Question 1

Is Kilmore a nice place to live?

Accepted Answer

Kilmore is a historic regional town north of Melbourne with a broad main street framed by bluestone and Victorian-era buildings and open paddocks beyond the town centre. It serves surrounding agricultural land and a strong equestrian community and also attracts families and commuters who value a country lifestyle within reach of regional transport. Everyday needs are covered by local shops, cafes, sporting clubs and community facilities, and housing ranges from period cottages near the centre to newer family subdivisions on the outskirts.

A community of 9,207 people, Kilmore has a median age of 40 and a median total household income of $1,549 a week, roughly $80,500 a year.

Families are the dominant group: couple families with children are the largest single group at 42.7%, and together with couple families without children (38.9%) they account for just over eight in ten families. One-parent families make up 17.2% and other families 1.3%.

In Kilmore, most homes are owner-occupied: 33.7% are owned outright and 45.4% are owned with a mortgage, a combined owner-occupied share of 79.1%, while 20.9% of dwellings are rented.

Question 2

Is it expensive to live in Kilmore?

Accepted Answer

At a median house price of $630,000, buying a house in Kilmore works out to about 7.8 times a typical local household's annual income at the last Census, which puts buying well above local incomes on these figures.

Rents are lower relative to that Census income: $500 a week for a house would take about 32.2% of a typical local household's weekly income at the last Census, a sizeable share, while $400 a week for a unit would take about 25.8%, a moderate share. That means renting looks more manageable than buying on the numbers, though whether it 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 Kilmore a good place to invest?

Accepted Answer

The numbers show a clear split between houses and units in Kilmore over the past 12 months. Unit median values rose 9.6%, a solid increase, and unit rents rose 5.3%, a solid gain. House median values fell 2.4%, a modest decline, while house rents increased 3.1%, a modest rise.

For someone weighing Kilmore up as an investment, the value figures point to capital growth and the rent figures to rental income. Over the year units produced both stronger capital growth and stronger rental growth, while houses recorded a modest fall in value alongside a modest rent increase. Which of those patterns matters most depends on your 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	$630K	N/A
Change in value Past 12 months	-2.4%	9.6%
Sold Past 3 months	47	5
Median days on market Past 12 months	48	43
Average rent Past 12 months	$500	$400
Change in rent Past 12 months	3.1%	5.3%

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