Waratah is a smaller suburb in New South Wales within the Newcastle local government area (postcode 2298). With a population of 4,927, the suburb has an established demographic with a median age of 41. Households earn a median income of $79K per year, with an average household size of 2.2 people. The most common occupations are professionals, community & personal service, clerical & administrative. The top ancestries reported are English, Australian, Irish.
The median house price in Waratah is $1.0 million, having grown strongly 5.9% over the past year. Units have a median price of $521,000 (-28.7% YoY). The current median weekly rent is $575. This gives a gross rental yield of approximately 3.0%. The median monthly mortgage repayment is $1,827.
Waratah is served by 8 schools, including 2 primary, 1 secondary, 1 combined, 4 special. The average ICSEA score is 990, which is around the national average of 1,000. Public transport access includes 4 rail stations, 45 bus stops. Healthcare facilities include 2 public hospitals. The crime rate in the Newcastle LGA is moderate at 6,194 incidents per 100,000 population.
From an investment perspective, Waratah offers a gross rental yield of 3.0%, rated as low yield. Property prices sit below the state median ($1.0M/$1.5M), suggesting a potential value opportunity. The price-to-income ratio of 12.7x is considered stretched. House prices have moved +5.9% year-on-year.
Waratah is a smaller suburb in New South Wales within the Newcastle local government area (postcode 2298). With a population of 4,927, the suburb has an established demographic with a median age of 41. Households earn a median income of $79K per year, with an average household size of 2.2 people. The most common occupations are professionals, community & personal service, clerical & administrative. The top ancestries reported are English, Australian, Irish.
The median house price in Waratah is $1.0 million, having grown strongly 5.9% over the past year. Units have a median price of $521,000 (-28.7% YoY). The current median weekly rent is $575. This gives a gross rental yield of approximately 3.0%. The median monthly mortgage repayment is $1,827.
Waratah is served by 8 schools, including 2 primary, 1 secondary, 1 combined, 4 special. The average ICSEA score is 990, which is around the national average of 1,000. Public transport access includes 4 rail stations, 45 bus stops. Healthcare facilities include 2 public hospitals. The crime rate in the Newcastle LGA is moderate at 6,194 incidents per 100,000 population.
From an investment perspective, Waratah offers a gross rental yield of 3.0%, rated as low yield. Property prices sit below the state median ($1.0M/$1.5M), suggesting a potential value opportunity. The price-to-income ratio of 12.7x is considered stretched. House prices have moved +5.9% year-on-year.