Question 1

Is Officer South a nice place to live?

Accepted Answer

Officer South is a semi-rural pocket on Melbourne’s south-eastern fringe, just south of the Officer township. It is defined by rolling paddocks, remnant bush and creek corridors and made up of low-density housing and lifestyle blocks rather than dense urban streets. The community of 1,159 has a median age of 31 and a median total household income of $2,085 a week. Families are overwhelmingly couples, and most homes are owner-occupied (63.4% with a mortgage and 29.6% outright). The area suits people seeking larger blocks and an outdoor-oriented lifestyle, including horse owners and those after a quieter, country-style setting.

Local roads link Officer South to nearby Officer and Pakenham for shops, schools and the train line. A precinct plan is in place to establish an employment-focused area with an infrastructure contributions plan, locations for local community facilities and childcare, and provision for a potential non-government school, and it identifies new arterial links and bridge connections that will tie into the existing Officer activity centre and train station.

Question 2

Is it expensive to live in Officer South?

Accepted Answer

Buying a house in Officer South sits well above what a typical local household earned at the last Census. The median house price of $827,500 is about 7.6 times a typical local household's annual income at the last Census (weekly household income $2,085, annualised to $108,420). Renting a house at about $650 a week would take roughly 31.2% of that weekly household income, which is a sizeable share. On these figures, buying looks more stretched against local incomes at the last Census while renting would still take a significant portion of a typical household's income.

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 Officer South a good place to invest?

Accepted Answer

Over the past 12 months in Officer South, median house values rose 1.0%, a slight increase, while house rents increased 3.2%, a modest rise. In other words, the income side grew faster than capital value over the year for houses.

If rental income is your priority, the 3.2% rent movement is the figure that matters; if capital growth matters more, the 1.0% change in house values is the relevant number. Whether that balance makes Officer South a suitable investment depends 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	$828K	N/A
Change in value Past 12 months	1.0%	N/A
Sold Past 3 months	11	N/A
Median days on market Past 12 months	35	N/A
Average rent Past 12 months	$650	N/A
Change in rent Past 12 months	3.2%	N/A

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