Tea Gardens is a smaller suburb in New South Wales within the Mid-Coast local government area (postcode 2324). With a population of 3,288, the suburb has an older demographic with a median age of 69. Households earn a median income of $52K per year, with an average household size of 1.9 people. The most common occupations are community & personal service, technicians & trades, labourers. The top ancestries reported are English, Australian, Irish.
The median house price in Tea Gardens is $710,000, having dropped significantly 24.1% over the past year. Units have a median price of $560,000 (-0.4% YoY). The current median weekly rent is $578. This gives a gross rental yield of approximately 4.2%. The median monthly mortgage repayment is $1,420.
Tea Gardens is served by 1 school, including 1 primary. The average ICSEA score is 934, which is below the national average of 1,000. Public transport access includes 18 bus stops. The crime rate in the Mid-Coast LGA is below average at 3,753 incidents per 100,000 population.
From an investment perspective, Tea Gardens offers a gross rental yield of 4.2%, rated as moderate yield. Property prices sit below the state median ($710K/$1.5M), suggesting a potential value opportunity. The price-to-income ratio of 13.8x is considered stretched. House prices have moved -24.1% year-on-year.
Tea Gardens is a smaller suburb in New South Wales within the Mid-Coast local government area (postcode 2324). With a population of 3,288, the suburb has an older demographic with a median age of 69. Households earn a median income of $52K per year, with an average household size of 1.9 people. The most common occupations are community & personal service, technicians & trades, labourers. The top ancestries reported are English, Australian, Irish.
The median house price in Tea Gardens is $710,000, having dropped significantly 24.1% over the past year. Units have a median price of $560,000 (-0.4% YoY). The current median weekly rent is $578. This gives a gross rental yield of approximately 4.2%. The median monthly mortgage repayment is $1,420.
Tea Gardens is served by 1 school, including 1 primary. The average ICSEA score is 934, which is below the national average of 1,000. Public transport access includes 18 bus stops. The crime rate in the Mid-Coast LGA is below average at 3,753 incidents per 100,000 population.
From an investment perspective, Tea Gardens offers a gross rental yield of 4.2%, rated as moderate yield. Property prices sit below the state median ($710K/$1.5M), suggesting a potential value opportunity. The price-to-income ratio of 13.8x is considered stretched. House prices have moved -24.1% year-on-year.