Question 1

Is Creswick a nice place to live?

Accepted Answer

Creswick is a historic goldfields town in Victoria's Central Highlands near Ballarat, set among farmland and forested hills. The compact main street has 19th-century brick and timber buildings, a pub and independent shops, while nearby streets mix weatherboard cottages with larger rural properties. The town of 3,279 has a median age of 50 and a median household income of $1,144 a week.

Most homes are owner-occupied (81.0%) and couple families make up 83.1% of families, so the community leans settled and appeals to families, retirees and creative types. Outdoor recreation is strong with Creswick State Forest, walking and mountain-bike trails and the Djuwang Baring network with a trailhead and bike park beside Creswick Creek. Health services are provided by Creswick District Hospital and the Ochre Medical Centre, and planning around the train station is preparing for higher-density development. Whether Creswick suits you depends on if you want a relaxed country lifestyle with regional services.

Question 2

Is it expensive to live in Creswick?

Accepted Answer

Buying a house in Creswick at the median price of $582,500 works out to about 9.8 times a typical local annual household income at the last Census, which places house prices well above what people locally earned then. Renting a house at about $430 a week would take roughly 37.6% of a typical local household's weekly income at the last Census, a sizeable share, so on the figures renting looks less stretched than buying.

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 Creswick a good place to invest?

Accepted Answer

For someone weighing Creswick as an investment, the house market over the past 12 months shows both capital growth and rental income moved higher. House values increased 6.0% over the year, a solid rise, while house rents rose 5.4%, also a solid increase. Values edged slightly ahead of rents, so capital growth was the marginally stronger performer this year. Whether that balance suits your plans depends on your 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	$583K	N/A
Change in value Past 12 months	6.0%	N/A
Sold Past 3 months	16	N/A
Median days on market Past 12 months	73	N/A
Average rent Past 12 months	$430	N/A
Change in rent Past 12 months	5.4%	N/A

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