Walgett (postcode 2832) is a close-knit residential community in New South Wales within the Walgett local government area. With a population of 1,824, the suburb has a mix of young professionals and families with a median age of 35. Households earn a median income of $81K per year, with an average household size of 2.5 people. Recent annual estimates show population movement softening across the broader catchment, with population growth running at -1.5% 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 managers, community & personal service, professionals. Employment in the area leans toward agriculture and public admin & safety. The top ancestries reported are Australian, Aboriginal Australian, English.
Walgett has a median house price of $350,000, which has jumped by 75% year-on-year. The current median weekly rent is $250. This gives a gross rental yield of approximately 3.7%. The median monthly mortgage repayment is $970.
Walgett is served by 3 schools, including 2 primary, 1 secondary. The average ICSEA score is 743, which is well below the national average of 1,000. Public transport access includes 64 bus stops. Healthcare facilities include 1 public hospital. The crime rate in the Walgett LGA is higher than average at 12,448 incidents per 100,000 population.
On the investment side, The gross rental yield works out to roughly 3.7%, which reads as moderate yield. Property prices sit below the state median ($350K/$1.5M), which can point to relative value. The price-to-income ratio of 4.3x is considered affordable. House prices have moved +75.0% year-on-year. Population growth of -1.5% year-on-year points to declining demand fundamentals. Building approvals have changed +0% year-on-year, indicating steady development activity.