Middle Cove (postcode 2068) is a small community in New South Wales within the Willoughby local government area. The area has roughly 1,327 residents and a settled, mature resident base, with a median age of 45. Households earn a median income of $231K per year, with an average household size of 3 people. Recent annual estimates show population movement staying broadly stable across the broader catchment, with population growth running at +1.0% 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 professional services and finance & insurance. The top ancestries reported are English, Australian, Chinese.
Median house prices in Middle Cove stand at $3.4 million, having increased by 5% over the last twelve months. The current median weekly rent is $1038. This gives a gross rental yield of approximately 1.6%. The median monthly mortgage repayment is $4,000.
Middle Cove is served by 1 school, including 1 combined. The average ICSEA score is 1148, which is well above the national average of 1,000. Public transport access includes 15 bus stops. The crime rate in the Willoughby LGA is below average at 2,205 incidents per 100,000 population.
Looking at the investment signals, The gross rental yield works out to roughly 1.6%, which reads as low yield. Property prices are above the state median ($3.4M/$1.5M), placing it in the premium segment. The price-to-income ratio of 14.7x is considered stretched. House prices have moved +5.0% year-on-year. Population growth of +1.0% year-on-year points to stable demand fundamentals. Building approvals have changed +0% year-on-year, indicating steady development activity.