Spring Terrace is a small, quiet locality in New South Wales within the Cabonne local government area (postcode 2798). With a population of 123, the suburb has a mature demographic with a median age of 50. Households earn a median income of $94K per year, with an average household size of 2.5 people. Recent annual estimates show population movement staying broadly stable across the broader catchment, with population growth running at +0.0% 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, community & personal service. Employment in the area leans toward agriculture and healthcare. The top ancestries reported are Australian, English, Scottish.
The median house price in Spring Terrace is $670,000, broadly unchanged over the past year. The current median weekly rent is $575. This gives a gross rental yield of approximately 4.5%. The median monthly mortgage repayment is $1,943.
Spring Terrace is served by 1 school, including 1 primary. The average ICSEA score is 927, which is below the national average of 1,000. Public transport access includes 16 bus stops. The crime rate in the Cabonne LGA is low at 1,859 incidents per 100,000 population.
From an investment perspective, The gross rental yield works out to roughly 4.5%, which reads as moderate yield. Property prices sit below the state median ($670K/$1.5M), which can point to relative value. The price-to-income ratio of 7.1x is considered moderate. House prices have moved +0.0% year-on-year. Population growth of +0.0% year-on-year points to stable demand fundamentals. Building approvals have changed +0% year-on-year, indicating steady development activity.