The Macarthur suburb of Cobbitty is one of the fastest growing in Australia, doubling its population in the past five years.
Once a rural hamlet, this haven is now home to major developments, with a new rail station, and infrastructure to service the region in the coming years.
But for now let’s look at the recent Census data to see how Cobbitty has already changed in the past five years.
Who lives in Cobbitty
Over 2000 people now call Cobbitty home with the population increasing from 1060 in 2011 to 2063 people in 2016. The median age of 39 closely reflects the state and national norms, and has remained this age since 2011.
A slight majority of the population (52.3%) are women, while 47.7% are male, and over fifth (21.1%) are children aged up to 14, while a further 17.4% of residents are aged over 65. This shows little change on five years ago when children made up 20.8% of the population, and people over 65 comprised 14.8% of residents.
Of those 15 and above, 62.6% are married, a quarter have never been married, 5.5% are widowed, 5.2% are divorced, and 1.7% are separated.
Most residents (85.5%) live in a family household, while 12.5% live alone, and only 2% live in share accommodation. Within family households, over half (50.7%) are couples with children who have on average two children. A further 40.2% are couples without children, and 8.6% are single parent homes.
How Cobbitty fares financially
Cobbitty residents earn on average more than their state and national peers. The median household income for the suburb is $2100 each week. That’s $614 more than the NSW median, and $662 more than the national figure.
It’s also greater than five years ago when the median weekly household income for Cobbitty was just $1472.
An astounding 28.4% of households have a gross weekly income of more than $3000, again reflecting a favourable change in their circumstances from 2011 when only 18.9% earned a gross weekly income above $3000.
When it comes to expenses, Cobbitty residents pay a monthly mortgage that’s well above the norm. Each month a median figure of $2641 goes to a mortgage. That’s $655 above the state median and $886 above the national statistic. It’s also $141 each month more than five years ago.
Meanwhile, weekly rent has also experienced a steep rise. In 2011 the median rental figure was $225, but has more than doubled to $500 in 2016. This is $120 above the current NSW median rental price and $165 above the national norm.
How Cobbitty residents live
Chances are if you live in Cobbitty you own a free-standing, four-bedroom home. Over 99% of the housing stock is separate houses. Almost two thirds (63.4%) are four-bedroom homes, 26.9% have three bedrooms, and just 7.3% are two-bedroom properties.
And the majority of these are owner occupied; 43.4% of households own their home with a mortgage, 37.6% own their home outright, and 12% of properties are rented.
That’s a change in circumstances since five years ago when the majority of residents (40.3%) owned their home outright, 37.1% were paying a mortgage and 19.1% of properties were rented.
With a country lifestyle and city convenience, Cobbitty is another of the Macarthur region’s suburbs experiencing a rapid rise. Its economic status already shows signs of changing as incomes rise, mortgages increase slightly and the rental price skyrockets.
These changes will continue over the coming years as Cobbitty continues to attract families seeking out comfort and convenience within commutable distance to Sydney.
About United Strata
Centrally located in Mt Annan, United Strata specialises in real estate within the Macarthur region. We boast a wealth of insight into the current and future position of property in the region.