). It is home to about 225 residents, with an older-leaning population and a median age of 49. Households earn a median income of $58K per year, with an average household size of 2.5 people. Recent annual estimates show population movement softening across the broader catchment, with population growth running at -1.5% 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, professionals, labourers. Employment in the area leans toward agriculture and education. The top ancestries reported are Australian, English, Irish.
Median house prices in Burren Junction stand at $80,000, having dropped significantly by 38.5% over the last twelve months. The median weekly rent is $118 (Census 2021). This gives a gross rental yield of approximately 7.7%. The median monthly mortgage repayment is $163.
Burren Junction is served by 1 school, including 1 primary. The average ICSEA score is 969, which is around the national average of 1,000. Public transport access includes 18 bus stops. The crime rate in the Walgett LGA is higher than average at 12,448 incidents per 100,000 population.
On the investment side, The gross rental yield works out to roughly 7.7%, which reads as high yield. Property prices sit below the state median ($80K/$1.5M), which can point to relative value. The price-to-income ratio of 1.4x is considered affordable. House prices have moved -38.5% year-on-year. Population growth of -1.5% year-on-year points to declining demand fundamentals. Building approvals have changed +0% year-on-year, indicating steady development activity.