Merrimac is a mid-sized suburb in Queensland within the Gold Coast local government area (postcode 4226). With a population of 7,212, the suburb has an established demographic with a median age of 38. Households earn a median income of $88K per year, with an average household size of 2.6 people. The most common occupations are professionals, community & personal service, technicians & trades. The top ancestries reported are English, Australian, Scottish.
The median house price in Merrimac is $951,000, having surged 15.9% over the past year. Units have a median price of $700,000 (+12.9% YoY). The current median weekly rent is $825. This gives a gross rental yield of approximately 4.5%. The median monthly mortgage repayment is $1,733.
Merrimac is served by 4 schools, including 2 primary, 1 secondary, 1 combined. The average ICSEA score is 1062, which is above the national average of 1,000. Public transport access includes 21 bus stops. The crime rate in the Gold Coast LGA is moderate at 5,745 incidents per 100,000 population.
From an investment perspective, Merrimac offers a gross rental yield of 4.5%, rated as moderate yield. Property prices are near the state median ($951K/$1.1M). The price-to-income ratio of 10.8x is considered stretched. House prices have moved +15.9% year-on-year.
Merrimac is a mid-sized suburb in Queensland within the Gold Coast local government area (postcode 4226). With a population of 7,212, the suburb has an established demographic with a median age of 38. Households earn a median income of $88K per year, with an average household size of 2.6 people. The most common occupations are professionals, community & personal service, technicians & trades. The top ancestries reported are English, Australian, Scottish.
The median house price in Merrimac is $951,000, having surged 15.9% over the past year. Units have a median price of $700,000 (+12.9% YoY). The current median weekly rent is $825. This gives a gross rental yield of approximately 4.5%. The median monthly mortgage repayment is $1,733.
Merrimac is served by 4 schools, including 2 primary, 1 secondary, 1 combined. The average ICSEA score is 1062, which is above the national average of 1,000. Public transport access includes 21 bus stops. The crime rate in the Gold Coast LGA is moderate at 5,745 incidents per 100,000 population.
From an investment perspective, Merrimac offers a gross rental yield of 4.5%, rated as moderate yield. Property prices are near the state median ($951K/$1.1M). The price-to-income ratio of 10.8x is considered stretched. House prices have moved +15.9% year-on-year.