Question 1

Is Goolwa a nice place to live?

Accepted Answer

Goolwa is a riverside coastal town where daily life is centred on the water. The streets mix weatherboard cottages and heritage buildings with newer riverside and holiday homes, and residents have easy access to boating, fishing, beaches and the estuary. The town centre is compact, with cafes, galleries and community venues close by, and nearby sandbanks, the Murray Mouth and the Coorong give the area a strong outdoors and nature focus.

With a population of 2,558 and a median age of 67, the community is weighted towards older residents and families dominated by couples without children (68.6%). About three in four homes are owner-occupied. Recent public amenity work has refreshed the wharf precinct and other community facilities, and there have been upgrades to schools, aquatic and marine facilities plus public-realm improvements around the waterfront. Whether Goolwa suits you comes down to whether a water-centred, settled town with those community characteristics fits what you want.

Question 2

Is it expensive to live in Goolwa?

Accepted Answer

On the figures, housing in Goolwa sits well above local incomes at the last Census. A median house price of $805,000 is about 19.6 times a typical local annual household income at the last Census (805,000 ÷ (790 × 52) ? 19.6). Renting a house at about $500 a week would take roughly 63.3% of a typical local household's weekly income at the last Census (500 ÷ 790 ? 63.3%). Buying therefore sits well above what people locally earned at the last Census, and renting would use 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 Goolwa a good place to invest?

Accepted Answer

House values in Goolwa climbed 22.8% over the past 12 months, a strong rise in what houses are worth. Over the same period the rent houses earn increased by 11.1%, also a strong gain though smaller than the price movement.

If you are weighing Goolwa up as an investment, the figures show that capital growth on houses outpaced rental growth over the year. Which of those two outcomes matters more to you will depend on your own objectives 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	$805K	N/A
Change in value Past 12 months	22.8%	N/A
Sold Past 3 months	19	1
Median days on market Past 12 months	66	N/A
Average rent Past 12 months	$500	N/A
Change in rent Past 12 months	11.1%	N/A

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