Wollombi (postcode 2325) is a small, quiet locality in New South Wales within the Cessnock local government area. The area has roughly 301 residents and an older demographic, with a median age of 55. Households earn a median income of $87K per year, with an average household size of 2.2 people. Recent annual estimates show population movement into the broader catchment, with population growth running at +2.9% 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 professionals, managers, community & personal service. Employment in the area leans toward professional services and accommodation & food. The top ancestries reported are English, Australian, Irish.
The median house price in Wollombi is $948,000, having surged by 27.6% over the past year. The current median weekly rent is $580. This gives a gross rental yield of approximately 3.2%. The median monthly mortgage repayment is $1,733.
Public transport access includes 7 bus stops. The crime rate in the Cessnock LGA is moderate at 4,890 incidents per 100,000 population.
On the investment side, The gross rental yield works out to roughly 3.2%, which reads as moderate yield. Property prices sit below the state median ($948K/$1.5M), which can point to relative value. The price-to-income ratio of 10.9x is considered stretched. House prices have moved +27.6% year-on-year. Population growth of +2.9% year-on-year points to strong growth demand fundamentals. Building approvals have changed +0% year-on-year, indicating steady development activity.