Somerton is a quiet locality in New South Wales within the Tamworth Regional local government area (postcode 2340). The area has roughly 272 residents and an established demographic, with a median age of 38. Households earn a median income of $76K per year, with an average household size of 2.6 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, labourers. Employment in the area leans toward agriculture and healthcare. The top ancestries reported are Australian, English, Irish.
Somerton has a median house price of $270,000, holding roughly steady year-on-year. The current median weekly rent is $480. This gives a gross rental yield of approximately 9.2%. The median monthly mortgage repayment is $1,387.
Somerton is served by 1 school, including 1 primary. The average ICSEA score is 895, which is well below the national average of 1,000. Public transport access includes 18 bus stops. The crime rate in the Tamworth Regional LGA is moderate at 6,891 incidents per 100,000 population.
From an investment perspective, The gross rental yield works out to roughly 9.2%, which reads as high yield. Property prices sit below the state median ($270K/$1.5M), which can point to relative value. The price-to-income ratio of 3.6x is considered affordable. House prices have moved +0.0% year-on-year.