Cessnock is a settled mid-to-large suburb in New South Wales within the Cessnock local government area (postcode 2325). With a population of 16,300, the suburb has a settled mid-life population with a median age of 40. Households earn a median income of $62K per year, with an average household size of 2.4 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 technicians & trades, community & personal service, labourers. Employment in the area leans toward healthcare and accommodation & food. The top ancestries reported are Australian, English, Scottish.
Cessnock has a median house price of $775,000, which has surged by 14% year-on-year. Units have a median price of $540,000 (+11.3% YoY). The current median weekly rent is $580. This gives a gross rental yield of approximately 3.9%. The median monthly mortgage repayment is $1,499.
Cessnock is served by 5 schools, including 4 primary, 1 secondary. The average ICSEA score is 892, which is well below the national average of 1,000. Public transport access includes 125 bus stops. Healthcare facilities include 1 public hospital. The crime rate in the Cessnock LGA is moderate at 4,890 incidents per 100,000 population.
On the investment side, Cessnock shows a gross rental yield of approximately 3.9%, rated as moderate yield. Property prices sit below the state median ($775K/$1.5M), which can point to relative value. The price-to-income ratio of 12.5x is considered stretched. House prices have moved +14.0% 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.