Narromine is a residential suburb in New South Wales, sitting within the 2821 postcode. As a regional suburb, the suburb is serviced by 4 schools and benefits from solid transport and amenity access.
Narromine has a population of approximately 4,608, a median age of 41, a median weekly household income of $1,456. With 72% owner-occupier rate, this is predominantly a homeowner market, which supports long-term price stability. Across the broader LGA, 19.9% of residents hold a university qualification.
Key employment industries in the broader local government area include Agriculture, Forestry and Fishing (24.5%), Health Care and Social Assistance (13.3%), Education and Training (10.4%).
The current median house price in Narromine is $422,500. The suburb has delivered strong average annual growth of 9.8% over the past five years, outperforming many comparable markets. In the past 12 months, prices have increased 9.24%.
Properties in Narromine spend an average of 41 days on market. Online buyer demand is currently rated as average online demand. Stock on market sits at 1.23%. Inventory levels are at 2.42 months, indicating a balanced market. The average vendor discount is -6%, meaning sellers are typically negotiating below asking price.
The median weekly rent for houses in Narromine is $460. Gross rental yield sits at 5.66%, which is above average and attractive for cashflow-oriented investors. Vacancy rate is 1.03%, reflecting healthy rental demand. Rental growth is 2.22% year-on-year.
The broader local government area is forecast to grow from 6,600 to 6,400 residents by 2031 (-3.0% growth).
Explore other suburb profiles in the area: Wellington, NSW, Dubbo, NSW, Grenfell, NSW, Cobar, NSW.
Handle Properties is a Sydney-based buyer's agency helping investors build portfolios of high-growth investment properties across Australia. If you are considering Narromine or need help identifying the right suburb for your strategy, get in touch with our team.
The quantitative data below has been compiled on 30th May 2023 from a range of third party sources using a variety of manual methods. Handle does not guarantee the accuracy of this data shown below.