Esperance is a smaller residential area in Western Australia within the Esperance local government area (postcode 6450). With a population of 2,080, the suburb has an older-leaning population with a median age of 52. Households earn a median income of $57K per year, with an average household size of 1.9 people. Recent annual estimates show population movement staying broadly stable across the broader catchment, with population growth running at +0.3% year-on-year at the LGA level. WA employment has moved +1.1% year-on-year in the official Jobs and Skills Australia NERO series, which provides the broader jobs backdrop for this suburb. WA also had 31 Commonwealth-backed major projects under construction, 7 underway, and 16 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, managers. Employment in the area leans toward healthcare and retail trade. The top ancestries reported are English, Australian, Scottish.
Median house prices in Esperance stand at $430,000, having grown strongly by 7.5% over the last twelve months. Units have a median price of $320,000 (-14.1% YoY). The current median weekly rent is $457. This gives a gross rental yield of approximately 5.5%. The median monthly mortgage repayment is $1,500.
Esperance is served by 8 schools, including 5 primary, 2 secondary, 1 special. The average ICSEA score is 941, which is below the national average of 1,000. Public transport access includes 33 bus stops. Healthcare facilities include 1 public hospital.
Looking at the investment signals, Gross rental yield sits at around 5.5% (high yield). Property prices sit below the state median ($430K/$951K), which can point to relative value. The price-to-income ratio of 7.6x is considered moderate. House prices have moved +7.5% year-on-year. Population growth of +0.3% year-on-year points to stable demand fundamentals. Building approvals have changed +0% year-on-year, indicating steady development activity.