Question 1

Is Olinda a nice place to live?

Accepted Answer

Olinda is a leafy Dandenong Ranges suburb centred on a compact village of cafes, galleries, antique shops and plant nurseries, set among cool-climate gardens and tall eucalypt forest. Residential streets of weatherboard cottages, period bungalows and sloping, garden-filled blocks give a semi-rural, retreat-like feel, and the nearby Botanic Garden, Sherbrooke Forest and walking tracks suit people who enjoy gardening and outdoor recreation while the city remains a short drive away.

Home to 1,773 people with a median age of 45 and a typical household weekly income of $1,995, Olinda has a high share of owner-occupied homes (87.7%) and more than eight in ten families are couple families. Council-led works have upgraded the Olinda Recreation Reserve pavilion with a solar and battery system and further reserve improvements plus hike and bike links are planned. Olinda Community House and temporary preschool arrangements at Olinda Primary add local services. Whether that matches what you want from a suburb depends on your priorities.

Question 2

Is it expensive to live in Olinda?

Accepted Answer

Houses in Olinda have a current median price of $1,180,000. Against a typical local household income of about $1,995 a week as recorded at the most recent Census, that price is roughly 11.4 times a local year's household income at the last Census, which sits well above local incomes. House rent of about $750 a week would take roughly 37.6% of a typical local household's weekly income at the last Census, a sizeable share. On these figures, buying is notably more stretched against local incomes than renting, and which matters most will depend on whether you plan to buy or rent.

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 Olinda a good place to invest?

Accepted Answer

House values in Olinda rose 9.7% over the past 12 months, a solid gain in what a house here is worth. Over the same period, house rents edged up 1.4%, so the rise in capital value was noticeably larger than the change in rental income.

For someone weighing Olinda up as an investment, that means the past year favoured price growth more than rent growth. Which matters more will depend on your goals and circumstances rather than these two numbers alone.

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	$1.18M	N/A
Change in value Past 12 months	9.7%	N/A
Sold Past 3 months	11	N/A
Median days on market Past 12 months	45	N/A
Average rent Past 12 months	$750	N/A
Change in rent Past 12 months	1.4%	N/A

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