Garema (postcode 2871) is a sparsely populated locality in New South Wales within the Forbes local government area. With a population of 84, the suburb has a settled, mature resident base with a median age of 50. Households earn a median income of $68K per year, with an average household size of 2.4 people. Recent annual estimates show population movement staying broadly stable across the broader catchment, with population growth running at -0.2% 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 managers, labourers, professionals. Employment in the area leans toward agriculture and retail trade. The top ancestries reported are English, Australian, Irish.
The median house price in Garema is $305,000, broadly unchanged over the past year. The current median weekly rent is $405. This gives a gross rental yield of approximately 6.9%. The median monthly mortgage repayment is $1,567.
Public transport access includes 13 bus stops. The crime rate in the Forbes LGA is moderate at 6,914 incidents per 100,000 population.
On the investment side, Garema shows a gross rental yield of approximately 6.9%, rated as high yield. Property prices sit below the state median ($305K/$1.5M), which can point to relative value. The price-to-income ratio of 4.5x is considered affordable. House prices have moved +0.0% year-on-year. Population growth of -0.2% year-on-year points to declining demand fundamentals. Building approvals have changed +0% year-on-year, indicating steady development activity.