Located in South Australia within the Berri Barmera local government area, Berri is a smaller residential area (postcode 5343). With a population of 4,143, the suburb has an established family demographic with a median age of 42. Households earn a median income of $54K per year, with an average household size of 2.1 people. Recent annual estimates show population movement staying broadly stable across the broader catchment, with population growth running at -0.1% year-on-year at the LGA level. SA employment has moved +2.1% year-on-year in the official Jobs and Skills Australia NERO series, which provides the broader jobs backdrop for this suburb. SA also had 23 Commonwealth-backed major projects under construction, 2 underway, and 11 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 labourers, professionals, community & personal service. Employment in the area leans toward healthcare and manufacturing. The top ancestries reported are English, Australian, German.
Units have a median price of $265,000 (+18.3% YoY). The current median weekly rent is $365. This gives a gross rental yield of approximately 7.2%. The median monthly mortgage repayment is $1,040.
Berri is served by 4 schools, including 2 primary, 1 secondary, 1 special. The average ICSEA score is 932, which is below the national average of 1,000. Healthcare facilities include 1 public hospital. The crime rate in the Berri Barmera LGA is higher than average at 9,558 incidents per 100,000 population.
Looking at the investment signals, The gross rental yield works out to roughly 7.2%, which reads as high yield. Property prices sit below the state median ($265K/$950K), which can point to relative value. The price-to-income ratio of 4.9x is considered affordable. House prices have moved +18.3% year-on-year. Population growth of -0.1% year-on-year points to declining demand fundamentals. Building approvals have changed +0% year-on-year, indicating steady development activity.