Waratah West is a smaller suburb in New South Wales within the Newcastle local government area (postcode 2298). With a population of 3,142, the suburb has a young professional demographic with a median age of 31. Households earn a median income of $79K per year, with an average household size of 2.4 people. The most common occupations are professionals, community & personal service, technicians & trades. The top ancestries reported are English, Australian, Irish.
The median house price in Waratah West is $1.0 million, having grown strongly 8.1% over the past year. Units have a median price of $711,000 (-2.3% YoY). The current median weekly rent is $575. This gives a gross rental yield of approximately 3.0%. The median monthly mortgage repayment is $1,853.
Waratah West is served by 1 school, including 1 primary. The average ICSEA score is 963, which is around the national average of 1,000. Public transport access includes 24 bus stops. The crime rate in the Newcastle LGA is moderate at 6,194 incidents per 100,000 population.
From an investment perspective, Waratah West 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 +8.1% year-on-year.
Waratah West is a smaller suburb in New South Wales within the Newcastle local government area (postcode 2298). With a population of 3,142, the suburb has a young professional demographic with a median age of 31. Households earn a median income of $79K per year, with an average household size of 2.4 people. The most common occupations are professionals, community & personal service, technicians & trades. The top ancestries reported are English, Australian, Irish.
The median house price in Waratah West is $1.0 million, having grown strongly 8.1% over the past year. Units have a median price of $711,000 (-2.3% YoY). The current median weekly rent is $575. This gives a gross rental yield of approximately 3.0%. The median monthly mortgage repayment is $1,853.
Waratah West is served by 1 school, including 1 primary. The average ICSEA score is 963, which is around the national average of 1,000. Public transport access includes 24 bus stops. The crime rate in the Newcastle LGA is moderate at 6,194 incidents per 100,000 population.
From an investment perspective, Waratah West 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 +8.1% year-on-year.