The bustling region of Mt Annan has grown by almost 10 per cent in the past five years, with the population increasing from 10,500 to 11,703, according to the latest Census figures.
The 2016 statistics indicate Mt Annan is a well-off suburb where residents are steadily achieving the dream of owning their own home, in an area that’s experiencing moderate expansion.
So let’s take a further look into the suburb of Mt Annan…
Who lives in Mt Annan?
With a median age of 33, Mt Annan residents are five years younger than the NSW or Australian figures, and feature a population that’s 48.8% female and 51.2% male. This is a slightly older than five years ago when the median age for Mt Annan residents was 31.
It also indicates a high number of children in the region, with 25% of the population aged below 15, compared to an average of 18.5% in NSW, and 18.7% nationally. Meanwhile only 6.8% of Mt Annan’s population is aged older than 65.
The age brackets featuring the highest number of residents are 40-44, and 5-8, both of which comprise 8.9% of the population each.
By far the majority of residents (89.5%) live with family, while 9.1% live alone and only 1.3% live in share accommodation.
Within these family households, 60.1% comprise couples with children, 24.5% are couples without children, and 14.8% of family households are single parent homes. There is an average of two children per household with kids, and this represents the same figure as 2011.
Of the residents aged above 15, over half (56.4%) are married, 30.9% have never been married, 10% are divorced or separated, and 2.7% are widowed.
How Mt Annan fares financially
Mt Annan fares well on the financial front with a median weekly household income of $2266. That’s almost $500 per week above the state norm, and almost $550 above the national statistics.
Over a quarter (26.4%) of the Mt Annan population has a gross weekly income of $3000 or more, compared to 18.7% of NSW residents, and 16.4% nationally. This also represents a rise on five years ago when the median household income for the suburb was $2053, and just 18.8% of households took home more than $3000 each week.
For many residents a portion of that income goes to paying a mortgage or rent. The monthly Mt Annan mortgage has a median of $2167, which is around $200 greater than the NSW median, and $400 more than the national statistics. It represents a slight decrease on 2011 however, when the median monthly mortgage was $2200.
Meanwhile rent is on the rise. In 2011, Mt Annan residents had a median weekly rental outgoing of $400 but that has now increased to $450. This makes Mt Annan’s median rent $70 more expensive than the median for NSW and $115 more expensive than Australia.
How Mt Annan residents live
This home that residents are renting or working to own is by no means small. Over 95% of the Mt Annan housing stock is separate dwellings, and the majority (72.8%) comprises four bedrooms or more. A further 23.7% are three-bedroom homes.
Only 3.9% of dwellings are semi-detached or townhouses and there are virtually no flats or apartments in the suburb. Since 2011 there have been 327 new homes built in Mt Annan.
And chances are, if you live in Mt Annan, you are paying a mortgage on your home. Exactly 60% of residents own their home with a mortgage, 20% own it outright and only 17.7% rent compared to a New South Wales average of 31.8%.
This shows progress on the outright home ownership front. In 2011 66.7% of residents were paying a mortgage, only 17.2% owned their home outright, and 15% of the population rented their home.
The final word
Mt Annan residents may be younger than the norm, but the likelihood is they’re families comprising working couples with children under 15. They’re making steady progress on their mortgage with an income above the state and national norm.
And the lifestyle they have established is attracting further residents, with over 1000 people moving to Mt Annan in the past five years.
About United Strata
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.