Merewether is a well-established suburb in New South Wales within the Newcastle local government area (postcode 2291). With a population of 11,788, the suburb has an established demographic with a median age of 39. Households earn a median income of $119K per year, with an average household size of 2.4 people. The most common occupations are professionals, managers, community & personal service. The top ancestries reported are English, Australian, Irish.
The median house price in Merewether is $1.8 million, having dropped significantly 18.2% over the past year. Units have a median price of $1.1 million (+18.6% YoY). The current median weekly rent is $750. 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 6,194 incidents per 100,000 population.
From an investment perspective, Merewether offers a gross rental yield of 2.2%, rated as low yield. Property prices are near the state median ($1.8M/$1.5M). The price-to-income ratio of 15.1x is considered stretched. House prices have moved -18.2% year-on-year.
Merewether is a well-established suburb in New South Wales within the Newcastle local government area (postcode 2291). With a population of 11,788, the suburb has an established demographic with a median age of 39. Households earn a median income of $119K per year, with an average household size of 2.4 people. The most common occupations are professionals, managers, community & personal service. The top ancestries reported are English, Australian, Irish.
The median house price in Merewether is $1.8 million, having dropped significantly 18.2% over the past year. Units have a median price of $1.1 million (+18.6% YoY). The current median weekly rent is $750. 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 6,194 incidents per 100,000 population.
From an investment perspective, Merewether offers a gross rental yield of 2.2%, rated as low yield. Property prices are near the state median ($1.8M/$1.5M). The price-to-income ratio of 15.1x is considered stretched. House prices have moved -18.2% year-on-year.