Corlette is a mid-sized suburb in New South Wales within the Port Stephens local government area (postcode 2315). The area has roughly 5,699 residents and an older-leaning population, with a median age of 52. Households earn a median income of $81K 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 +1.3% 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 professionals, managers, community & personal service. Employment in the area leans toward healthcare and accommodation & food. The top ancestries reported are English, Australian, Irish.
The median house price in Corlette is $1.0 million, having fallen sharply by 13.3% over the past year. Units have a median price of $838,000 (-2.8% YoY). The current median weekly rent is $650. This gives a gross rental yield of approximately 3.3%. The median monthly mortgage repayment is $1,950.
Public transport access includes 42 bus stops. The crime rate in the Port Stephens LGA is below average at 3,152 incidents per 100,000 population.
From an investment perspective, Corlette shows a gross rental yield of approximately 3.3%, rated as moderate yield. Property prices sit below the state median ($1.0M/$1.5M), which can point to relative value. The price-to-income ratio of 12.8x is considered stretched. House prices have moved -13.3% year-on-year. Population growth of +1.3% year-on-year points to stable demand fundamentals. Building approvals have changed +0% year-on-year, indicating steady development activity.