Newcastle East is a small locality in New South Wales within the Newcastle local government area (postcode 2300). It is home to about 1,061 residents, with an older-leaning population and a median age of 47. Households earn a median income of $98K 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, managers, clerical & administrative. Employment in the area leans toward healthcare and professional services. The top ancestries reported are English, Australian, Irish.
Newcastle East has a median house price of $2.4 million, which has grown strongly by 9.3% year-on-year. Units have a median price of $2.1 million (+44.8% YoY). The current median weekly rent is $695. This gives a gross rental yield of approximately 1.5%. The median monthly mortgage repayment is $3,238.
Public transport access includes 1 ferry wharf, 2 bus stops. The crime rate in the Newcastle LGA is moderate at 6,285 incidents per 100,000 population.
From an investment perspective, The gross rental yield works out to roughly 1.5%, which reads as low yield. Property prices are above the state median ($2.4M/$1.5M), placing it in the premium segment. The price-to-income ratio of 24.3x is considered stretched. House prices have moved +9.3% 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.