Located in New South Wales within the Coffs Harbour local government area, Karangi is a small community (postcode 2450). It is home to about 515 residents, with an established family demographic and a median age of 44. Households earn a median income of $99K per year, with an average household size of 2.7 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, professionals, clerical & administrative. Employment in the area leans toward construction and healthcare. The top ancestries reported are English, Australian, Scottish.
Karangi has a median house price of $1.1 million, which has surged by 29% year-on-year. The current median weekly rent is $600. This gives a gross rental yield of approximately 2.9%. The median monthly mortgage repayment is $1,630.
Karangi is served by 1 school, including 1 primary. The average ICSEA score is 957, which is around the national average of 1,000. Public transport access includes 22 bus stops. The crime rate in the Coffs Harbour LGA is moderate at 5,038 incidents per 100,000 population.
From an investment perspective, Gross rental yield sits at around 2.9% (low yield). Property prices are near the state median ($1.1M/$1.5M). The price-to-income ratio of 10.9x is considered stretched. House prices have moved +29.0% 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.