Question 1

Is Quarry Hill a nice place to live?

Accepted Answer

Quarry Hill sits on the edge of Bendigo's urban area and offers a quieter, suburban pace while staying close to the city's services and cultural attractions. The suburb mixes older character cottages and single-storey brick homes with pockets of more recent housing on generous blocks, set among tree-lined streets, local parks and open playing fields. It is served by local bus links and straightforward road connections into Bendigo, and residents have easy access to schools, shops and health services without living in the busy centre; local schools include Quarry Hill Primary School and St Joseph's School.

Quarry Hill is a community of 2,365 people with a median age of 40. The typical household earns $1,648 a week, or about $85,700 a year.

Families are dominated by couples: couple families without children are 41.0% and couple families with children are 38.5%, together making up almost four in five families. One-parent families account for 19.0% and other families 1.6%.

Homes in Quarry Hill are mainly owner-occupied: 34.0% are owned outright and 29.8% are owned with a mortgage, so owner-occupiers represent 63.8% of dwellings while renters make up 36.2%.

Question 2

Is it expensive to live in Quarry Hill?

Accepted Answer

Buying a house in Quarry Hill at the median price of $680,000 works out to about 7.9 times a typical local household's annual income as recorded at the most recent Census, which places buying well above local incomes. Renting is less stretched: a house rent of $495 a week would take about 30.0% of a typical local household's weekly income at the last Census (a sizeable share), while a unit rent of $390 a week would take about 23.7% (a moderate share). If you're weighing renting versus buying, those rent shares and the price multiple are the most relevant figures to consider.

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 Quarry Hill a good place to invest?

Accepted Answer

House values climbed a strong 14.2% over the past 12 months, while house rents rose a solid 6.5%. Those two figures speak to capital growth and rental income on the house side of the market during the year.

Unit rents increased a modest 2.6% over the same period, so the rent a house earns rose more than a unit's this year. In Quarry Hill, the house side therefore showed larger increases in both value and rents over the past year; whether that balance suits your investment goals and circumstances is for you to weigh up.

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	$680K	N/A
Change in value Past 12 months	14.2%	N/A
Sold Past 3 months	15	3
Median days on market Past 12 months	32	N/A
Average rent Past 12 months	$495	$390
Change in rent Past 12 months	6.5%	2.6%

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