Millfield is a small community in New South Wales within the Cessnock local government area (postcode 2325). With a population of 1,282, the suburb has an established demographic with a median age of 38. Households earn a median income of $87K per year, with an average household size of 2.8 people. The most common occupations are technicians & trades, community & personal service, managers. The top ancestries reported are Australian, English, Irish.
The median house price in Millfield is $867,000, having dipped slightly 0.9% over the past year. The current median weekly rent is $550. This gives a gross rental yield of approximately 3.3%. The median monthly mortgage repayment is $1,794.
Millfield is served by 1 school, including 1 primary. The average ICSEA score is 932, which is below the national average of 1,000. Public transport access includes 13 bus stops. The crime rate in the Cessnock LGA is moderate at 4,766 incidents per 100,000 population.
From an investment perspective, Millfield offers a gross rental yield of 3.3%, rated as moderate yield. Property prices sit below the state median ($867K/$1.5M), suggesting a potential value opportunity. The price-to-income ratio of 10.0x is considered moderate. House prices have moved -0.9% year-on-year.
Millfield is a small community in New South Wales within the Cessnock local government area (postcode 2325). With a population of 1,282, the suburb has an established demographic with a median age of 38. Households earn a median income of $87K per year, with an average household size of 2.8 people. The most common occupations are technicians & trades, community & personal service, managers. The top ancestries reported are Australian, English, Irish.
The median house price in Millfield is $867,000, having dipped slightly 0.9% over the past year. The current median weekly rent is $550. This gives a gross rental yield of approximately 3.3%. The median monthly mortgage repayment is $1,794.
Millfield is served by 1 school, including 1 primary. The average ICSEA score is 932, which is below the national average of 1,000. Public transport access includes 13 bus stops. The crime rate in the Cessnock LGA is moderate at 4,766 incidents per 100,000 population.
From an investment perspective, Millfield offers a gross rental yield of 3.3%, rated as moderate yield. Property prices sit below the state median ($867K/$1.5M), suggesting a potential value opportunity. The price-to-income ratio of 10.0x is considered moderate. House prices have moved -0.9% year-on-year.