Portland is a smaller suburb in New South Wales within the Lithgow local government area (postcode 2847). It is home to about 2,447 residents, with an older-leaning population and a median age of 46. Households earn a median income of $60K per year, with an average household size of 2.3 people. Recent annual estimates show population movement staying broadly stable across the broader catchment, with population growth running at -0.5% 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, community & personal service, labourers. Employment in the area leans toward healthcare and public admin & safety. The top ancestries reported are English, Australian, Irish.
Median house prices in Portland stand at $548,000, having jumped by 33.5% over the last twelve months. The current median weekly rent is $300. This gives a gross rental yield of approximately 2.8%. The median monthly mortgage repayment is $1,272.
Portland is served by 2 schools, including 1 primary, 1 combined. The average ICSEA score is 884, which is well below the national average of 1,000. Public transport access includes 1 rail station, 63 bus stops. Healthcare facilities include 1 public hospital. The crime rate in the Lithgow LGA is moderate at 4,772 incidents per 100,000 population.
From an investment perspective, Gross rental yield sits at around 2.8% (low yield). Property prices sit below the state median ($548K/$1.5M), which can point to relative value. The price-to-income ratio of 9.2x is considered moderate. House prices have moved +33.5% year-on-year. Population growth of -0.5% year-on-year points to declining demand fundamentals. Building approvals have changed +0% year-on-year, indicating steady development activity.