Question 1

Is Gladstone Park a nice place to live?

Accepted Answer

Gladstone Park is a long-established residential suburb in Melbourne’s north west, with broad, tree-lined streets of mid-century brick homes alongside more recent family houses. Its community of 8,213 people has a median age of 42, and families are prominent, with couple families with children the largest group (43.6%). Most homes are owner-occupied (78.9%), and the suburb’s roomy backyards, parks and sports ovals give it a relaxed, suburban character distinct from nearby industrial and commercial areas.

Day-to-day life centres on a compact shopping centre, community facilities and neighbourhood schools, while regular bus services and easy access to Melbourne Airport and major roads help commuters. Recent local upgrades include works at Gladstone Park Reserve and a modernised tennis-club pavilion, the secondary college is progressing a staged modernisation, and regional construction is under way on the Sunshine interchange and Melbourne Airport rail works. Whether Gladstone Park suits you depends on what you value in a suburb.

Question 2

Is it expensive to live in Gladstone Park?

Accepted Answer

Houses in Gladstone Park are expensive relative to what local households were earning at the last Census. With a median house price of $835,000 and a typical local household income of $1,452 a week (about $75,504 a year), buying a house works out to roughly 11.1 times a typical local annual household income at the last Census, which sits well above local incomes.

If you're renting, house rents of $575 a week would take about 39.7% of a typical local household's weekly income at the last Census, roughly two-fifths of that income, a sizeable share. On these figures buying is considerably more stretched against local incomes than renting, though renting still takes a large chunk of a typical local household's income.

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 Gladstone Park a good place to invest?

Accepted Answer

Over the past year house values in Gladstone Park rose 8.6%, a solid increase, while house rents rose 2.7%, a modest rise. That means capital growth outpaced rental income over the 12 months, so the change in price was the stronger performer this year; whether that balance suits your needs depends 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	$835K	N/A
Change in value Past 12 months	8.6%	N/A
Sold Past 3 months	28	N/A
Median days on market Past 12 months	29	N/A
Average rent Past 12 months	$575	N/A
Change in rent Past 12 months	2.7%	N/A

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