Question 1

Is Eastwood a nice place to live?

Accepted Answer

Eastwood is a small, low-density suburb on Bairnsdale’s eastern fringe with a semi-rural feel. Housing is mainly single-storey homes and rural-residential blocks that edge into bush and river country, and day-to-day travel is typically by road via the Princes Highway. With a population of 2,855 and a median age of 50, the community is weighted towards couple households and an older profile, and most homes are owner-occupied (82.9%).

Everyday amenity includes a completed neighbourhood playspace beside the Eastwood shopping precinct and Lucknow Primary School, featuring an all-abilities play area, picnic shelters, barbecues and an accessible toilet. At a town scale there is precinct planning under way through the Bairnsdale 2050 program and related East Bairnsdale/Lucknow planning, and the regional hospital is progressing worker accommodation and broader redevelopment planning. If you value a quieter regional lifestyle with ready access to Bairnsdale’s shops, schools and the Mitchell River corridor, Eastwood is worth considering; whether it suits you depends on what you want from a suburb.

Question 2

Is it expensive to live in Eastwood?

Accepted Answer

On the figures, housing in Eastwood (VIC 3875) looks stretched against local incomes recorded at the most recent Census. A house renting for $545 a week would take about 41.8% of a typical local household's weekly income at the last Census, a large share. The median house price of $608,500 works out to about 9.0 times a typical local annual household income at the last Census, which sits in the high multiple range. For renters the rent share is the most relevant measure, while buyers will look to the price multiple; 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 Eastwood a good place to invest?

Accepted Answer

If you're weighing Eastwood as an investment, the past year shows modest movement on the house side. Median house values rose 2.7% over the 12 months, and house rents increased 2.8%.

Both changes are modest, with rents marginally outpacing price growth, so over the year rental income and capital growth moved at a similar, small pace. Which of those outcomes matters most will depend on your own 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	$609K	N/A
Change in value Past 12 months	2.7%	N/A
Sold Past 3 months	11	N/A
Median days on market Past 12 months	76	N/A
Average rent Past 12 months	$545	N/A
Change in rent Past 12 months	2.8%	N/A

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