Located in New South Wales within the Inverell local government area, Gilgai is a small community (postcode 2360). It is home to about 740 residents, with a settled, mature resident base and a median age of 45. Households earn a median income of $60K per year, with an average household size of 2.5 people. Recent annual estimates show population movement staying broadly stable across the broader catchment, with population growth running at +0.1% 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, community & personal service, technicians & trades. Employment in the area leans toward retail trade and healthcare. The top ancestries reported are Australian, English, Aboriginal Australian.
The median house price in Gilgai is $670,000, having surged by 123.7% over the past year. The current median weekly rent is $420. This gives a gross rental yield of approximately 3.3%. The median monthly mortgage repayment is $1,250.
Gilgai is served by 1 school, including 1 primary. The average ICSEA score is 843, which is well below the national average of 1,000. Public transport access includes 23 bus stops. The crime rate in the Inverell LGA is moderate at 5,178 incidents per 100,000 population.
On the investment side, The gross rental yield works out to roughly 3.3%, which reads as moderate yield. Property prices sit below the state median ($670K/$1.5M), which can point to relative value. The price-to-income ratio of 11.2x is considered stretched. House prices have moved +123.7% year-on-year. Population growth of +0.1% year-on-year points to stable demand fundamentals. Building approvals have changed +0% year-on-year, indicating steady development activity.