Drake Village is a quiet locality in New South Wales within the Tenterfield local government area (postcode 2469). It is home to about 95 residents, with an older-leaning population and a median age of 54. Households earn a median income of $36K 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 +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, machinery operators & drivers, community & personal service. Employment in the area leans toward agriculture and manufacturing. The top ancestries reported are Australian, English, Irish.
The median house price in Drake Village is $285,000, having jumped by 81% over the past year. The current median weekly rent is $380. This gives a gross rental yield of approximately 6.9%. The median monthly mortgage repayment is $635.
Public transport access includes 7 bus stops. The crime rate in the Tenterfield LGA is moderate at 5,235 incidents per 100,000 population.
On the investment side, The gross rental yield works out to roughly 6.9%, which reads as high yield. Property prices sit below the state median ($285K/$1.5M), which can point to relative value. The price-to-income ratio of 8.0x is considered moderate. House prices have moved +81.0% 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.