Question 1

Is Orbost a nice place to live?

Accepted Answer

Orbost is a country service town on the Snowy River floodplain where the East Gippsland Rail Trail finishes and outdoor access to river and bushland is close at hand.

The community is older, with incomes below the median for Victoria, many households owning their homes outright and couples without children the largest family group; 2,264 people live in Orbost. Everyday life centres on a low-rise main street of shops and practical services supporting local agriculture and timber districts, river recreation such as fishing and bush tracks, and a housing mix from modest town cottages to rural blocks, and the Orbost Regional Health residential aged care redevelopment was completed, delivering a new 38-bed public aged care facility.

Question 2

Is it expensive to live in Orbost?

Accepted Answer

In Orbost, a typical local household earned about $785 a week at the most recent Census. With house rent around $400 a week, renting would take about 51% of a typical local household's weekly income, a large share of income. The median house price of $410,000 works out to about 10.0 times a typical local annual household income, so buying sits well above what local households earned at the Census. If you're comparing renting and buying, the rent share and the price multiple are the figures that matter for assessing cost against 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 Orbost a good place to invest?

Accepted Answer

Rent moves stand out in Orbost: house rents rose a solid 5.3% over the past 12 months, while median house values increased a more modest 2.5%. For houses, that means rental income grew faster than capital growth during the period.

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	$410K	N/A
Change in value Past 12 months	2.5%	N/A
Sold Past 3 months	12	N/A
Median days on market Past 12 months	127	N/A
Average rent Past 12 months	$400	N/A
Change in rent Past 12 months	5.3%	N/A

	Suburb	VIC
Median age years	53	38
Median household income weekly	$785	$1,759
Couples with children share of families	30.5%	45.5%
Couples without children share of families	48.6%	37.6%
One-parent families share of families	18.6%	15.2%
Homes owned outright share of homes	55.3%	33.2%
Homes with a mortgage share of homes	22.1%	37.3%
Homes rented share of homes	22.6%	29.5%

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