Grafton (postcode 2460) is a well-established suburb in New South Wales within the Clarence Valley local government area. With a population of 10,563, the suburb has an established family demographic with a median age of 44. Households earn a median income of $61K per year, with an average household size of 2.2 people. Recent annual estimates show population movement staying broadly stable across the broader catchment, with population growth running at +1.2% 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 community & personal service, professionals, technicians & trades. Employment in the area leans toward healthcare and public admin & safety. The top ancestries reported are Australian, English, Irish.
The median house price in Grafton is $550,000, having ticked up by 1.4% over the past year. Units have a median price of $386,000 (-3.5% YoY). The current median weekly rent is $500. This gives a gross rental yield of approximately 4.7%. The median monthly mortgage repayment is $1,348.
Grafton is served by 5 schools, including 3 primary, 1 secondary, 1 combined. The average ICSEA score is 956, which is around the national average of 1,000. Public transport access includes 70 bus stops. Healthcare facilities include 1 public hospital. The crime rate in the Clarence Valley LGA is moderate at 5,045 incidents per 100,000 population.
From an investment perspective, The gross rental yield works out to roughly 4.7%, which reads as moderate yield. Property prices sit below the state median ($550K/$1.5M), which can point to relative value. The price-to-income ratio of 9.0x is considered moderate. House prices have moved +1.4% year-on-year. Population growth of +1.2% year-on-year points to stable demand fundamentals. Building approvals have changed +0% year-on-year, indicating steady development activity.