The Junction (postcode 2291) is a small community in New South Wales within the Newcastle local government area. The area has roughly 994 residents and an established demographic, with a median age of 43. Households earn a median income of $100K per year, with an average household size of 2.4 people. Recent annual estimates show population movement staying broadly stable across the broader catchment, with population growth running at +1.1% 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 healthcare and professional services. The top ancestries reported are English, Australian, Irish.
Median house prices in The Junction stand at $2.2 million, having grown strongly by 8.3% over the last twelve months. Units have a median price of $799,000 (+2.7% YoY). The current median weekly rent is $735. This gives a gross rental yield of approximately 1.8%. The median monthly mortgage repayment is $2,383.
Public transport access includes 2 rail stations, 9 bus stops. The crime rate in the Newcastle LGA is moderate at 6,285 incidents per 100,000 population.
From an investment perspective, The gross rental yield works out to roughly 1.8%, which reads as low yield. Property prices are above the state median ($2.2M/$1.5M), placing it in the premium segment. The price-to-income ratio of 21.6x is considered stretched. House prices have moved +8.3% year-on-year. Population growth of +1.1% year-on-year points to stable demand fundamentals. Building approvals have changed +0% year-on-year, indicating steady development activity.