Question 1

Is Monbulk a nice place to live?

Accepted Answer

Monbulk is a small Dandenong Ranges town set in a green, hilly valley framed by eucalypt forest, fern gullies and a long history of garden nurseries. Its compact village centre has cafés, independent shops and community facilities, and housing ranges from weatherboard cottages and timber bungalows on sloping, treed blocks to larger rural-residential properties. The place suits a mix of families, creatives and people after a tree change.

Outdoor life is a feature, with walking tracks, reserves and Monbulk Creek creating a bushland backdrop, and road links and local buses connecting to Belgrave and the Belgrave train line. Monbulk is home to 3,651 people, with a median age of 41 and a median household income of $1,722 a week (about $89,544 a year). Homes are largely owner-occupied — owner-occupation accounts for 85.2% of dwellings and renters 14.8% — and council-supported upgrades to reserves, energy works and local playspaces are under way while some community services temporarily operate from Monbulk Hub.

Question 2

Is it expensive to live in Monbulk?

Accepted Answer

On the figures, housing costs in Monbulk look quite different for renters and buyers. House rent of $585 a week is about 34.0% of a typical local household's weekly income at the last Census ($1,722 a week), which is a sizeable share of income. The median house price of $775,500 works out to about 8.7 times a typical local annual household income at the last Census, a high multiple against local incomes.

If you're renting rather than buying, that rent share is the key number; if you're looking to buy, the price multiple shows buying sits well above what local households earned at the last Census. 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 Monbulk a good place to invest?

Accepted Answer

House values in Monbulk rose 13.5% over the past 12 months, a strong increase in what houses are worth. Over the same period, the rent houses achieved fell 14.6%, a sharp decline in rental income for houses.

Put simply, the figures show capital growth for houses last year while the income they generated from rent moved in the opposite direction. Which of those two outcomes matters to you will depend 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	$776K	N/A
Change in value Past 12 months	13.5%	N/A
Sold Past 3 months	10	N/A
Median days on market Past 12 months	24	N/A
Average rent Past 12 months	$585	N/A
Change in rent Past 12 months	-14.6%	N/A

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