Located in New South Wales within the Lithgow local government area, Hermitage Flat is a small, quiet locality (postcode 2790). It is home to about 323 residents, with an older-leaning population and a median age of 48. Households earn a median income of $51K per year, with an average household size of 2 people. Recent annual estimates show population movement staying broadly stable across the broader catchment, with population growth running at -0.5% 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, clerical & administrative, labourers. Employment in the area leans toward retail trade and healthcare. The top ancestries reported are English, Australian, Scottish.
Hermitage Flat has a median house price of $400,000, which has increased by 2.6% year-on-year. The current median weekly rent is $440. This gives a gross rental yield of approximately 5.7%. The median monthly mortgage repayment is $1,170.
Public transport access includes 7 bus stops. The crime rate in the Lithgow LGA is moderate at 4,772 incidents per 100,000 population.
From an investment perspective, Gross rental yield sits at around 5.7% (high yield). Property prices sit below the state median ($400K/$1.5M), which can point to relative value. The price-to-income ratio of 7.9x is considered moderate. House prices have moved +2.6% year-on-year. Population growth of -0.5% year-on-year points to declining demand fundamentals. Building approvals have changed +0% year-on-year, indicating steady development activity.