Question 1

Is Research a nice place to live?

Accepted Answer

Research, in Melbourne’s outer north east, is a leafy, bushland suburb with a semi-rural, country-like character. Properties sit on generous, tree-filled blocks and range from older weatherboard cottages to contemporary homes set among native bush. Residents are often families and people who value outdoor life, with walking tracks, reserves and abundant birdlife on the doorstep. Local shops are limited, so people tend to go to nearby Eltham and other north-eastern centres for cafes, shopping and train services, and commuting by car is common.

The community numbers 2,695 people, with a median age of 44 and a median household income of $2,876 a week (about $149,552 a year). Families are the dominant household type, with couple families with children the largest group at 55.9%, and most homes are owner-occupied (46.6% owned outright and 47.4% owned with a mortgage). Research has a local primary school that received a substantial state-funded upgrade under the Victorian School Buildings program, and there are no significant new public infrastructure or civic projects reported in Research at this time.

Question 2

Is it expensive to live in Research?

Accepted Answer

On the current figures, buying a house in Research at a median price of $1,422,500 works out to about 9.5 times a typical local household's annual income at the last Census (weekly household income was $2,876, or $149,552 a year). Renting a house at about $730 a week would take roughly 25.4% of a typical local household's weekly income at the last Census, a moderate share. On these numbers, buying looks much more stretched against local incomes at the last Census than renting does; whether that feels expensive depends on your own 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 Research a good place to invest?

Accepted Answer

House values in Research climbed 6.7% over the past 12 months, a solid rise in what houses are worth. That percentage is the capital growth figure to focus on if you are weighing house price movement.

There isn't enough recent data for unit values or for rents to describe how those parts of the market performed over the same period, so the picture here is limited to house capital growth.

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	$1.42M	N/A
Change in value Past 12 months	6.7%	N/A
Sold Past 3 months	20	1
Median days on market Past 12 months	30	N/A
Average rent Past 12 months	$730	N/A
Change in rent Past 12 months	N/A	N/A

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