Located in New South Wales within the Sydney local government area, Ultimo is a moderately sized suburb (postcode 2007). It is home to about 7,410 residents, with a predominantly early-career demographic and a median age of 30. Households earn a median income of $94K per year, with an average household size of 2.1 people. Recent annual estimates show population movement into the broader catchment, with population growth running at +1.8% year-on-year at the LGA level. NSW employment has moved +1.2% year-on-year in the official ABS Labour Force trend series, which provides the broader jobs backdrop for this suburb. NSW also had 35 Commonwealth-backed major projects under construction, 17 underway, and 67 in planning as at 2025-09-01, 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 professional services and accommodation & food. The top ancestries reported are Chinese, English, Australian.
Median house prices in Ultimo stand at $1.9 million, having moved higher by 3.3% over the last twelve months. Units have a median price of $750,000 (+1.3% YoY). The current median weekly rent is $715. This gives a gross rental yield of approximately 2.0%. The median monthly mortgage repayment is $2,500.
Ultimo is served by 4 schools, including 1 primary, 1 secondary, 1 combined, 1 special. The average ICSEA score is 1110, which is well above the national average of 1,000. Public transport access includes 10 bus stops. The crime rate in the Sydney LGA is moderate at 7,521 incidents per 100,000 population.
On the investment side, Ultimo shows a gross rental yield of approximately 2.0%, rated as low yield. Property prices are near the state median ($1.9M/$1.5M). The price-to-income ratio of 20.2x is considered stretched. House prices have moved +3.3% year-on-year. Population growth of +1.8% year-on-year points to stable demand fundamentals. Building approvals have changed +0% year-on-year, indicating steady development activity.