Located in New South Wales within the Woollahra local government area, Double Bay is a compact suburb (postcode 2028). With a population of 4,709, the suburb has a settled mid-life population with a median age of 39. Households earn a median income of $160K per year, with an average household size of 2.1 people. Recent annual estimates show population movement staying broadly stable across the broader catchment, with population growth running at +0.0% 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 finance & insurance. The top ancestries reported are English, Australian, Irish.
Median house prices in Double Bay stand at $7.3 million, having fallen by 3.4% over the last twelve months. Units have a median price of $1.8 million (-10.3% YoY). The current median weekly rent is $1150. This gives a gross rental yield of approximately 0.8%. The median monthly mortgage repayment is $3,000.
Double Bay is served by 1 school, including 1 primary. The average ICSEA score is 1135, which is well above the national average of 1,000. Public transport access includes 1 ferry wharf, 13 bus stops. Healthcare facilities include 1 private hospital. The crime rate in the Woollahra LGA is low at 1,941 incidents per 100,000 population.
On the investment side, The gross rental yield works out to roughly 0.8%, which reads as low yield. Property prices are above the state median ($7.3M/$1.5M), placing it in the premium segment. The price-to-income ratio of 45.9x is considered stretched. House prices have moved -3.4% year-on-year. Population growth of +0.0% year-on-year points to stable demand fundamentals. Building approvals have changed +0% year-on-year, indicating steady development activity.