Carrington is an inner-city suburb of Newcastle about 4kms by road) from the CBD. It’s very popular due to its proximity to the city, primary school and eclectic shops, cafes and bars. Traditionally a working class, industrial suburb it is being gentrified.
Carrington is approximately 2.1 square kilometres. It has 6 parks covering nearly 4.8% of total area. The population of Carrington in 2011 was 1,877 people. By 2016 the population was 1,953 showing a population growth of 4.0% in the area during that time. The predominant age group in Carrington is 20-29 years. Households in Carrington are primarily childless couples and are likely to be repaying $1800 – $2399 per month on mortgage repayments. In general, people in Carrington work in a professional occupation. In 2016, 50.2% of the homes in Carrington were owner-occupied.
Currently the median sales price of houses in the area is $887,500.
Houses in Carrington rent out for an average of $580 PW with an annual rental yield of 3.4% and units rent for $640 PW with a rental yield of 3.6%.
Based on five years of sales, Carrington has seen a compound growth rate of 13.5% for houses and 2.7% for units.
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