Coonamble (postcode 2829) is a smaller residential area in New South Wales within the Coonamble local government area. It is home to about 2,666 residents, with an established family demographic and a median age of 38. Households earn a median income of $63K per year, with an average household size of 2.4 people. Recent annual estimates show population movement staying broadly stable across the broader catchment, with population growth running at +0.3% 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 community & personal service, managers, professionals. Employment in the area leans toward healthcare and education. The top ancestries reported are Australian, Aboriginal Australian, English.
The median house price in Coonamble is $153,000, having dropped significantly by 21.8% over the past year. The current median weekly rent is $305. This gives a gross rental yield of approximately 10.4%. The median monthly mortgage repayment is $883.
Coonamble is served by 3 schools, including 2 primary, 1 secondary. The average ICSEA score is 792, which is well below the national average of 1,000. Public transport access includes 2 tram stops, 67 bus stops. Healthcare facilities include 1 public hospital. The crime rate in the Coonamble LGA is higher than average at 8,806 incidents per 100,000 population.
Looking at the investment signals, The gross rental yield works out to roughly 10.4%, which reads as high yield. Property prices sit below the state median ($153K/$1.5M), which can point to relative value. The price-to-income ratio of 2.4x is considered affordable. House prices have moved -21.8% year-on-year. Population growth of +0.3% year-on-year points to stable demand fundamentals. Building approvals have changed +0% year-on-year, indicating steady development activity.