Castle Cove
At a $3,880,000 median house price and household income in the 98.9th percentile nationally, Castle Cove stands among the wealthiest residential enclaves in Australia. The suburb scores decile 10 on all four SEIFA indexes, a clean sweep that very few suburbs achieve. With only 2,643 residents across 2.34 square kilometres, the population density is low and 90.6% of dwellings are separate houses, reinforcing the character of an exclusive, owner-dominated enclave. University qualifications reach 62.2%, which is 32.1 points above the national average, and median age of 46 is 6 years older than the national figure, consistent with an established, wealth-holding demographic.
Population
2,643
Median Age
46.0
Household IncomeiMedian weekly household income (ABS Census)
$3,439/wk
DAs (12 months)iDevelopment Applications lodged in the past year
44
Median House
$3.9M
2024-2025 (PSI derived)
The median house price of $3,880,000 places Castle Cove well above the Sydney average, and prices edged up 2.6% from $3,820,000 in 2024 to $3,919,000 in 2025. Mortgage repayments average $4,000 per month, producing a mortgage-to-income ratio of 26.9%, below the 30% stress threshold, which reflects how high household incomes are relative to even these debt levels. Separate houses dominate at 90.6% of stock, with apartments at only 3.3%, meaning buyers compete for a deep but thinly traded detached market. Four-plus bedroom homes account for 66.4% of dwellings, indicating the suburb caters primarily to established families rather than downsizers or young couples. Outright owners at 52.4% well exceed mortgage holders at 36.0%, suggesting generational wealth accumulation rather than leveraged buying.
For Buyers
The median house price of $3,880,000 places Castle Cove well above the Sydney average, and prices edged up 2.6% from $3,820,000 in 2024 to $3,919,000 in 2025. Mortgage repayments average $4,000 per month, producing a mortgage-to-income ratio of 26.9%, below the 30% stress threshold, which reflects how high household incomes are relative to even these debt levels. Separate houses dominate at 90.6% of stock, with apartments at only 3.3%, meaning buyers compete for a deep but thinly traded detached market. Four-plus bedroom homes account for 66.4% of dwellings, indicating the suburb caters primarily to established families rather than downsizers or young couples. Outright owners at 52.4% well exceed mortgage holders at 36.0%, suggesting generational wealth accumulation rather than leveraged buying.
For Investors
A renter share of 11.6% and weekly rent of $1,000 reflect a market that runs primarily on owner-occupiers, limiting the tenant pool compared to higher-density suburbs. Against the $3,880,000 median, the implied gross yield is below 1.5%, among the lowest in Sydney. The vacancy rate is 6.9%, which is higher than the national rental average, signalling that the small rental stock is not tightly absorbed. Net overseas migration brings 181 new residents annually to the broader SA2, which is the primary growth driver, but net internal migration runs at minus 122 per year, indicating residents leaving to cheaper areas partially offsets that gain. Development activity recorded 41 applications in 12 months, including dual occupancy complying development certificates, suggesting modest incremental supply growth. The investment case here rests on long-term capital preservation rather than rental yield.
Development Activity
Total DAs
227
Last 12 Months
44
YoY ChangeiYear-over-year change in DA lodgements
-2.2%
Avg DA CostiAverage estimated cost per DA in the past year
N/A
Monthly DA Lodgements
DA Categories
Schools in Castle Cove iICSEA: school advantage index. 1000 = national avg, higher = more advantaged
Castle Cove Public School
K-6 · 273 students
Demographics
The median age of 46 is 6.0 years above the national figure and the demographic trajectory is aging, with the senior share rising 5.0 points while the working-age share declined 3.8 points over the decade. Overseas-born residents reach 38.7%, which is 17.1 points above the national average, with English (770) and Chinese (616) the two largest ancestry groups. The top non-English languages are Mandarin (102 speakers) and Cantonese (100), consistent with the 38.7% overseas-born profile. University qualifications at 62.2% are 32.1 percentage points above the national figure, one of the highest rates nationally. Average household size of 2.9 is 0.4 above the national average, and couples with children make up the largest family type at 1,072 of 2,366 total families, pointing to a settled, family-oriented residential base.
Age Distribution
Bedrooms
Dwelling Structure
90.6%
Houses
6.1%
Townhouse
3.3%
Apartment
Tenure
Castle Cove is overwhelmingly a detached house suburb: 90.6% of dwellings are separate houses, compared to only 3.3% apartments and 6.1% semi-detached. This concentration is unusual even for premium Sydney suburbs. Four-plus bedroom homes at 66.4% and three-bedroom at 24.7% indicate large family homes are the norm, with small dwellings almost absent. The tenure split strongly favours ownership: 52.4% own outright, 36.0% hold a mortgage and only 11.6% rent, a balance that places Castle Cove at the wealth-preservation end of the housing market. Price history shows a rise from $3,820,000 in 2024 to $3,919,000 in 2025, a 2.6% gain over one year. The mortgage-to-income ratio of 26.9% sits below the 30% stress level, while rent-to-income at 29.1% is comfortable for tenants relative to the rental market nationally.
Median House Price Trend
Source: State Valuer-General
Mortgage / mo
$4,000
Rent / wk
$1,000
HH Size
2.9
Personal Income / wk
$1,219
Vacancy Ratei% of dwellings unoccupied on Census night (ABS 2021)
6.9%
Unoccupied
65
Rent / IncomeiMedian rent as % of household income. Over 30% = housing stress
29.1%
Mortgage / IncomeiMedian mortgage as % of household income. Over 30% = housing stress
26.9%
Community Profile
Languages Spoken at Home
Ancestry
Household Composition
20.3%
Couples, no children
2,366
Total families
Economy & Employment
The workforce is concentrated in high-income knowledge industries: Professional/Tech leads at 23.8% (226 workers), followed by Finance at 13.7% (130) and Healthcare at 12.5% (119), with Education at 7.3% and Real Estate at 5.9%. By occupation, Professionals account for 451 workers and Managers 309, together representing the majority of employed residents. This top-heavy occupation and industry mix aligns with the decile 10 IEO score and household income in the 98.9th percentile nationally. The unemployment rate is 4.2% and the full-time employment rate is 63.9%. Participation at 52.7% is low because 848 residents are not in the labour force, consistent with a wealthy suburb where early retirement and wealth management are common. Real income grew 8.6% over the decade.
Unemployment
2.8%
Labour Force
7,047
Unemployed
197
Quarterly Trend
Source: SALM Dec-25
Socio-Economic Indexes (SEIFA)iABS index ranking suburbs from 1 (most disadvantaged) to 10 (most advantaged)
Full-time
63.9%
Part-time
31.9%
Participation
52.7%
Employed
1,069
Occupations
Top Industries
University
62.2%
Postgraduate
19.8%
Born Overseas
38.7%
Dwellings
874
Transport to Work
Car dependence is high, with 84.8% of residents driving to work, compared to 4.5% using public transport and 4.5% walking or cycling, which is typical for a low-density suburb lacking direct rail access. Castle Cove scores decile 10 on IRSAD, the top advantage tier nationally, indicating minimal disadvantage. Only 3.4% of residents (86 people) need daily assistance, low given the older median age of 46. The volunteering rate is 20.0%, above the national average, reflecting community engagement among the wealth-holding resident base. No schools are recorded within the suburb boundary in this dataset, so families rely on nearby institutions in adjacent suburbs. Resident stability is strong: 83.3% of residents stayed in the same address in the prior year, compared to a turnover rate of 16.7%, indicating a settled, long-term community.
Drive
84.8%
Public Transport
4.5%
Walk / Cycle
4.5%
Work from Home
N/A
Population Forecast
+0.13%/yr
(+18 people/yr)
EstablishedCastle Cove is in slow, steady growth mode: the annual population trend is 0.13%, adding roughly 18 persons per year, and the 10-year population change is 6.0%, which is modest relative to most Sydney suburbs. The current population of approximately 2,643 sits above the COVID low, having recovered from a 2.4% dip. Medium forecasts project the broader SA2 population reaching around 13,766 by 2031, up from 13,592 in 2025. Overseas migration averaging 181 new residents annually is the primary driver of any growth, offsetting an internal outflow of 122 per year, a pattern typical of expensive suburbs where affordability discourages inward domestic movement. The gentrification score is 10 and stage is not gentrifying, as the suburb already occupies the top advantage decile nationally with no room to move higher.
Historical + Forecast
Hamilton-Perry + Holt smoothing on ERP 2001-2025
Age Cohort Forecast
Primary Driver
Overseas Migration
Net Overseas / yr
+181
Net Internal / yr
-122
Gentrification Signal
Not gentrifying
Net internal outflow -122/yr, COVID recovered (-2% dip → full recovery)
National Ranking iPercentile rank among ~15,000 AU suburbs. 90% = higher than 90% of suburbs
How Castle Cove compares to ~15,000 Australian suburbs
Frequently Asked Questions
Is Castle Cove a good suburb to live in?
Castle Cove scores decile 10 on all four SEIFA indexes, the top advantage tier nationally. Household income sits in the 98.9th percentile and university qualifications reach 62.2%, which is 32.1 points above the national average. The trade-off is a $3,880,000 median house price and limited rental stock at only 11.6% of dwellings.
What is the median house price in Castle Cove?
The median house price is $3,880,000. Prices rose 2.6% from $3,820,000 in 2024 to $3,919,000 in 2025. Monthly mortgage repayments average $4,000, producing a mortgage-to-income ratio of 26.9%, which is below the 30% stress threshold despite the high price level.
What schools are in Castle Cove?
No schools are recorded inside the Castle Cove boundary in this dataset, so families rely on institutions in neighbouring suburbs. The local population is among the most educated in Australia, with 62.2% holding university qualifications, which is 32.1 percentage points above the national figure.
Is Castle Cove safe?
Detailed crime statistics are not available for Castle Cove in this dataset. As an indirect indicator, the suburb scores decile 10 on the IRSD index of relative disadvantage, the top tier nationally, and only 3.4% of residents (86 people) need daily assistance, both consistent with a very low-disadvantage environment.
Is Castle Cove good for property investment?
The investment profile is capital preservation rather than yield. Weekly rent of $1,000 against a $3,880,000 median implies a gross yield below 1.5%, and the 6.9% vacancy rate signals the small rental stock is not fully absorbed. Overseas migration of 181 residents per year supports long-term demand, but net internal outflow of 122 per year keeps population growth at 0.13% annually.
How is Castle Cove's population changing?
Population growth runs at 0.13% annually, adding about 18 persons per year, with a 6.0% rise over the past decade. The suburb follows an aging trajectory, with the senior share rising 5.0 points and the working-age share falling 3.8 points. Overseas migration of 181 per year is the primary growth driver, partially offset by a net internal outflow of 122 per year.
What languages are spoken in Castle Cove?
About 38.7% of residents were born overseas, which is 17.1 points above the national figure. The top non-English languages are Mandarin (102 speakers) and Cantonese (100), reflecting the Chinese ancestry group of 616 residents, the second largest ancestry behind English at 770.
How much development is happening in Castle Cove?
There were 41 development applications lodged in the past 12 months. Recent examples include dual occupancy complying development certificates, suggesting the suburb is seeing incremental densification rather than large-scale new supply. Population growth of 0.13% annually confirms that development activity remains modest in this established, slow-growth area.
How to read these comparisons
Phrases like "above the national average" reference the unweighted median across Australian suburbs with more than 1,000 residents, not population-weighted national figures. Suburb-level medians are more useful for ranking suburbs against each other; ABS census headlines are population-weighted (so dominated by Sydney and Melbourne) and can read very differently.
Current baseline (refreshed 2026-05-10): median age 40, university-educated 30.1%, born overseas 21.6%, average household size 2.5 people.
Data sources: ABS 2021 Census (demographics, income, tenure), state Valuer-General (house prices), Department of Jobs SALM (unemployment), ACARA (school ICSEA), state Crime Statistics agencies (offences), council DA portals (development applications). Population forecasts use a Hamilton-Perry cohort model calibrated to ABS ERP.
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