Question 1

Is Colyton a nice place to live?

Accepted Answer

Colyton is an established residential suburb with a quietly suburban feel. Streets are lined with modest single-storey brick homes, older bungalows and some newer infill, and parks and sports fields are scattered through the area. Everyday life centres on a small local shopping strip and community facilities, while buses and nearby commuter rail services link residents to larger commercial centres. The suburb has about 8,770 people and a median age of 36, with a typical household income of $1,539 a week (roughly $80,000 a year).

It tends to attract families, local workers and long-term residents seeking practical, affordable housing; family households are prominent and most homes are owner-occupied (66.1%) while 33.9% are rented. The area has seen council-led upgrades to open space and sports fields, there have been works and temporary demountable classrooms at local schools, and a development consent exists for refurbishment of the Colyton Neighbourhood Centre. Whether that suits you depends on what you’re looking for in a suburb.

Question 2

Is it expensive to live in Colyton?

Accepted Answer

Buying in Colyton sits well above what local households earned at the last Census. A median house price of $1,040,000 works out to about 13 times a typical local household's annual income at the last Census.

Renting also takes a sizeable share of local income: the average house rent of $600 a week is about 39% of a typical local household's weekly income at the last Census, while a unit at $495 a week is about 32%. If you are renting rather than buying, that rent share is the number that matters when judging cost.

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 Colyton a good place to invest?

Accepted Answer

House values in Colyton climbed 15.2% over the past 12 months, a strong rise in what houses are worth. Over the same period house rents increased a more modest 3.4%, so on the houses side capital growth outpaced rental income this year.

Unit rents jumped 11.2% over the year, a strong rise and notably faster than the increase in house rents, so if rental income is your priority the unit rent figure has been the stronger performer this year. Whether that balance fits your investment goals depends on your own 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	$1.04M	N/A
Change in value Past 12 months	15.2%	N/A
Sold Past 3 months	16	N/A
Median days on market Past 12 months	15	N/A
Average rent Past 12 months	$600	$495
Change in rent Past 12 months	3.4%	11.2%

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