Newcastle West (postcode 2302) is a close-knit residential community in New South Wales within the Newcastle local government area. With a population of 1,453, the suburb has an established family demographic with a median age of 42. Households earn a median income of $85K per year, with an average household size of 1.7 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, community & personal service. Employment in the area leans toward healthcare and professional services. The top ancestries reported are English, Australian, Irish.
The median house price in Newcastle West is $1.3 million, broadly unchanged over the past year. Units have a median price of $1.6 million (+93.8% YoY). The current median weekly rent is $715. This gives a gross rental yield of approximately 3.0%. The median monthly mortgage repayment is $1,907.
Newcastle West is served by 1 school, including 1 secondary. The average ICSEA score is 1077, which is above the national average of 1,000. Public transport access includes 23 bus stops. Healthcare facilities include 1 private hospital. The crime rate in the Newcastle LGA is moderate at 6,285 incidents per 100,000 population.
On the investment side, The gross rental yield works out to roughly 3.0%, which reads as low yield. Property prices are near the state median ($1.3M/$1.5M). The price-to-income ratio of 14.7x is considered stretched. House prices have moved +0.0% 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.