Erowal Bay is a small locality in New South Wales within the Shoalhaven local government area (postcode 2540). The area has roughly 652 residents and an older-leaning population, with a median age of 49. Households earn a median income of $73K per year, with an average household size of 2.3 people. Recent annual estimates show population movement staying broadly stable across the broader catchment, with population growth running at +0.7% 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, technicians & trades, community & personal service. Employment in the area leans toward healthcare and education. The top ancestries reported are English, Australian, Irish.
The median house price in Erowal Bay is $918,000, having eased back by 2.2% over the past year. The current median weekly rent is $580. This gives a gross rental yield of approximately 3.3%. The median monthly mortgage repayment is $1,517.
Public transport access includes 11 bus stops. The crime rate in the Shoalhaven LGA is below average at 3,639 incidents per 100,000 population.
From an investment perspective, Gross rental yield sits at around 3.3% (moderate yield). Property prices sit below the state median ($918K/$1.5M), which can point to relative value. The price-to-income ratio of 12.5x is considered stretched. House prices have moved -2.2% year-on-year. Population growth of +0.7% year-on-year points to stable demand fundamentals. Building approvals have changed +0% year-on-year, indicating steady development activity.