Get a property report and suburb profile for any property in Belmont

Belmont, in the City of Lake Macquarie on the Hunter coast, is a waterside town where the lake meets the ocean. It has the feel of a small lakeside village, with a compact town centre of shops and cafes close to the water, and it attracts families, downsizers and weekend sailors who value an outdoor lifestyle over urban bustle. Housing mixes older weatherboard and mid-century homes with waterfront residences and pockets of newer infill, and the area is known for fishing, boating, beach walks and easy access to the wider Newcastle region.

About 7,289 people live in Belmont; the median age is 48 and a typical household income is $1,280 a week. The community is weighted towards couple families and most homes are owner-occupied, with owner-occupied dwellings outnumbering rentals by roughly two to one. Recent and planned local works include a new 71-metre public wharf with a marine waste pump-out, water infrastructure for an approved desalination plant, and council projects such as a lake-foreshore recreation trail, shared-path upgrades, a library remodel and sports-field improvements. Whether Belmont suits you will depend on whether that lakeside, outdoors-oriented lifestyle is what you’re after.

Housing costs in Belmont 2280 sit noticeably above local incomes as recorded at the last Census. A house rent of $700 a week would take about 54.7% of a typical local household's weekly income at the last Census, while a unit rent of $480 a week would take about 37.5% of that income — on these figures house rent takes a large share of income and unit rent a sizeable share.

Buying is further out of step with local earnings: the $981,000 median house price is about 14.7 times a typical local annual household income at the last Census. Which of these measures matters most depends on whether you plan to rent or buy.

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

Over the past 12 months Belmont saw gains across both prices and rents. Median house values rose 9.0% and unit values rose 8.8%, both solid increases, while house rents climbed 7.7% and unit rents rose 6.7%.

Values increased a little faster than rents on both sides of the market, and houses showed slightly stronger increases than units in both value and rent. For someone focused on capital growth, the value figures are the most relevant; if rental income is your priority, look to the rent movements. Whether that pattern suits your plans 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.