Question 1

Is Coronet Bay a nice place to live?

Accepted Answer

Coronet Bay is a small coastal village on Western Port with a low-lying foreshore, sheltered shallow waters and a relaxed beachside rhythm. It attracts a mix of permanent residents and holiday homeowners who value fishing, crabbing, boating and long walks along the shore. Housing is mostly modest single-storey homes and older weatherboard or fibro cottages on generous blocks, giving a low-density, informal character. Local shops and services are limited, so residents travel to nearby towns for schools and shopping; the area suits people after a quieter seaside lifestyle.

About 1,108 people live in Coronet Bay; the median age is 51 and the typical household earns $952 a week. Families make up most households, with around four in five family households being couples, and 78.9% of homes are owner-occupied. A master plan for Fred Gration Reserve sets out staged upgrades to park facilities and a small recreation precinct around the boat ramp, and the community garden has secured funding for a garden room and shelter. Whether Coronet Bay suits you will depend on how much you value coastal recreation and are comfortable travelling for services.

Question 2

Is it expensive to live in Coronet Bay?

Accepted Answer

Against what a typical household in Coronet Bay earned at the most recent Census, housing costs sit high. A house rent of $430 a week would take about 45.2% of a typical local household's weekly income as recorded at that Census, a large share. The median house price of $585,000 is about 11.8 times a typical local annual household income at the last Census, which sits well above local incomes.

If you're renting rather than buying, the rent share is the immediate figure to look at; if you're considering purchase, the price multiple shows buying is particularly stretched against what people locally earned at the Census. Whether that feels expensive depends on your own income and 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 Coronet Bay a good place to invest?

Accepted Answer

The past 12 months in Coronet Bay show a clear split for houses. Median house values climbed 15.8% over the year, a strong rise in their value, while house rents fell 4.4% over the same period, a moderate decline in the rent those homes earn. In other words, capital growth has been the stronger performer for houses this year while rental income has eased, and whether that balance fits your investment goals is for you to judge.

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	$585K	N/A
Change in value Past 12 months	15.8%	N/A
Sold Past 3 months	12	N/A
Median days on market Past 12 months	99	N/A
Average rent Past 12 months	$430	N/A
Change in rent Past 12 months	-4.4%	N/A

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