Verges Creek is a quiet locality in New South Wales within the Kempsey local government area (postcode 2440). It is home to about 298 residents, with an older-leaning population and a median age of 46. Households earn a median income of $79K per year, with an average household size of 2.9 people. Recent annual estimates show population movement staying broadly stable across the broader catchment, with population growth running at +0.4% 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 sales, managers, professionals. Employment in the area leans toward retail trade and healthcare. The top ancestries reported are Australian, English, Irish.
Median house prices in Verges Creek stand at $890,000, having surged by 37.8% over the last twelve months. The current median weekly rent is $460. This gives a gross rental yield of approximately 2.7%. The median monthly mortgage repayment is $1,600.
Public transport access includes 5 rail stations. The crime rate in the Kempsey LGA is moderate at 7,255 incidents per 100,000 population.
On the investment side, The gross rental yield works out to roughly 2.7%, which reads as low yield. Property prices sit below the state median ($890K/$1.5M), which can point to relative value. The price-to-income ratio of 11.2x is considered stretched. House prices have moved +37.8% year-on-year. Population growth of +0.4% year-on-year points to stable demand fundamentals. Building approvals have changed +0% year-on-year, indicating steady development activity.