New Italy is a quiet locality in New South Wales within the Richmond Valley local government area (postcode 2472). It is home to about 249 residents, with an established family demographic and a median age of 42. Households earn a median income of $60K per year, with an average household size of 2.6 people. Recent annual estimates show population movement staying broadly stable across the broader catchment, with population growth running at +0.3% year-on-year at the LGA level. NSW employment has moved +1.2% year-on-year in the official ABS Labour Force trend series, which provides the broader jobs backdrop for this suburb. NSW also had 35 Commonwealth-backed major projects under construction, 17 underway, and 67 in planning as at 2025-09-01, which is useful as a broader delivery backdrop rather than a suburb-specific project count. The most common occupations are managers, technicians & trades, labourers. Employment in the area leans toward agriculture and healthcare. The top ancestries reported are English, Australian, Irish.
The median house price in New Italy is $270,000, having fallen sharply by 58.1% over the past year. The current median weekly rent is $630. This gives a gross rental yield of approximately 12.1%. The median monthly mortgage repayment is $1,733.
Public transport access includes 6 bus stops. The crime rate in the Richmond Valley LGA is moderate at 5,127 incidents per 100,000 population.
On the investment side, Gross rental yield sits at around 12.1% (high yield). Property prices sit below the state median ($270K/$1.5M), which can point to relative value. The price-to-income ratio of 4.5x is considered affordable. House prices have moved -58.1% year-on-year. Population growth of +0.3% year-on-year points to stable demand fundamentals. Building approvals have changed +0% year-on-year, indicating steady development activity.