Located in New South Wales within the Kyogle local government area, New Park is a small, quiet locality (postcode 2474). With a population of 142, the suburb has a mature demographic with a median age of 52. Households earn a median income of $53K per year, with an average household size of 2.2 people. Recent annual estimates show population movement staying broadly stable across the broader catchment, with population growth running at +0.8% 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, managers. Employment in the area leans toward healthcare and construction. The top ancestries reported are English, Australian, Scottish.
New Park has a median house price of $750,000, which has risen steeply by 87.5% year-on-year. The current median weekly rent is $500. This gives a gross rental yield of approximately 3.5%. The median monthly mortgage repayment is $1,106.
Public transport access includes 4 bus stops. The crime rate in the Kyogle LGA is below average at 2,334 incidents per 100,000 population.
From an investment perspective, Gross rental yield sits at around 3.5% (moderate yield). Property prices sit below the state median ($750K/$1.5M), which can point to relative value. The price-to-income ratio of 14.1x is considered stretched. House prices have moved +87.5% year-on-year. Population growth of +0.8% year-on-year points to stable demand fundamentals. Building approvals have changed +0% year-on-year, indicating steady development activity.