Question 1

Is Elliminyt a nice place to live?

Accepted Answer

Elliminyt is a quiet residential suburb on the eastern edge of Colac with a semi-rural feel and calm, leafy streets. It has a mix of detached homes and small acreage blocks and is weighted towards families, with couple families with children the largest group and roughly nine in ten homes owner-occupied.

Everyday needs are met in nearby Colac by shops, schools and health services, while Lake Colac and the surrounding farmland and forest country are close for fishing, walking and weekend outings. The Elliminyt Wetlands project is creating substantial new open space, landscaping and community amenities and has already held a community opening event. The council has a master plan for the recreation reserve, new footpath links have been identified to improve connections to schools and facilities, and Barwon Water has signalled further pipeline works. For people wanting more space without giving up town services, Elliminyt is worth considering.

Question 2

Is it expensive to live in Elliminyt?

Accepted Answer

Measured against the suburb's household income as recorded at the most recent Census, housing in Elliminyt looks different for renters and buyers. A house rent of $550 a week would take about 30.3% of a typical local household's weekly income, a sizeable share. The median house price of $715,000 is about 7.6 times a typical local annual household income, so buying sits well above what people locally earned at the last 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 Elliminyt a good place to invest?

Accepted Answer

If you're weighing Elliminyt as an investment, the past year shows a split between house prices and the rent houses earn. House values fell 2.2% over the 12 months, a modest decline, while house rents rose 10.0%, a strong increase. That means the rent a house earns has been the stronger performer this year compared with its price, and which of those outcomes matters to you 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	$715K	N/A
Change in value Past 12 months	-2.2%	N/A
Sold Past 3 months	13	3
Median days on market Past 12 months	59	N/A
Average rent Past 12 months	$550	N/A
Change in rent Past 12 months	10.0%	N/A

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