Question 1

Is Chirnside Park a nice place to live?

Accepted Answer

Chirnside Park sits on the fringe of the Yarra Valley and has an established, semi-rural character defined by leafy streets and generous block sizes. Housing is largely detached brick homes with pockets of newer subdivision, and a local shopping centre and small retail strip provide everyday conveniences. Parks, sporting fields, walking routes, schools and community clubs are central to life here, and a major urban park now provides an all-abilities playground, urban forest, wetlands upgrades, picnic shelters, event space and extra parking.

Home to 11,779 people with a median age of 38, Chirnside Park is weighted towards families — about 85% of reported families are couple households — and most homes are owner-occupied, which gives it a settled, owner-occupied feel. Commuter links on nearby roads and the regional rail corridor make access to the city and valley attractions straightforward. Whether it suits you will depend on how much you value larger blocks, local parks and community amenities.

Question 2

Is it expensive to live in Chirnside Park?

Accepted Answer

On the figures for Chirnside Park, renting a house at about $680 a week would take roughly 32.7% of a typical local household's weekly income at the last Census, which is a sizeable share. Buying is more stretched: a median house price of $950,000 works out to about 8.8 times a typical local household's annual income at the last Census, a high multiple against local incomes. So on these figures, buying a house looks noticeably more stretched against what local households earned at the last Census than renting does.

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 Chirnside Park a good place to invest?

Accepted Answer

Median unit values in Chirnside Park fell sharply over the past 12 months, down 50.1%, while median house values rose a solid 6.8% over the same period. That means the picture for capital growth is very different for houses and units this year, with houses showing positive movement and units showing a large decline.

House rents rose a modest 3.8% over the year, so if rental income is your primary concern the house rent figure is the relevant movement to consider. Whether that mix of value and rent movements fits your investment goals depends on your objectives 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	$950K	N/A
Change in value Past 12 months	6.8%	-50.1%
Sold Past 3 months	46	3
Median days on market Past 12 months	19	N/A
Average rent Past 12 months	$680	N/A
Change in rent Past 12 months	3.8%	N/A

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