Melrose Park (postcode 2114) is a compact suburb in New South Wales within the Ryde local government area. The area has roughly 2,059 residents and a mix of families and early-career residents, with a median age of 37. Households earn a median income of $113K per year, with an average household size of 2.7 people. Recent annual estimates show population movement into the broader catchment, with population growth running at +1.8% 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 professionals, managers, clerical & administrative. Employment in the area leans toward healthcare and professional services. The top ancestries reported are Chinese, English, Australian.
Melrose Park has a median house price of $2.5 million, which has grown strongly by 8.3% year-on-year. Units have a median price of $800,000 (+4.2% YoY). The current median weekly rent is $700. This gives a gross rental yield of approximately 1.5%. The median monthly mortgage repayment is $2,600.
Public transport access includes 9 ferry wharfves, 12 bus stops. The crime rate in the Ryde LGA is below average at 2,087 incidents per 100,000 population.
From an investment perspective, The gross rental yield works out to roughly 1.5%, which reads as low yield. Property prices are above the state median ($2.5M/$1.5M), placing it in the premium segment. The price-to-income ratio of 21.6x is considered stretched. House prices have moved +8.3% year-on-year. Population growth of +1.8% year-on-year points to stable demand fundamentals. Building approvals have changed +0% year-on-year, indicating steady development activity.