Hay is a smaller suburb in New South Wales within the Hay local government area (postcode 2711). It is home to about 2,300 residents, with an older-leaning population and a median age of 47. Households earn a median income of $60K 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 +1.1% 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, technicians & trades, managers. Employment in the area leans toward agriculture and retail trade. The top ancestries reported are English, Australian, Irish.
Hay has a median house price of $270,000, which has edged higher by 1.9% year-on-year. The current median weekly rent is $290. This gives a gross rental yield of approximately 5.6%. The median monthly mortgage repayment is $867.
Hay is served by 3 schools, including 2 primary, 1 secondary. The average ICSEA score is 933, which is below the national average of 1,000. Public transport access includes 5 bus stops. Healthcare facilities include 1 public hospital. The crime rate in the Hay LGA is low at 0 incidents per 100,000 population.
Looking at the investment signals, The gross rental yield works out to roughly 5.6%, which reads as high yield. Property prices sit below the state median ($270K/$1.5M), which can point to relative value. The price-to-income ratio of 4.5x is considered affordable. House prices have moved +1.9% year-on-year. Population growth of +1.1% year-on-year points to stable demand fundamentals. Building approvals have changed +0% year-on-year, indicating steady development activity.