Question 1

Is Nar Nar Goon a nice place to live?

Accepted Answer

Nar Nar Goon is a small semi-rural community in Victoria’s outer south-east, centred on a compact village strip of shops and services and served by a railway station on the Gippsland line. The surrounding paddocks, hobby farms and treed blocks give a country feel, with a mix of older cottages, rural-residential lots and larger acreage properties. Outdoor recreation is close at hand, with nearby bushland and river country including Bunyip State Park and local sporting clubs, so it suits people after a quieter, rural lifestyle who still want links to larger towns.

The suburb has 1,023 residents and a median age of 41, and families are prominent: couple families with children are 46.4% and together with couple families without children make up about four in five families (81.8%). Most homes are owner-occupied (a combined 77.1%) while renters are 22.8%. Recent upgrades to the station, rail corridor works, council road sealing and a draft township strategy proposing masterplans for local parks and better access to open space show ongoing attention to local amenity and connectivity. Whether Nar Nar Goon suits you depends on how much you value a country-style base with basic village services.

Question 2

Is it expensive to live in Nar Nar Goon?

Accepted Answer

At a median house price of $619,500, buying in Nar Nar Goon works out to about 7.2 times a typical local household's annual income at the last Census, placing buying well above local incomes at that time.

For renters, a house rent of about $630 a week would take roughly 38% of a typical local household's weekly income at the last Census, which is a sizeable share. Which of these measures matters depends on whether you plan to rent or buy and on your personal situation.

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 Nar Nar Goon a good place to invest?

Accepted Answer

For someone weighing Nar Nar Goon as an investment, the figures for houses point the other way over the past year: median house values fell 7.0% while the rent houses earn rose 5.0%. That means capital value for houses dropped over the year even as rental income from houses increased, so the rent side was the stronger performer in this twelve month period. Whether that balance suits your goals and circumstances is for you to decide.

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	$620K	N/A
Change in value Past 12 months	-7.0%	N/A
Sold Past 3 months	16	N/A
Median days on market Past 12 months	52	N/A
Average rent Past 12 months	$630	N/A
Change in rent Past 12 months	5.0%	N/A

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