Question 1

Is Eastwood a nice place to live?

Accepted Answer

Eastwood is a small residential suburb on Bairnsdale's eastern fringe, noted for single-storey weatherboard and brick homes and occasional larger rural blocks.

The community is older, with couples without children the largest family group, making up 52.2% of families. Day-to-day life revolves around nearby Bairnsdale for shopping, schools and health services, while local parks and reserves provide space for walking and outdoor activity. The Eastwood playspace beside the shopping centre and Lucknow Primary School was completed, and a new accessible toilet block opened.

Question 2

Is it expensive to live in Eastwood?

Accepted Answer

On the figures, housing in Eastwood sits above what a typical local household earned at the last Census. A typical local household earned about $1,304 a week at the last Census. A median house price of $620,000 works out to about 9.1 times a typical local annual household income, and house rents around $545 a week would take about 42% of that weekly income, so renting also represents a large share of a typical local household's income. Whether that feels expensive depends on your own 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

Eastwood's house market has seen modest movement over the past 12 months: house rents rose 3.8% while house values rose 2.7%. For houses, rental income has edged ahead of capital growth.

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	$620K	N/A
Change in value Past 12 months	2.7%	N/A
Sold Past 3 months	15	N/A
Median days on market Past 12 months	67	N/A
Average rent Past 12 months	$545	N/A
Change in rent Past 12 months	3.8%	N/A

	Suburb	VIC
Median age years	50	38
Median household income weekly	$1,304	$1,759
Couples with children share of families	35.0%	45.5%
Couples without children share of families	52.2%	37.6%
One-parent families share of families	12.4%	15.2%
Homes owned outright share of homes	51.9%	33.2%
Homes with a mortgage share of homes	31.0%	37.3%
Homes rented share of homes	17.1%	29.5%

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