Located in New South Wales within the Cessnock local government area, Paxton is a small locality (postcode 2325). With a population of 1,215, the suburb has a mix of young professionals and families with a median age of 33. Households earn a median income of $88K per year, with an average household size of 2.9 people. Recent annual estimates show population movement into the broader catchment, with population growth running at +2.9% 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 technicians & trades, labourers, machinery operators & drivers. Employment in the area leans toward healthcare and construction. The top ancestries reported are Australian, English, Irish.
The median house price in Paxton is $715,000, having declined by 3.4% over the past year. The current median weekly rent is $580. This gives a gross rental yield of approximately 4.2%. The median monthly mortgage repayment is $1,671.
Paxton is served by 1 school, including 1 primary. The average ICSEA score is 926, which is below the national average of 1,000. Public transport access includes 7 bus stops. The crime rate in the Cessnock LGA is moderate at 4,890 incidents per 100,000 population.
On the investment side, The gross rental yield works out to roughly 4.2%, which reads as moderate yield. Property prices sit below the state median ($715K/$1.5M), which can point to relative value. The price-to-income ratio of 8.1x is considered moderate. House prices have moved -3.4% year-on-year. Population growth of +2.9% year-on-year points to strong growth demand fundamentals. Building approvals have changed +0% year-on-year, indicating steady development activity.