Question 1

Is Cannonvale a nice place to live?

Accepted Answer

Cannonvale sits beside Airlie Beach as a seaside gateway to the Whitsunday Islands and the Coral Sea, with marinas, coastal walking paths and a compact commercial strip.

The community includes many renters, with 46.0% of homes rented, alongside a strong owner-occupied presence, and couples without children make up the largest family group. Everyday life centres on parks, shoreline paths, boat facilities and a small commercial centre of local shops and services; construction has begun on the Cannonvale Community Hub at Galbraith Park, which will house a modern library, a council customer service centre, meeting rooms and flexible community spaces.

Question 2

Is it expensive to live in Cannonvale?

Accepted Answer

In Cannonvale, a typical local household earned about $1,639 a week at the most recent Census. With house rent around $750 a week, that would take about 46% of that weekly income and unit rent at $600 a week would take about 37%. On these figures, renting a house would use a large share of a typical local household's weekly income, while renting a unit would take a sizeable share.

Looking at buying, a median house price of $892,000 works out to about 10.5 times a typical local annual household income and the median unit price of $535,000 is about 6.3 times. That places purchasing well above local incomes, particularly for houses, so whether it feels affordable depends on your own 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 Cannonvale a good place to invest?

Accepted Answer

In Cannonvale over the past 12 months, unit values climbed a strong 20.7% while unit rents rose a solid 9.1%. House values rose a solid 9.9% and house rents increased a modest 3.0%. Across both property types, capital growth outpaced rental growth in that period, most markedly for units where value gains were substantially larger than rent gains.

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	$892K	$535K
Change in value Past 12 months	9.9%	20.7%
Sold Past 3 months	23	29
Median days on market Past 12 months	23	28
Average rent Past 12 months	$750	$600
Change in rent Past 12 months	3.0%	9.1%

	Suburb	QLD
Median age years	37	38
Median household income weekly	$1,639	$1,675
Couples with children share of families	36.8%	41.2%
Couples without children share of families	43.8%	40.3%
One-parent families share of families	18.5%	16.8%
Homes owned outright share of homes	21.3%	30.1%
Homes with a mortgage share of homes	32.6%	35.6%
Homes rented share of homes	46.0%	34.3%

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