Redbank is a sparsely populated locality in New South Wales within the Port Macquarie-Hastings local government area (postcode 2446). It is home to about 404 residents, with an older-leaning population and a median age of 48. Households earn a median income of $95K per year, with an average household size of 2.7 people. Recent annual estimates show population movement staying broadly stable across the broader catchment, with population growth running at +1.5% 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 managers, professionals, technicians & trades. Employment in the area leans toward healthcare and construction. The top ancestries reported are Australian, English, Scottish.
Median house prices in Redbank stand at $1.1 million, having surged by 15.6% over the last twelve months. The current median weekly rent is $535. This gives a gross rental yield of approximately 2.5%. The median monthly mortgage repayment is $1,767.
Public transport access includes 4 bus stops. The crime rate in the Port Macquarie-Hastings LGA is below average at 3,587 incidents per 100,000 population.
On the investment side, Gross rental yield sits at around 2.5% (low yield). Property prices are near the state median ($1.1M/$1.5M). The price-to-income ratio of 11.8x is considered stretched. House prices have moved +15.6% year-on-year. Population growth of +1.5% year-on-year points to stable demand fundamentals. Building approvals have changed +0% year-on-year, indicating steady development activity.