Question 1

Is Grafton a nice place to live?

Accepted Answer

Grafton is a riverside regional centre on the Clarence River, known for its jacaranda-lined avenues and a well preserved historic main street. Weatherboard Federation and Victorian cottages sit close to the water, with larger rural properties on the outskirts, creating a country-meets-town feel. Riverfront parks and wharves are used for boating and fishing, while cafes, boutique shops and civic buildings cluster near the Grafton Bridge. The town is served by the North Coast rail line and hosts an annual Jacaranda Festival.

The community of 10,563 people has a median age of 44 and a median household income of $1,179 a week. Family life is prominent and most homes are owner-occupied (65%), and the town acts as a service hub for surrounding farming communities, attracting families, retirees and people after a quieter regional lifestyle. Substantial local investment in health infrastructure, plus library repairs and adaptive reuse of the former correctional centre, mean services are being upgraded. Whether Grafton suits you comes down to whether that mix fits what you want from a regional centre.

Question 2

Is it expensive to live in Grafton?

Accepted Answer

On the figures here, housing in Grafton sits well above what local households earned at the last Census. A median house price of $550,000 is about 9.0 times a typical local household's annual income as recorded at the most recent Census (weekly household income $1,179, or $61,308 a year). Renting also takes a large share of income: a house at $530 a week would use roughly 45% of that weekly household income, while a unit at $440 a week would take about 37%. Buying looks particularly stretched against those local incomes, and renting still represents a sizeable to large share of a typical household's income at the last Census.

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 Grafton a good place to invest?

Accepted Answer

Property values in Grafton climbed strongly over the past year, with median house values up 12.2% and median unit values up 12.7%. Rents rose as well: house rents increased 6.0% (a solid rise) while unit rents jumped 10.0% (a strong rise). For houses this year, capital growth outpaced rental growth, while for units both values and rents rose strongly with values slightly ahead.

If you are weighing Grafton as an investment, the value figures speak to capital growth and the rent figures speak to rental income. Which of those matters more will depend on your own goals and circumstances rather than these numbers alone.

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	$550K	N/A
Change in value Past 12 months	12.2%	12.7%
Sold Past 3 months	55	7
Median days on market Past 12 months	38	41
Average rent Past 12 months	$530	$440
Change in rent Past 12 months	6.0%	10.0%

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