Question 1

Is Clare a nice place to live?

Accepted Answer

Clare sits in the Clare Valley wine region among vine-clad hills and limestone ridges. Its compact, heritage-lined main street of stone buildings has cafes, cellar doors and independent shops, and the town acts as a service centre for surrounding farms and vineyards. Life here tends to be centred on food, wine and outdoor recreation, with walking and cycling on the popular Riesling Trail and easy access to country drives and picnic spots.

Clare is a community of 3,238 people with a median age of 45. The typical household earns $1,302 a week, which is about $67,700 a year.

Families are dominated by couples: couple families without children are the largest group at 51.1%, and together with couple families with children (32.4%) they make up 83.5% of families. One-parent families account for 15.6% and other families 0.9%.

Homes in Clare are mostly owner-occupied, with owner-occupiers making up about 70% of households (37.8% owned outright and 32.0% owned with a mortgage). Renters represent 30.1% of households.

Question 2

Is it expensive to live in Clare?

Accepted Answer

With a median house price of $550,000, buying in Clare works out to about 8.1 times a typical local household's annual income as recorded at the most recent Census (median household income $1,302 a week, or $67,704 a year). That sits well above local incomes at the last Census. Renting a house at about $460 a week would take roughly 35.3% of a typical local household's weekly income at the last Census, which is a sizeable share. On these figures, buying is the more stretched option against local incomes than renting.

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 Clare a good place to invest?

Accepted Answer

House values climbed a solid 8.4% over the past year, while the rent those houses earn rose a more modest 2.2%. In Clare, that means capital growth outpaced rental growth over the year, so the change in house price is the stronger movement for this period and the change in house rent is the figure that speaks to rental income.

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	$550K	N/A
Change in value Past 12 months	8.4%	N/A
Sold Past 3 months	19	1
Median days on market Past 12 months	72	N/A
Average rent Past 12 months	$460	N/A
Change in rent Past 12 months	2.2%	N/A

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