Riverlea is a small, quiet locality in New South Wales within the Mid-Western Regional local government area (postcode 2850). It is home to about 32 residents, with a predominantly older resident base and a median age of 62. Households earn a median income of $50K per year, with an average household size of 1.8 people. 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, sales. Employment in the area leans toward retail trade and manufacturing. The top ancestries reported are English, Australian, Irish.
Median house prices in Riverlea stand at $340,000, having fallen sharply by 22.7% over the last twelve months. The current median weekly rent is $590. This gives a gross rental yield of approximately 9.0%. The median monthly mortgage repayment is $1,265.
The crime rate in the Mid-Western Regional LGA is below average at 3,271 incidents per 100,000 population.
On the investment side, The gross rental yield works out to roughly 9.0%, which reads as high yield. Property prices sit below the state median ($340K/$1.5M), which can point to relative value. The price-to-income ratio of 6.8x is considered moderate. House prices have moved -22.7% year-on-year.