Corangula (postcode 2440) is a quiet locality in New South Wales within the Kempsey local government area. The area has roughly 22 residents and an older demographic, with a median age of 62. Households earn a median income of $58K per year, with an average household size of 2.2 people. Recent annual estimates show population movement staying broadly stable across the broader catchment, with population growth running at +0.4% 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 top ancestries reported are English, Australian.
The median house price in Corangula is $295,000, broadly unchanged over the past year. The current median weekly rent is $460. This gives a gross rental yield of approximately 8.1%. The median monthly mortgage repayment is $1,482.
The crime rate in the Kempsey LGA is moderate at 7,255 incidents per 100,000 population.
Looking at the investment signals, The gross rental yield works out to roughly 8.1%, which reads as high yield. Property prices sit below the state median ($295K/$1.5M), which can point to relative value. The price-to-income ratio of 5.0x is considered affordable. House prices have moved +0.0% year-on-year. Population growth of +0.4% year-on-year points to stable demand fundamentals. Building approvals have changed +0% year-on-year, indicating steady development activity.