Located in New South Wales within the Mid-Coast local government area, Nerong is a quiet locality (postcode 2423). It is home to about 168 residents, with a more retirement-aged population and a median age of 59. Households earn a median income of $45K 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 +0.7% 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 clerical & administrative, labourers, professionals. Employment in the area leans toward construction and education. The top ancestries reported are Australian, English, Irish.
Median house prices in Nerong stand at $409,000, having fallen sharply by 16.6% over the last twelve months. The current median weekly rent is $550. This gives a gross rental yield of approximately 7.0%. The median monthly mortgage repayment is $1,250.
Public transport access includes 5 bus stops. The crime rate in the Mid-Coast LGA is below average at 3,779 incidents per 100,000 population.
Looking at the investment signals, Gross rental yield sits at around 7.0% (high yield). Property prices sit below the state median ($409K/$1.5M), which can point to relative value. The price-to-income ratio of 9.1x is considered moderate. House prices have moved -16.6% year-on-year. Population growth of +0.7% year-on-year points to stable demand fundamentals. Building approvals have changed +0% year-on-year, indicating steady development activity.