Located in Victoria within the East Gippsland local government area, Wy Yung is a small community (postcode 3875). It is home to about 1,940 residents, with a mature demographic and a median age of 46. Households earn a median income of $78K per year, with an average household size of 2.5 people. Recent annual estimates show population movement staying broadly stable across the broader catchment, with population growth running at +1.0% 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 professionals, technicians & trades, clerical & administrative. Employment in the area leans toward healthcare and construction. The top ancestries reported are English, Australian, Scottish.
Median house prices in Wy Yung stand at $503,000, having dropped significantly by 8.1% over the last twelve months. The current median weekly rent is $460. This gives a gross rental yield of approximately 4.8%. The median monthly mortgage repayment is $1,517.
Public transport access includes 5 bus stops. The crime rate in the East Gippsland LGA is higher than average at 13,055 incidents per 100,000 population.
Looking at the investment signals, The gross rental yield works out to roughly 4.8%, which reads as moderate yield. Property prices sit below the state median ($503K/$875K), which can point to relative value. The price-to-income ratio of 6.4x is considered moderate. House prices have moved -8.1% year-on-year. Population growth of +1.0% year-on-year points to stable demand fundamentals. Building approvals have changed +0% year-on-year, indicating steady development activity.