Located in South Australia within the Norwood Payneham and St Peters local government area, Norwood is a mid-sized suburb (postcode 5067). With a population of 6,354, the suburb has an established demographic with a median age of 40. Households earn a median income of $91K per year, with an average household size of 2 people. Recent annual estimates show population movement into the broader catchment, with population growth running at +1.6% 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 professionals, managers, clerical & administrative. Employment in the area leans toward healthcare and professional services. The top ancestries reported are English, Australian, Irish.
Norwood has a median house price of $1.7 million, which has eased back by 1.4% year-on-year. Units have a median price of $795,000 (+16.7% YoY). The current median weekly rent is $665. This gives a gross rental yield of approximately 2.0%. The median monthly mortgage repayment is $2,000.
Norwood is served by 2 schools, including 2 primary. The average ICSEA score is 1128, which is well above the national average of 1,000. Public transport access includes 29 bus stops. The crime rate in the Norwood Payneham and St Peters LGA is higher than average at 8,609 incidents per 100,000 population.
Looking at the investment signals, Gross rental yield sits at around 2.0% (low yield). Property prices are above the state median ($1.7M/$950K), placing it in the premium segment. The price-to-income ratio of 18.7x is considered stretched. House prices have moved -1.4% year-on-year. Population growth of +1.6% year-on-year points to stable demand fundamentals. Building approvals have changed +0% year-on-year, indicating steady development activity.