Located in New South Wales within the Randwick local government area, Clovelly is a smaller residential area (postcode 2031). It is home to about 4,887 residents, with a mix of families and early-career residents and a median age of 37. Households earn a median income of $181K 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 +1.2% 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, managers, clerical & administrative. Employment in the area leans toward professional services and healthcare. The top ancestries reported are English, Australian, Irish.
Median house prices in Clovelly stand at $5.3 million, having climbed sharply by 14% over the last twelve months. Units have a median price of $2.0 million (+12.5% YoY). The current median weekly rent is $930. This gives a gross rental yield of approximately 0.9%. The median monthly mortgage repayment is $4,333.
Clovelly is served by 1 school, including 1 primary. The average ICSEA score is 1148, which is well above the national average of 1,000. Public transport access includes 18 bus stops. The crime rate in the Randwick LGA is below average at 2,628 incidents per 100,000 population.
From an investment perspective, Gross rental yield sits at around 0.9% (low yield). Property prices are above the state median ($5.3M/$1.5M), placing it in the premium segment. The price-to-income ratio of 29.3x is considered stretched. House prices have moved +14.0% year-on-year. Population growth of +1.2% year-on-year points to stable demand fundamentals. Building approvals have changed +0% year-on-year, indicating steady development activity.