Gray (postcode 0830) is a smaller residential area in Northern Territory within the Palmerston local government area. With a population of 3,142, the suburb has a mix of young professionals and families with a median age of 34. Households earn a median income of $77K per year, with an average household size of 2.4 people. Recent annual estimates show population movement staying broadly stable across the broader catchment, with population growth running at +1.4% year-on-year at the LGA level. NT employment has moved +0.9% year-on-year in the official Jobs and Skills Australia NERO series, which provides the broader jobs backdrop for this suburb. NT also had 4 Commonwealth-backed major projects under construction, 3 underway, and 5 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 technicians & trades, clerical & administrative, community & personal service. Employment in the area leans toward public admin & safety and healthcare. The top ancestries reported are Australian, English, Aboriginal Australian.
The median house price in Gray is $390,000, having softened modestly by 2.5% over the past year. Units have a median price of $250,000 (+6.4% YoY). The median weekly rent is $300 (Census 2021). This gives a gross rental yield of approximately 4.0%. The median monthly mortgage repayment is $1,725.
Gray is served by 1 school, including 1 primary. The average ICSEA score is 808, which is well below the national average of 1,000. Public transport access includes 14 bus stops.
Looking at the investment signals, The gross rental yield works out to roughly 4.0%, which reads as moderate yield. Property prices sit below the state median ($390K/$711K), which can point to relative value. The price-to-income ratio of 5.1x is considered affordable. House prices have moved -2.5% year-on-year. Population growth of +1.4% year-on-year points to stable demand fundamentals. Building approvals have changed +0% year-on-year, indicating steady development activity.