Maffra is a moderately sized suburb in Victoria within the Wellington local government area (postcode 3860). It is home to about 5,384 residents, with a settled mid-life population and a median age of 42. Households earn a median income of $67K per year, with an average household size of 2.3 people. Recent annual estimates show population movement staying broadly stable across the broader catchment, with population growth running at +0.6% year-on-year at the LGA level. VIC 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. VIC also had 45 Commonwealth-backed major projects under construction, 17 underway, and 27 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, professionals, community & personal service. Employment in the area leans toward healthcare and construction. The top ancestries reported are Australian, English, Irish.
Maffra has a median house price of $479,000, which has surged by 10.1% year-on-year. The current median weekly rent is $450. This gives a gross rental yield of approximately 4.9%. The median monthly mortgage repayment is $1,300.
Maffra is served by 3 schools, including 2 primary, 1 secondary. The average ICSEA score is 982, which is around the national average of 1,000. Public transport access includes 16 bus stops. Healthcare facilities include 1 public hospital. The crime rate in the Wellington LGA is higher than average at 12,111 incidents per 100,000 population.
Looking at the investment signals, The gross rental yield works out to roughly 4.9%, which reads as moderate yield. Property prices sit below the state median ($479K/$875K), which can point to relative value. The price-to-income ratio of 7.2x is considered moderate. House prices have moved +10.1% year-on-year. Population growth of +0.6% year-on-year points to stable demand fundamentals. Building approvals have changed +0% year-on-year, indicating steady development activity.