Located in New South Wales within the Lake Macquarie local government area, Morisset is a smaller residential area (postcode 2264). With a population of 4,078, the suburb has a mature demographic with a median age of 53. Households earn a median income of $50K per year, with an average household size of 2.1 people. Recent annual estimates show population movement staying broadly stable across the broader catchment, with population growth running at +1.1% 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, community & personal service, technicians & trades. Employment in the area leans toward healthcare and construction. The top ancestries reported are English, Australian, Irish.
The median house price in Morisset is $953,000, having posted strong gains by 6% over the past year. Units have a median price of $685,000 (+25.7% YoY). The current median weekly rent is $672. This gives a gross rental yield of approximately 3.7%. The median monthly mortgage repayment is $1,647.
Morisset is served by 4 schools, including 2 primary, 1 secondary, 1 combined. The average ICSEA score is 953, which is around the national average of 1,000. Public transport access includes 1 rail station, 22 bus stops. Healthcare facilities include 1 public hospital. The crime rate in the Lake Macquarie LGA is below average at 3,436 incidents per 100,000 population.
Looking at the investment signals, The gross rental yield works out to roughly 3.7%, which reads as moderate yield. Property prices sit below the state median ($953K/$1.5M), which can point to relative value. The price-to-income ratio of 19.1x is considered stretched. House prices have moved +6.0% year-on-year. Population growth of +1.1% year-on-year points to stable demand fundamentals. Building approvals have changed +0% year-on-year, indicating steady development activity.