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Rankin Park suburb profile

Rankin Park is a peaceful suburb located in the western part of Newcastle, New South Wales, known for its leafy environment and family-friendly atmosphere. Situated approximately 11km from Newcastle's city centre, it offers a tranquil residential setting with easy access to urban amenities. The suburb is characterized by its spacious homes, lush greenery, and proximity to the John Hunter Hospital, making it a popular choice for healthcare professionals and families. With several parks, schools, and local shops nearby, Rankin Park provides a comfortable and convenient lifestyle for its residents, blending suburban serenity with city accessibility.

Rankin Park property market performance

Rankin Park’s property market has shown robust growth, with house values increasing by 16.8% over the past 12 months, reaching a median price of $1,077,500. No unit sales or price movement occurred during this period, highlighting a focus on houses in the area.

In the past three months, 16 houses have been sold, with properties spending a median of just 15 days on the market, indicating strong demand and quick sales. The absence of unit sales further underscores the suburb's current focus on detached housing.

The rental market in Rankin Park for houses has seen modest growth, with rents rising by 2% to an average of $750 per week. The unit rental market remains inactive, reflecting the overall housing trends in the suburb.

HousesUnits
Median price
Past 3 months
$1.04MN/A
Change in value
Past 12 months
16.8%N/A
Sold
Past 3 months
14N/A
Median days on market
Past 12 months
15N/A
Average rent
Past 12 months
$750N/A
Change in rent
Past 12 months
2.7%N/A

5 year median price trend for houses and units

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Rankin Park demographics

Rankin Park, nestled in the Hunter Region of New South Wales, offers a serene suburban lifestyle with a strong sense of community. With a population of 2,547, this suburb is characterized by its family-friendly environment and proximity to natural reserves, making it an ideal location for those seeking a peaceful yet connected lifestyle. The median age of 40 suggests a mature community, with many residents likely enjoying the balance of work and family life.

The suburb's housing landscape is predominantly owner-occupied, with 42.8% of properties owned outright and 45.3% owned with a mortgage. This high level of home ownership reflects the stability and long-term commitment of its residents. Only 12% of properties are rented, indicating a preference for permanent settlement among the community. Families are a significant part of Rankin Park's demographic, with 43.2% of households being couple families with children and 40.1% being couple families without children. This highlights the suburb's appeal to both growing families and those whose children have moved out.

Rankin Park's median total household income of $2,214 per week suggests a comfortable standard of living, supported by the suburb's proximity to employment hubs in Newcastle. The presence of one-parent families, making up 14.9% of the community, adds to the suburb's diversity and underscores its inclusive nature. With its blend of natural beauty, community spirit, and convenient access to urban amenities, Rankin Park is a desirable location for those looking to settle in a tranquil yet well-connected environment.

Suburbs near Rankin Park

Some popular suburbs near Rankin Park include:

How does Rankin Park compare to nearby suburbs?

  • Median house prices: Rankin Park’s median house price is 22.6% higher than Elermore Vale’s.
  • House price growth: Over the past 12 months, house prices in Rankin Park have grown 13.3% higher than in Elermore Vale.
  • Selling speed for houses: Properties in Rankin Park are selling 37.5% faster than in Cardiff Heights.

Choose the right real estate agents in Rankin Park

There are 37 real estate agents in Rankin Park, but they don’t all deliver the same results.

Some agents have a much stronger presence in the suburb, with just 5 agents handling around 30.6% of all sales in the past year.

Commission rates in Rankin Park typically range from 1.87% to 3.25%. Comparing agents—including what they charge, what’s included, and how they structure their fees—is not only important when choosing an agent, the right structure can help ensure your chosen agent is motivated to achieve the best possible result.

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