Located in New South Wales within the Sydney local government area, Millers Point is a small community (postcode 2000). It is home to about 1,735 residents, with an established family demographic and a median age of 43. Households earn a median income of $164K per year, with an average household size of 1.9 people. Recent annual estimates show population movement into the broader catchment, with population growth running at +1.8% 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, Irish.
The median house price in Millers Point is $2.7 million, having fallen sharply by 28.8% over the past year. Units have a median price of $2.0 million (+9.9% YoY). The current median weekly rent is $1100. This gives a gross rental yield of approximately 2.1%. The median monthly mortgage repayment is $3,900.
Public transport access includes 1 rail station, 6 bus stops. The crime rate in the Sydney LGA is moderate at 7,608 incidents per 100,000 population.
From an investment perspective, Gross rental yield sits at around 2.1% (low yield). Property prices are above the state median ($2.7M/$1.5M), placing it in the premium segment. The price-to-income ratio of 16.6x is considered stretched. House prices have moved -28.8% year-on-year. Population growth of +1.8% year-on-year points to stable demand fundamentals. Building approvals have changed +0% year-on-year, indicating steady development activity.