Located in New South Wales within the Upper Hunter Shire local government area, Merriwa is a small community (postcode 2329). The area has roughly 1,825 residents and an older-leaning population, with a median age of 45. Households earn a median income of $63K per year, with an average household size of 2.4 people. 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 managers, labourers, machinery operators & drivers. Employment in the area leans toward agriculture and education. The top ancestries reported are Australian, English, Irish.
The median house price in Merriwa is $361,000, having fallen sharply by 14% over the past year. The current median weekly rent is $440. This gives a gross rental yield of approximately 6.3%. The median monthly mortgage repayment is $1,235.
Merriwa is served by 2 schools, including 1 primary, 1 combined. The average ICSEA score is 940, which is below the national average of 1,000. Public transport access includes 4 rail stations, 48 bus stops. Healthcare facilities include 1 public hospital. The crime rate in the Upper Hunter Shire LGA is below average at 3,369 incidents per 100,000 population.
From an investment perspective, The gross rental yield works out to roughly 6.3%, which reads as high yield. Property prices sit below the state median ($361K/$1.5M), which can point to relative value. The price-to-income ratio of 5.7x is considered affordable. House prices have moved -14.0% year-on-year.