Question 1

Is Eaglehawk a nice place to live?

Accepted Answer

Eaglehawk is a former goldfields town now part of Greater Bendigo, with a compact historic centre of shops, pubs and civic buildings that gives it a village feel. Timber miners' cottages and modest postwar brick homes sit beside pockets of newer suburban housing, and the gold-rush era is still visible in heritage facades and the street layout. Local sporting ovals, community clubs and market activity anchor the suburb, and residents have easy road and rail links to Bendigo as well as nearby parks, schools and everyday conveniences.

About 5,538 people live in Eaglehawk, with a median age of 43 and a typical household income of $1,140 a week. Couples make up three quarters of families and most homes are owner-occupied (70.5%), with 29.5% rented. Recent rail and station upgrades, an upgraded community health centre, a 129-home social and affordable housing project at Virginia Hill and council plans for town-centre and reserve renewals point to ongoing local investment. That mix will suit people seeking an established, village-style suburb with local clubs, schools and parks close by; whether it suits you depends on what you want.

Question 2

Is it expensive to live in Eaglehawk?

Accepted Answer

Buying a house in Eaglehawk works out to about 10.2 times a typical local annual household income at the last Census. That uses the median house price of $602,500 and a Census household weekly income of $1,140 (annualised to $59,280).

Renting looks different: a $510 a week house would take about 44.7% of a typical local household's weekly income at the last Census, a large share, while a $420 a week unit would take about 36.8%, a sizeable share. If you're renting rather than buying, those rent shares are the figures that matter.

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 Eaglehawk a good place to invest?

Accepted Answer

Unit values climbed 31.0% over the past year, a strong rise, and unit rents increased 18.3%, also a strong gain. In Eaglehawk the unit side has been the stronger performer for both capital growth (the value change) and rental income (the rent change) over the 12 months to date.

House values rose 13.0%, a strong increase, while house rents grew 6.2%, a solid gain, so on the houses side capital growth outpaced rental income this year. Which of those outcomes matters to you will depend on whether you prioritise capital growth or rental income and on your individual 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	$603K	N/A
Change in value Past 12 months	13.0%	31.0%
Sold Past 3 months	24	4
Median days on market Past 12 months	24	N/A
Average rent Past 12 months	$510	$420
Change in rent Past 12 months	6.3%	18.3%

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