Question 1

Is Penguin a nice place to live?

Accepted Answer

Penguin is a compact coastal town on Tasmania’s north-west coast fronting Bass Strait, centred on a small foreshore and the town’s iconic penguin statue. It has a relaxed seaside village feel, with a café-lined main street of independent shops, a foreshore promenade and sandy beaches. Housing ranges from historic weatherboard cottages and modest postwar homes to newer residential pockets and some waterfront units, and the town is linked to neighbouring centres by the Bass Highway.

About 4,132 people live in Penguin, with a median age of 47 and a typical household income of $1,301 a week. The community leans towards couples, and most homes are owner-occupied. There is active council and state investment in local facilities and the public realm, including upgrades at the regional sports complex, road improvements that ease access to recreation, a reopened jetty and planning for housing and a possible shared coastal pathway. Whether Penguin suits you will come down to what you want from a small coastal town.

Question 2

Is it expensive to live in Penguin?

Accepted Answer

A median house price of $658,750 in Penguin works out to about 9.7 times a typical local annual household income at the last Census, which sits well above local incomes. That gives a quick sense of how buying compares with what households in the area earned at the time of the Census.

For renters, the average house rent of $470 a week would take about 36.1% of a typical local household's weekly income at the last Census, a sizeable share. On these figures, buying is more stretched against local incomes than renting; whether that feels expensive depends on your own income and circumstances.

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 Penguin a good place to invest?

Accepted Answer

House values in Penguin rose 9.5% over the past 12 months, a solid increase. Over the same period house rents increased 4.4%, a modest rise, so capital growth on houses has outpaced rental growth this year.

If you are weighing Penguin up as an investment, the value figure is the one that speaks to capital growth and the rent figure to rental income. Whether that balance suits your plans depends on your goals and personal 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	$659K	N/A
Change in value Past 12 months	9.5%	N/A
Sold Past 3 months	22	2
Median days on market Past 12 months	43	N/A
Average rent Past 12 months	$470	N/A
Change in rent Past 12 months	4.4%	N/A

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