Question 1

Is Myrtleford a nice place to live?

Accepted Answer

Myrtleford is a country service town in north-east Victoria’s Ovens Valley, on the Ovens River and the Great Alpine Road, and it acts as a gateway to the Victorian Alps. It serves an agricultural hinterland of orchards and grazing properties and keeps a compact main street of heritage buildings, shops and cafés that give the town a straightforward small-town feel. Housing ranges from weatherboard cottages on tree-lined streets to low-density rural blocks, so residents have a blend of township convenience and country space, with the river and nearby bushland available for fishing and walking and easy access to alpine recreation in winter.

The community of 3,285 has a median age of 50 and is weighted towards couple households; owner-occupation is common, with 76.5% of homes owned outright or with a mortgage. Recent and planned public projects — a new pedestrian and cycle bridge over the Ovens River, a rebuilt early-education centre, a district nursing walk-in clinic at the hospital, a splash park and sports facility upgrades — add to local services. Whether Myrtleford suits you depends on whether you value a compact country town with local amenities and nearby outdoor recreation.

Question 2

Is it expensive to live in Myrtleford?

Accepted Answer

Rents in Myrtleford run to $485 a week for houses and $380 a week for units. Against the typical local household weekly income at the last Census of $1,143, a house rent would take about 42.5% of that income and a unit rent about 33.3%. By the common size bands, the house rent represents a large share of a typical local household's weekly income and the unit rent a sizeable share.

For people renting rather than buying, those rent shares are the clearest measure to watch; whether they feel expensive will depend 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 Myrtleford a good place to invest?

Accepted Answer

House values in Myrtleford rose 4.0% over the past 12 months, a modest gain. House rents increased 3.2% over the same period, also a modest rise, so over the year capital growth for houses edged out rental income growth by a small margin.

If you're focused on capital growth, that 4.0% figure is the one to watch; if rental income is your priority, the 3.2% rent rise is the relevant movement. Whether that balance makes Myrtleford the right choice for your investment 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	N/A	N/A
Change in value Past 12 months	4.0%	N/A
Sold Past 3 months	5	1
Median days on market Past 12 months	97	N/A
Average rent Past 12 months	$485	$380
Change in rent Past 12 months	3.2%	N/A

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