Neerim North

Neerim North is a small suburb with a population of 41 residents. The demographics skew towards older age groups, with a significant number of residents aged 45 to 64 years. The suburb has a mix of occupations, with a notable presence of Technicians and Tradeworkers and Community and Personal Service Workers. The median household income is relatively high, and the commute to work is predominantly by motor vehicle. For houses in Neerim North, the market is stable with limited properties available for sale. The low stock on market rate indicates a tight inventory, potentially leading to increased demand. However, the low affordability index percentile suggests that the suburb may not be ideal for investors focusing on affordability. The high online search interest could indicate buyer curiosity about this niche market. Property developers may find opportunities in renovating existing houses given the high sale price median growth over the past 5 years. Neerim North offers a tranquil lifestyle with a small and close-knit community. The suburb may appeal to individuals seeking a peaceful retreat away from urban centres. Investors should carefully consider the market dynamics, focusing on renovation potential for houses to leverage the past growth trends in sale prices. Sources: - proptechdata.com.au - Australian Bureau of Statistics (ABS) Census 2021 - Australian Curriculum, Assessment and Reporting Authority (ACARA) School Profiles 2022