Located in New South Wales within the Fairfield local government area, Carramar is a smaller suburb (postcode 2163). With a population of 3,475, the suburb has a settled mid-life population with a median age of 40. Households earn a median income of $56K per year, with an average household size of 2.6 people. Recent annual estimates show population movement staying broadly stable across the broader catchment, with population growth running at +0.6% 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 machinery operators & drivers, professionals, community & personal service. Employment in the area leans toward healthcare and manufacturing. The top ancestries reported are Vietnamese, Chinese, Australian.
Carramar has a median house price of $1.1 million, which has risen steeply by 15% year-on-year. Units have a median price of $1.2 million. The current median weekly rent is $550. This gives a gross rental yield of approximately 2.5%. The median monthly mortgage repayment is $1,500.
Carramar is served by 1 school, including 1 primary. The average ICSEA score is 931, which is below the national average of 1,000. Public transport access includes 1 rail station, 21 bus stops. Healthcare facilities include 1 public hospital. The crime rate in the Fairfield LGA is below average at 2,252 incidents per 100,000 population.
From an investment perspective, The gross rental yield works out to roughly 2.5%, which reads as low yield. Property prices are near the state median ($1.1M/$1.5M). The price-to-income ratio of 20.6x is considered stretched. House prices have moved +15.0% year-on-year. Population growth of +0.6% year-on-year points to stable demand fundamentals. Building approvals have changed +0% year-on-year, indicating steady development activity.