Question 1

Is Cannonvale a nice place to live?

Accepted Answer

Cannonvale is a coastal Whitsunday suburb built around a long sandy foreshore and parkland, with the esplanade and beach as focal points of daily life. The housing mix leans to low-set beach houses, holiday apartments and some newer low-rise developments, and recreational boating, swimming and waterfront strolls shape life year round. Everyday shops and services are concentrated along the main road and Shute Harbour Road links the suburb with Airlie Beach and the island departure points.

About 6,596 people live in Cannonvale and the median age is 37, with a typical household weekly income of $1,639 (roughly $85,200 a year). The community is dominated by couple families, both with and without children, and homes are more often owner-occupied than rented. Local investment is under way: a major community hub is being built at Galbraith Park, the park is being guided by a master plan, transport upgrades are in planning, and the state school and foreshore parkland have seen recent improvements.

Question 2

Is it expensive to live in Cannonvale?

Accepted Answer

Buying looks stretched against what local households earned at the last Census. In Cannonvale, a median house at $850,000 is about 10.0 times a typical local annual household income at the last Census (weekly income $1,639 × 52 = $85,228), while the median unit price of $530,000 is about 6.2 times that annual income. Both sit well above the local incomes recorded at the last Census, with houses especially high.

For renters, a house rent of $750 a week would take about 45.8% of a typical local household's weekly income at the last Census, which is a large share, and unit rent of $600 a week would take about 36.6%, a sizeable share. On these figures, renting already uses a substantial portion of a typical local household's income, and buying sits even further above those incomes; which feels affordable will depend 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

The standout over the past year is the unit market in Cannonvale: unit values jumped 19.0%, a strong rise, while unit rents climbed 9.1%, a solid gain. That means unit capital growth outstripped the rise in rental income over the 12 months, and the unit side has moved faster than the house side on both value and rent.

Houses in Cannonvale also recorded solid value growth, up 9.2%, while house rents rose 4.2%, a modest increase. If capital growth or rental income matters more to you, these are the figures to weigh against your own 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.

	Houses	Units
Median price Past 3 months	$850K	$530K
Change in value Past 12 months	9.2%	19.0%
Sold Past 3 months	30	28
Median days on market Past 12 months	21	25
Average rent Past 12 months	$750	$600
Change in rent Past 12 months	4.2%	9.1%

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