Merewether Heights is a small community in New South Wales within the Newcastle local government area (postcode 2291). It is home to about 1,495 residents, with a settled mid-life population and a median age of 41. Households earn a median income of $157K per year, with an average household size of 2.9 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, clerical & administrative. Employment in the area leans toward healthcare and education. The top ancestries reported are English, Australian, Irish.
Median house prices in Merewether Heights stand at $1.7 million, having softened modestly by 2.3% over the last twelve months. Units have a median price of $525,000. The current median weekly rent is $735. This gives a gross rental yield of approximately 2.2%. The median monthly mortgage repayment is $2,600.
Merewether Heights is served by 1 school, including 1 primary. The average ICSEA score is 1129, which is well above the national average of 1,000. Public transport access includes 14 bus stops. The crime rate in the Newcastle LGA is moderate at 6,285 incidents per 100,000 population.
From an investment perspective, The gross rental yield works out to roughly 2.2%, which reads as low yield. Property prices are near the state median ($1.7M/$1.5M). The price-to-income ratio of 10.9x is considered stretched. House prices have moved -2.3% 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.