Question 1

Is Rankin Park a nice place to live?

Accepted Answer

Rankin Park is a quiet residential pocket on Newcastle’s western side with a settled, family-oriented feel. Tree-lined streets mostly feature single-storey brick and weatherboard homes on established gardens, with some newer infill townhouses, so the housing mix leans traditional with pockets of denser development. Local reserves and playgrounds create a low-traffic suburban atmosphere, while a handful of neighbourhood shops and easy links to major roads and public transport make errands straightforward. It suits families and long-term residents who want a calm address with ready access to larger centres for shopping, healthcare and schools.

About 2,547 people live in Rankin Park, the median age is 40 and median total household income is $2,214 a week, roughly $115,100 a year. Families are dominated by couples, with more than four in five family households being couple families, and around seven in eight homes are owner-occupied while 12.0% are rented. The suburb is also home to the John Hunter Health and Innovation Precinct redevelopment, with a new acute services building moving into internal fit-out, and the Rankin Park to Jesmond section of the Newcastle Inner City Bypass is progressing with works under way and an interchange planned to improve access to the hospital precinct.

Question 2

Is it expensive to live in Rankin Park?

Accepted Answer

On the figures for Rankin Park, buying and renting look different against local incomes as recorded at the most recent Census. A median house price of $986,000 is about 8.6 times a typical local household's annual income at the last Census (weekly household income $2,214 ? annual $115,128), which places buying well above what households there earned at the time. Renting a house at about $750 a week would take roughly a third of a typical local household's weekly income at the last Census (about 33.9%), a sizeable share of income. Whether that feels expensive will depend on your own income and circumstances.

Everyone's financial situation is different, so it's important to consider your own circumstances when deciding which suburb is right for you.

Question 3

Is Rankin Park a good place to invest?

Accepted Answer

House values in Rankin Park climbed 15.6% over the past 12 months, a strong rise in what a house is worth. House rents rose 2.7% over the same period, a modest increase, so capital growth outpaced rental income on the house side this year.

Whether that pattern makes Rankin Park the right investment for you depends on your goals and circumstances.

This information has been prepared without taking your objectives, needs and overall financial situation into account. It is not meant to be a substitute for professional financial advice. For this reason, you should consider the appropriateness of the information and, if necessary, seek appropriate professional advice.

	Houses	Units
Median price Past 3 months	$986K	N/A
Change in value Past 12 months	15.6%	N/A
Sold Past 3 months	11	N/A
Median days on market Past 12 months	15	N/A
Average rent Past 12 months	$750	N/A
Change in rent Past 12 months	2.7%	N/A

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