Located in Western Australia within the Cockburn local government area, Spearwood is an established suburb (postcode 6163). With a population of 10,944, the suburb has an established demographic with a median age of 41. Households earn a median income of $75K per year, with an average household size of 2.3 people. Recent annual estimates show population movement into the broader catchment, with population growth running at +2.8% 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 technicians & trades, professionals, clerical & administrative. Employment in the area leans toward healthcare and construction. The top ancestries reported are English, Australian, Italian.
Spearwood has a median house price of $700,000, which has jumped by 19.7% year-on-year. Units have a median price of $395,000 (+0.4% YoY). The current median weekly rent is $700. This gives a gross rental yield of approximately 5.2%. The median monthly mortgage repayment is $1,733.
Spearwood is served by 3 schools, including 3 primary. The average ICSEA score is 1017, which is around the national average of 1,000. Public transport access includes 60 bus stops. Healthcare facilities include 1 private hospital.
On the investment side, The gross rental yield works out to roughly 5.2%, which reads as high yield. Property prices are near the state median ($700K/$951K). The price-to-income ratio of 9.3x is considered moderate. House prices have moved +19.7% year-on-year. Population growth of +2.8% year-on-year points to strong growth demand fundamentals. Building approvals have changed +0% year-on-year, indicating steady development activity.