Gelston Park is a small, quiet locality in New South Wales within the Wagga Wagga local government area (postcode 2650). With a population of 160, the suburb has an older-leaning population with a median age of 47. Households earn a median income of $127K per year, with an average household size of 2.8 people. Recent annual estimates show population movement staying broadly stable across the broader catchment, with population growth running at +0.0% 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 professionals, technicians & trades, managers. Employment in the area leans toward professional services and healthcare. The top ancestries reported are English, Australian, Irish.
Median house prices in Gelston Park stand at $1.3 million, having declined steeply by 15.3% over the last twelve months. The current median weekly rent is $540. This gives a gross rental yield of approximately 2.2%. The median monthly mortgage repayment is $2,184.
The crime rate in the Wagga Wagga LGA is moderate at 5,374 incidents per 100,000 population.
On the investment side, The gross rental yield works out to roughly 2.2%, which reads as low yield. Property prices are near the state median ($1.3M/$1.5M). The price-to-income ratio of 9.9x is considered moderate. House prices have moved -15.3% year-on-year. Population growth of +0.0% year-on-year points to stable demand fundamentals. Building approvals have changed +0% year-on-year, indicating steady development activity.