Medway (postcode 2577) is a quiet locality in New South Wales within the Wingecarribee local government area. With a population of 143, the suburb has a mature demographic with a median age of 47. 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 +0.6% 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, managers. Employment in the area leans toward retail trade and healthcare. The top ancestries reported are English, Australian, Irish.
Median house prices in Medway stand at $1.3 million, having risen steeply by 92.6% over the last twelve months. The current median weekly rent is $690. This gives a gross rental yield of approximately 2.8%. The median monthly mortgage repayment is $1,863.
Public transport access includes 1 rail station, 7 bus stops. The crime rate in the Wingecarribee LGA is low at 1,470 incidents per 100,000 population.
On the investment side, The gross rental yield works out to roughly 2.8%, which reads as low yield. Property prices are near the state median ($1.3M/$1.5M). The price-to-income ratio of 13.2x is considered stretched. House prices have moved +92.6% year-on-year. Population growth of +0.6% year-on-year points to stable demand fundamentals. Building approvals have changed +0% year-on-year, indicating steady development activity.