Question 1

Is Coolaroo a nice place to live?

Accepted Answer

Coolaroo is a residential northern Melbourne suburb of low-rise brick homes and an increasing number of townhouses laid out on a generally flat, grid-style street plan. Parks, sports ovals and neighbourhood reserves are woven through the area, and families are prominent — couple families with children make up the largest group. The suburb attracts practical buyers, renters and commuters and is home to 3,193 people with a median age of 37 and a median household income of $1,025 a week (around $53,300 a year).

Everyday needs are met by a modest local shopping strip, community facilities and schools, while larger retail and employment centres sit close by on the suburban fringe. Commuters use Coolaroo railway station on the Craigieburn line and nearby arterial roads. Recent council-led works include Progress Reserve masterplan works and upgrades such as a new shared-use path through Canadian Court Reserve, and the Upfield Trail is being extended with plans to link further into Coolaroo; the local primary school has also received classroom and outdoor learning improvements.

Question 2

Is it expensive to live in Coolaroo?

Accepted Answer

House rents in Coolaroo sit at about $495 a week. Against a typical local household income of $1,025 a week as recorded at the most recent Census, that rent would take roughly 48% of income, which is a large share of a household's weekly earnings. For people renting rather than buying, that rent-share is the most relevant measure to compare with your own budget; whether it feels expensive depends on your individual circumstances.

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 Coolaroo a good place to invest?

Accepted Answer

House values in Coolaroo rose 14.9% over the past 12 months, a strong increase in the capital value of houses. Over the same period, the rent houses achieved fell by 1.0%, a slight decline, so capital growth has been the clearer performer this year compared with rental income. Which of those outcomes matters most depends on your own investment goals 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	N/A	N/A
Change in value Past 12 months	14.9%	N/A
Sold Past 3 months	10	N/A
Median days on market Past 12 months	35	N/A
Average rent Past 12 months	$495	N/A
Change in rent Past 12 months	-1.0%	N/A

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