Question 1

Is Coolamon a nice place to live?

Accepted Answer

Coolamon is a compact Riverina service town set among broad cropping country. Its tree-lined main street of heritage buildings, modest shops and community facilities supports farming families, commuters to nearby regional centres and retirees. Everyday life is organised around sporting clubs, volunteer organisations and seasonal events. Housing ranges from weatherboard cottages to larger brick homes on generous blocks, and there are straightforward road and rail connections.

The community numbers 2,275 people, with a median age of 42 and a typical household earning $1,427 a week (about $74,200 a year). About four in five dwellings are owner-occupied and 18.0% are rented, and couple families, with or without children, make up most households. Recent local projects include a new ambulance station, a business park with 22 lots, rail siding works, a major water mains renewal and school upgrades.

Question 2

Is it expensive to live in Coolamon?

Accepted Answer

Renting a house in Coolamon at $480 a week would take about 33.6% of a typical local household's weekly income of $1,427 as recorded at the most recent Census, which is roughly a third of that income and is a sizeable share. For people renting rather than buying, that rent share is the key figure when judging how costly the suburb feels on local incomes.

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 Coolamon a good place to invest?

Accepted Answer

House values in Coolamon climbed strongly over the past 12 months, up 35.3%, while house rents rose a solid 6.7% over the same period. The price increase for houses far outpaced the rise in rents this year.

For someone weighing Coolamon up as an investment, the 35.3% house value rise is the capital growth figure and the 6.7% rent rise is the rental income figure, so capital growth has been the stronger performer this year. Whether that balance suits your goals and circumstances is for you to weigh.

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	N/A	N/A
Change in value Past 12 months	35.3%	N/A
Sold Past 3 months	6	N/A
Median days on market Past 12 months	60	N/A
Average rent Past 12 months	$480	N/A
Change in rent Past 12 months	6.7%	N/A

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