Located in New South Wales within the Tenterfield local government area, Drake is a sparsely populated locality (postcode 2469). It is home to about 244 residents, with a predominantly older resident base and a median age of 57. Households earn a median income of $36K per year, with an average household size of 1.8 people. Recent annual estimates show population movement staying broadly stable across the broader catchment, with population growth running at +1.0% 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 labourers, clerical & administrative, community & personal service. Employment in the area leans toward agriculture and education. The top ancestries reported are English, Australian, Scottish.
Median house prices in Drake stand at $368,000, having increased by 2.8% over the last twelve months. The current median weekly rent is $380. This gives a gross rental yield of approximately 5.4%. 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 5,235 incidents per 100,000 population.
On the investment side, Gross rental yield sits at around 5.4% (high yield). Property prices sit below the state median ($368K/$1.5M), which can point to relative value. The price-to-income ratio of 10.1x is considered stretched. House prices have moved +2.8% year-on-year. Population growth of +1.0% year-on-year points to stable demand fundamentals. Building approvals have changed +0% year-on-year, indicating steady development activity.