Question 1

Is Old Bar a nice place to live?

Accepted Answer

Old Bar is a relaxed coastal village with a clear beachside character. Life there centres on a long surf beach, dunes and coastal reserves, and everyday pastimes include surfing, fishing, long beach walks and birdwatching. Housing ranges from weatherboard and fibro cottages to low-rise beach houses and holiday rentals, and several caravan parks sit close to the shore. A compact shopping strip and a surf lifesaving presence serve local needs, and the town is a short drive from larger regional centres.

The community numbers 5,126 people, has a median age of 50 and a median household income of $1,170 a week (about $60,840 a year). Homes are mainly owner-occupied (72.7%) with 27.3% rented, and the area draws families, retirees and holiday home owners. A council-led coastal management program is in place and the local surf club has been upgraded and received funding for accessibility work. Whether Old Bar suits you depends on the kind of coastal lifestyle you want.

Question 2

Is it expensive to live in Old Bar?

Accepted Answer

On the figures, buying in Old Bar sits well above local incomes at the last Census: the median house price of $799,500 is about 13.1 times a typical local annual household income at the last Census. Rents would also take a large share of that local income — a house rent of $650 a week is about 55.6% of a typical local household's weekly income at the last Census, and a unit rent of $490 a week is about 41.9%.

So, on these numbers, both renting and buying would represent a substantial cost against what households in Old Bar earned at the last Census, with buying markedly further above local incomes.

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 Old Bar a good place to invest?

Accepted Answer

Over the past 12 months the clearest story in Old Bar is that rental growth outpaced capital growth. House rents rose 8.3% and unit rents rose 6.5% over the year, both solid increases, while median house values increased 3.9% and unit values increased 3.2%, modest gains. If rental income is your priority, the rent movements are the figures to watch; if capital growth matters more, note the smaller rises in values. Whether that balance suits your goals depends on your own 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	$800K	N/A
Change in value Past 12 months	3.9%	3.2%
Sold Past 3 months	22	5
Median days on market Past 12 months	49	54
Average rent Past 12 months	$650	$490
Change in rent Past 12 months	8.3%	6.5%

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