Russell Lea (postcode 2046) is a smaller suburb in New South Wales within the Canada Bay local government area. It is home to about 4,920 residents, with an established demographic and a median age of 43. Households earn a median income of $138K per year, with an average household size of 2.6 people. Recent annual estimates show population movement staying broadly stable across the broader catchment, with population growth running at +0.7% 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 professionals, managers, clerical & administrative. Employment in the area leans toward professional services and healthcare. The top ancestries reported are English, Italian, Australian.
Russell Lea has a median house price of $3.3 million, which has risen solidly by 7.7% year-on-year. Units have a median price of $1.4 million (+7.7% YoY). The current median weekly rent is $920. This gives a gross rental yield of approximately 1.4%. The median monthly mortgage repayment is $3,290.
Russell Lea is served by 1 school, including 1 primary. The average ICSEA score is 1140, which is well above the national average of 1,000. Public transport access includes 15 bus stops. The crime rate in the Canada Bay LGA is below average at 2,038 incidents per 100,000 population.
On the investment side, The gross rental yield works out to roughly 1.4%, which reads as low yield. Property prices are above the state median ($3.3M/$1.5M), placing it in the premium segment. The price-to-income ratio of 23.9x is considered stretched. House prices have moved +7.7% year-on-year. Population growth of +0.7% year-on-year points to stable demand fundamentals. Building approvals have changed +0% year-on-year, indicating steady development activity.