Located in New South Wales within the Byron local government area, Palmwoods is a small, quiet locality (postcode 2482). It is home to about 78 residents, with an established demographic and a median age of 40. Households earn a median income of $50K per year, with an average household size of 2.5 people. Recent annual estimates show population movement into the broader catchment, with population growth running at +1.8% 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 managers, professionals, technicians & trades. Employment in the area leans toward wholesale trade and education. The top ancestries reported are Australian, English, Irish.
Palmwoods has a median house price of $489,000, which has climbed sharply by 39.7% year-on-year. The current median weekly rent is $742. This gives a gross rental yield of approximately 7.9%. The median monthly mortgage repayment is $1,517.
The crime rate in the Byron LGA is moderate at 4,232 incidents per 100,000 population.
From an investment perspective, Palmwoods shows a gross rental yield of approximately 7.9%, rated as high yield. Property prices sit below the state median ($489K/$1.5M), which can point to relative value. The price-to-income ratio of 9.7x is considered moderate. House prices have moved +39.7% year-on-year. Population growth of +1.8% year-on-year points to stable demand fundamentals. Building approvals have changed +0% year-on-year, indicating steady development activity.