Gloucester is a smaller residential area in New South Wales within the Mid-Coast local government area (postcode 2422). It is home to about 3,133 residents, with an older demographic and a median age of 55. Households earn a median income of $51K 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 +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 technicians & trades, community & personal service, labourers. Employment in the area leans toward healthcare and retail trade. The top ancestries reported are English, Australian, Scottish.
Gloucester has a median house price of $535,000, which has declined by 7.4% year-on-year. Units have a median price of $513,000 (+33.1% YoY). The current median weekly rent is $480. This gives a gross rental yield of approximately 4.7%. The median monthly mortgage repayment is $1,300.
Gloucester is served by 3 schools, including 2 primary, 1 secondary. The average ICSEA score is 978, which is around the national average of 1,000. Public transport access includes 2 rail stations, 75 bus stops. Healthcare facilities include 1 public hospital. The crime rate in the Mid-Coast LGA is below average at 3,779 incidents per 100,000 population.
On the investment side, The gross rental yield works out to roughly 4.7%, which reads as moderate yield. Property prices sit below the state median ($535K/$1.5M), which can point to relative value. The price-to-income ratio of 10.4x is considered stretched. House prices have moved -7.4% 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.