Merewether is a settled mid-to-large suburb in New South Wales within the Newcastle local government area (postcode 2291). It is home to about 11,788 residents, with an established family demographic and a median age of 39. Households earn a median income of $119K per year, with an average household size of 2.4 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 professionals, managers, community & personal service. Employment in the area leans toward healthcare and education. The top ancestries reported are English, Australian, Irish.
Merewether has a median house price of $1.7 million, which has dropped significantly by 22.7% year-on-year. Units have a median price of $928,000 (+4.2% YoY). The current median weekly rent is $735. This gives a gross rental yield of approximately 2.2%. The median monthly mortgage repayment is $2,457.
Merewether is served by 4 schools, including 4 primary. The average ICSEA score is 1086, which is above the national average of 1,000. Public transport access includes 1 rail station, 84 bus stops. Healthcare facilities include 1 private hospital. The crime rate in the Newcastle LGA is moderate at 6,285 incidents per 100,000 population.
Looking at the investment signals, Gross rental yield sits at around 2.2% (low yield). Property prices are near the state median ($1.7M/$1.5M). The price-to-income ratio of 14.3x is considered stretched. House prices have moved -22.7% 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.