Question 1

Is Centennial Park a nice place to live?

Accepted Answer

Centennial Park is a charming suburb that offers a delightful blend of urban convenience and natural beauty, making it a fantastic place to live. Nestled in the heart of Albany, this suburb is known for its serene atmosphere and community-focused lifestyle. The area is perfect for families, with its proximity to schools, healthcare facilities, and recreational spaces, ensuring that all essential amenities are within easy reach. The suburb's vibrant vibe is complemented by its access to the stunning coastline and national parks, providing residents with ample opportunities for outdoor activities and relaxation.

Safety and a strong sense of community are hallmarks of Centennial Park, making it an attractive choice for families and retirees alike. The suburb's peaceful environment and close-knit community atmosphere offer a welcoming haven for those seeking a quieter pace of life. While it may not boast the bustling nightlife of larger urban centers, Centennial Park makes up for it with its tranquil charm and the convenience of being close to Albany's CBD. This balance of serenity and accessibility is a significant draw for those looking to enjoy a relaxed lifestyle without sacrificing urban amenities.

However, living in Centennial Park does come with some trade-offs. The suburb's appeal to older adults and retirees means that it may not have the same youthful energy as other areas, and the housing market reflects a stable, established community with a significant proportion of properties owned outright. This can limit the availability of rental properties for those not looking to buy. Despite these considerations, Centennial Park remains a desirable location for families and individuals who value a peaceful, community-oriented environment with easy access to both urban conveniences and natural wonders.

Question 2

Is it expensive to live in Centennial Park?

Accepted Answer

Living in Centennial Park presents a unique scenario when it comes to evaluating its expense. With the median house and unit prices currently sitting at $0, it suggests that there might not be enough recent sales data to establish a clear market trend. However, the average rent for houses over the last 12 months is $550 per week. This figure gives some insight into the cost of living in the area, at least in terms of rental expenses.

When comparing the local median total household income of $823 per week to the state average annual wage of approximately AUD 100,000, it becomes evident that the household income in Centennial Park is significantly lower than the state average. This discrepancy indicates that renting a house could consume a large portion of a typical household's income, especially when compared to the state average earnings.

Overall, while the lack of current property prices makes it challenging to fully assess the cost of living in Centennial Park, the available rental data suggests that it might be relatively expensive for those earning below the state average wage. If you are thinking of living in Centennial Park, it's important to consider how the local income levels align with the rental costs to ensure it fits within your budget.

Question 3

Is Centennial Park a good place to invest?

Accepted Answer

Centennial Park presents an intriguing investment opportunity, particularly for those interested in capital growth. Over the past year, the suburb has experienced a significant 40.4% increase in median house values, indicating strong demand and potential for appreciation. This rapid growth suggests that Centennial Park is becoming increasingly popular, possibly due to its appealing lifestyle or proximity to key amenities.

However, it's important to note that while house values have surged, the median unit values and rental prices for both houses and units have remained stable over the same period. This stability in rental prices might suggest a balanced rental market, which could be appealing for investors seeking consistent rental income without the volatility of fluctuating rents.

Overall, Centennial Park seems to offer a promising opportunity for capital growth, especially for those investing in houses. The lack of change in unit values and rental prices could indicate a more stable market for those looking for steady returns. As always, understanding the local market dynamics and potential future developments in the area will be key to making the most of an investment in this suburb.

	Houses	Units
Median price Past 3 months	N/A	N/A
Change in value Past 12 months	32.7%	N/A
Sold Past 3 months	3	N/A
Median days on market Past 12 months	53	N/A
Average rent Past 12 months	$610	N/A
Change in rent Past 12 months	23.2%	N/A

Get a property report and suburb profile for any property in Centennial Park

Centennial Park suburb profile

Centennial Park property market performance

5 year median price trend for houses and units

Centennial Park demographics

Suburbs near Centennial Park

How does Centennial Park compare to nearby suburbs?

Choose the right real estate agents in Centennial Park

Get a head start and compare top local agents in Centennial Park

Not quite ready to sell?

Suburb and property report

Digital estimate for your property

Navigate the market