West Lakes is a moderately sized suburb in South Australia within the Charles Sturt local government area (postcode 5021). With a population of 6,768, the suburb has a mature demographic with a median age of 54. Households earn a median income of $80K per year, with an average household size of 2.2 people. Recent annual estimates show population movement staying broadly stable across the broader catchment, with population growth running at +1.1% 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 professionals, managers, clerical & administrative. Employment in the area leans toward healthcare and education. The top ancestries reported are English, Australian, Italian.
West Lakes has a median house price of $1.7 million, which has jumped by 23.5% year-on-year. Units have a median price of $660,000 (+4.8% YoY). The current median weekly rent is $650. This gives a gross rental yield of approximately 2.0%. The median monthly mortgage repayment is $1,788.
Public transport access includes 44 bus stops. The crime rate in the Charles Sturt LGA is higher than average at 9,752 incidents per 100,000 population.
From an investment perspective, West Lakes shows a gross rental yield of approximately 2.0%, rated as low yield. Property prices are above the state median ($1.7M/$950K), placing it in the premium segment. The price-to-income ratio of 20.7x is considered stretched. House prices have moved +23.5% year-on-year. Population growth of +1.1% year-on-year points to stable demand fundamentals. Building approvals have changed +0% year-on-year, indicating steady development activity.