Drake is a quiet locality in New South Wales within the Tenterfield local government area (postcode 2469). With a population of 244, the suburb has an older demographic with a median age of 57. Households earn a median income of $36K per year, with an average household size of 1.8 people. The most common occupations are labourers, clerical & administrative, community & personal service. The top ancestries reported are English, Australian, Scottish.
The median house price in Drake is $480,000, having surged 88.4% over the past year. The current median weekly rent is $490. This gives a gross rental yield of approximately 5.3%. The median monthly mortgage repayment is $604.
Drake is served by 1 school, including 1 primary. The average ICSEA score is 928, which is below the national average of 1,000. Public transport access includes 9 bus stops. The crime rate in the Tenterfield LGA is moderate at 5,154 incidents per 100,000 population.
From an investment perspective, Drake offers a gross rental yield of 5.3%, rated as high yield. Property prices sit below the state median ($480K/$1.5M), suggesting a potential value opportunity. The price-to-income ratio of 13.2x is considered stretched. House prices have moved +88.4% year-on-year.
Drake is a quiet locality in New South Wales within the Tenterfield local government area (postcode 2469). With a population of 244, the suburb has an older demographic with a median age of 57. Households earn a median income of $36K per year, with an average household size of 1.8 people. The most common occupations are labourers, clerical & administrative, community & personal service. The top ancestries reported are English, Australian, Scottish.
The median house price in Drake is $480,000, having surged 88.4% over the past year. The current median weekly rent is $490. This gives a gross rental yield of approximately 5.3%. The median monthly mortgage repayment is $604.
Drake is served by 1 school, including 1 primary. The average ICSEA score is 928, which is below the national average of 1,000. Public transport access includes 9 bus stops. The crime rate in the Tenterfield LGA is moderate at 5,154 incidents per 100,000 population.
From an investment perspective, Drake offers a gross rental yield of 5.3%, rated as high yield. Property prices sit below the state median ($480K/$1.5M), suggesting a potential value opportunity. The price-to-income ratio of 13.2x is considered stretched. House prices have moved +88.4% year-on-year.