Question 1

Is Irymple a nice place to live?

Accepted Answer

Irymple is a residential satellite of Mildura in Victoria’s Sunraysia region, set among irrigated horticultural country. Daily life centres on a compact town centre of shops and services, primary schools and sporting clubs. Housing is largely single-storey detached homes, from older weatherboard and brick houses to newer estate subdivisions on the fringes. The Murray River and nearby reserves provide water recreation and surrounding orchards reflect the local irrigation economy, while road links to Mildura keep larger facilities within reach and the suburb maintains a quieter small-town pace.

Irymple is a community of 5,977 people with a median age of 40. The median total household income is $1,606 a week, roughly $83,500 a year.

Family types are dominated by couples: couple families with children are the largest group at 44.2% (700 families), and together with couple families without children (42.2%, 668 families) they make up 86.4% of families. One-parent families account for 11.9% and other families 1.6%.

Homes in Irymple are predominantly owner-occupied: 38.7% are owned outright and 43.4% are owned with a mortgage, giving an overall owner-occupation rate of 82.1%, while 17.8% of dwellings are rented.

Question 2

Is it expensive to live in Irymple?

Accepted Answer

Buying looks relatively stretched against local incomes in Irymple. The median house price of $705,000 is about 8.4 times a typical local household's annual income at the last Census (weekly income $1,606 × 52 = $83,512), which sits well above local incomes. Renting a house at about $570 a week would take roughly 35.5% of a typical local household's weekly income at the last Census, a sizeable share. On these figures, buying is the more stretched option compared with renting, though 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 Irymple a good place to invest?

Accepted Answer

In Irymple, median house values rose 11.7% over the past 12 months and the rent a house earns increased 14.0% in the same period. That means the housing side showed both capital growth (the value change) and rising rental income (the rent change), with house rents growing slightly faster than house prices this year.

Which of those movements matters most depends on your goals: stronger rent growth is the figure to weigh if rental income is your priority, while the price rise is the measure for capital growth. Whether Irymple suits your needs as an investment depends on your own circumstances and objectives.

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	$705K	N/A
Change in value Past 12 months	11.7%	N/A
Sold Past 3 months	24	2
Median days on market Past 12 months	23	N/A
Average rent Past 12 months	$570	N/A
Change in rent Past 12 months	14.0%	N/A

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