Located in New South Wales within the Canterbury-Bankstown local government area, Narwee is a mid-sized suburb (postcode 2209). With a population of 5,411, the suburb has an established family demographic with a median age of 40. Households earn a median income of $74K per year, with an average household size of 2.7 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, clerical & administrative, technicians & trades. Employment in the area leans toward healthcare and retail trade. The top ancestries reported are Chinese, English, Australian.
Median house prices in Narwee stand at $1.6 million, having increased by 4.9% over the last twelve months. Units have a median price of $790,000 (+43% YoY). The current median weekly rent is $675. This gives a gross rental yield of approximately 2.2%. The median monthly mortgage repayment is $2,166.
Narwee is served by 1 school, including 1 primary. The average ICSEA score is 1001, which is around the national average of 1,000. Public transport access includes 2 rail stations, 24 bus stops. The crime rate in the Canterbury-Bankstown LGA is below average at 2,382 incidents per 100,000 population.
From an investment perspective, The gross rental yield works out to roughly 2.2%, which reads as low yield. Property prices are near the state median ($1.6M/$1.5M). The price-to-income ratio of 21.8x is considered stretched. House prices have moved +4.9% 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.