Question 1

Is Park Grove a nice place to live?

Accepted Answer

Park Grove is an established residential suburb of Burnie with tree-lined streets and a mix of post-war weatherboard cottages and newer brick family homes. It has a quietly suburban, family-oriented character and attracts locals who value easy access to town amenities without living in the centre. Residents are close to Burnie's waterfront, coastal walking tracks and recreation reserves, and local shops and community facilities are within easy reach. Regular public transport connects to the town centre, making Park Grove a practical, close-to-coast place to live.

About 2,613 people live in Park Grove and households are dominated by couple families, together about 85% of families, while owner-occupiers make up 79.1% of homes. Homes Tasmania has tendered a subdivision to create 55 lots, most planned for sale through the MyHome shared equity program with a smaller share for social housing. The nearby University of Tasmania Cradle Coast campus has a redeveloped Field Building, and local transport works include a roundabout at Futuna Avenue and West Park Grove. Whether it suits you depends on what you want from a suburb.

Question 2

Is it expensive to live in Park Grove?

Accepted Answer

At a median of $742,500, a house in Park Grove works out to about 8.1 times a typical local household's annual income as recorded at the most recent Census, which puts buying well above what households there earned at that Census. By contrast, the average house rent of $523 a week would take roughly 29.6% of a typical local household's weekly income at the most recent Census, or just under a third, a moderate share. On these figures, buying looks more stretched against local incomes than renting does.

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 Park Grove a good place to invest?

Accepted Answer

Over the past 12 months the house market in Park Grove showed a strong rise in values and a solid lift in rents. Median house values climbed 23.7% while house rents rose 6.7%, meaning capital growth outpaced rental income on houses over that year. Whether that balance fits your investment goals depends on your 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	$743K	N/A
Change in value Past 12 months	23.7%	N/A
Sold Past 3 months	10	1
Median days on market Past 12 months	31	27
Average rent Past 12 months	$523	N/A
Change in rent Past 12 months	6.7%	N/A

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