Question 1

Is North Ward a nice place to live?

Accepted Answer

North Ward sits beside The Strand and Cleveland Bay with Castle Hill nearby. Its tree-lined streets mix timber Queenslander homes and low-rise apartments around parkland, a coastal promenade and a strip of cafes, restaurants and small shops.

The community includes many renters and couples without children at home, with renters occupying 58.9% of homes. Everyday amenity centres on The Strand's reserves, paths and promenade for walking, cycling and picnics, along with the coastal strip of eateries and easy access to the city centre and the ferry terminal for Magnetic Island. The North Rail Yards redevelopment has reached a major milestone, with restoration of heritage buildings and site decontamination reported underway, and is planned to deliver higher-density housing, commercial uses and public spaces.

Question 2

Is it expensive to live in North Ward?

Accepted Answer

Buying a house in North Ward sits well above local incomes. A median house price of $1,395,000 is about 17.9 times a typical local annual household income, and a typical local household earned about $1,500 a week at the last Census. Median unit prices of $565,000 work out to about 7.2 times a typical local annual household income.

Rents run to $580 a week for houses and $490 a week for units, which would take about 39% and 33% respectively of a typical local household's weekly income. On these figures, buying is much more stretched against local incomes than renting, although renting would still take a sizeable share of income for a typical local household.

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 North Ward a good place to invest?

Accepted Answer

A large 36.3% jump in unit values stands out for North Ward over the past 12 months. Over the same period house values rose 7.9%, house rents climbed 17.2% and unit rents rose 8.9%.

Put another way, for houses rental income grew faster than house capital growth (house rents up 17.2% versus house values up 7.9%). For units the reverse is true: unit capital growth far outpaced unit rental income (unit values up 36.3% versus unit rents up 8.9%).

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	$1.40M	$565K
Change in value Past 12 months	7.9%	36.3%
Sold Past 3 months	16	44
Median days on market Past 12 months	48	16
Average rent Past 12 months	$580	$490
Change in rent Past 12 months	17.2%	8.9%

	Suburb	QLD
Median age years	40	38
Median household income weekly	$1,500	$1,675
Couples with children share of families	28.4%	41.2%
Couples without children share of families	52.7%	40.3%
One-parent families share of families	16.9%	16.8%
Homes owned outright share of homes	23.2%	30.1%
Homes with a mortgage share of homes	17.9%	35.6%
Homes rented share of homes	58.9%	34.3%

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