Question 1

Is Cannon Valley a nice place to live?

Accepted Answer

Cannon Valley is a rural locality dominated by sugarcane and grazing paddocks, with small farms, acreage properties and pockets of remnant native timber.

Incomes are above the Queensland median and many households are buying their homes, with couple families with children making up 51.0% of families. Everyday life centres on outdoor pursuits such as riding, gardening and bushwalking, and services and shopping are within driving distance of nearby towns and Mackay's urban area; the Whitsunday Regional Council has lodged a material change of use application for the Whitsunday Regional Sports Precinct, with stage one proposed to deliver five lit rectangular playing fields.

Question 2

Is it expensive to live in Cannon Valley?

Accepted Answer

A typical local household earned about $2,440 a week at the last Census, and with houses renting around $950 a week, rent would take about 39% of that income, a sizeable share for a typical household.

For Cannon Valley, that means renting a house would use a sizeable slice of local household income, so whether that feels expensive depends on your own income and circumstances.

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

Question 3

Is Cannon Valley a good place to invest?

Accepted Answer

A clear gap opened up between rents and values for houses in Cannon Valley over the past 12 months: house rents rose 11.8%, while house values increased a modest 3.8% in the same period.

In other words, rental income for houses grew more strongly than capital value over the year, so the movement was larger on the income side than on the value side for houses.

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.

	Houses	Units
Median price Past 3 months	N/A	N/A
Change in value Past 12 months	3.8%	N/A
Sold Past 3 months	8	N/A
Median days on market Past 12 months	29	N/A
Average rent Past 12 months	$950	N/A
Change in rent Past 12 months	11.8%	N/A

	Suburb	QLD
Median age years	39	38
Median household income weekly	$2,440	$1,675
Couples with children share of families	51.0%	41.2%
Couples without children share of families	39.3%	40.3%
One-parent families share of families	8.3%	16.8%
Homes owned outright share of homes	32.8%	30.1%
Homes with a mortgage share of homes	55.1%	35.6%
Homes rented share of homes	12.2%	34.3%

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