Millbank is a quiet locality in New South Wales within the Kempsey local government area (postcode 2440). With a population of 113, the suburb has an older demographic with a median age of 59. Households earn a median income of $40K per year, with an average household size of 1.9 people. The most common occupations are managers, community & personal service, labourers. The top ancestries reported are Australian, English, Scottish.
The median house price in Millbank is $1.7 million, having surged 179.2% over the past year. The current median weekly rent is $460. This gives a gross rental yield of approximately 1.4%. The median monthly mortgage repayment is $605.
Public transport access includes 14 bus stops. The crime rate in the Kempsey LGA is moderate at 7,195 incidents per 100,000 population.
From an investment perspective, Millbank offers a gross rental yield of 1.4%, rated as low yield. Property prices are near the state median ($1.7M/$1.5M). The price-to-income ratio of 41.6x is considered stretched. House prices have moved +179.2% year-on-year.
Millbank is a quiet locality in New South Wales within the Kempsey local government area (postcode 2440). With a population of 113, the suburb has an older demographic with a median age of 59. Households earn a median income of $40K per year, with an average household size of 1.9 people. The most common occupations are managers, community & personal service, labourers. The top ancestries reported are Australian, English, Scottish.
The median house price in Millbank is $1.7 million, having surged 179.2% over the past year. The current median weekly rent is $460. This gives a gross rental yield of approximately 1.4%. The median monthly mortgage repayment is $605.
Public transport access includes 14 bus stops. The crime rate in the Kempsey LGA is moderate at 7,195 incidents per 100,000 population.
From an investment perspective, Millbank offers a gross rental yield of 1.4%, rated as low yield. Property prices are near the state median ($1.7M/$1.5M). The price-to-income ratio of 41.6x is considered stretched. House prices have moved +179.2% year-on-year.