Clarence is a quiet locality in New South Wales within the Lithgow local government area (postcode 2790). It is home to about 200 residents, with an older-leaning population and a median age of 52. Households earn a median income of $93K per year, with an average household size of 2.5 people. Recent annual estimates show population movement staying broadly stable across the broader catchment, with population growth running at -0.5% 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 technicians & trades, clerical & administrative, machinery operators & drivers. Employment in the area leans toward public admin & safety and transport & logistics. The top ancestries reported are English, Australian, Scottish.
Clarence has a median house price of $313,000, which has declined steeply by 47% year-on-year. The current median weekly rent is $440. This gives a gross rental yield of approximately 7.3%. The median monthly mortgage repayment is $2,050.
Public transport access includes 1 rail station, 3 bus stops. The crime rate in the Lithgow LGA is moderate at 4,772 incidents per 100,000 population.
On the investment side, Clarence shows a gross rental yield of approximately 7.3%, rated as high yield. Property prices sit below the state median ($313K/$1.5M), which can point to relative value. The price-to-income ratio of 3.4x is considered affordable. House prices have moved -47.0% year-on-year. Population growth of -0.5% year-on-year points to declining demand fundamentals. Building approvals have changed +0% year-on-year, indicating steady development activity.