Question 1

Is Sunshine a nice place to live?

Accepted Answer

Sunshine is an inner-west Melbourne suburb centred on a busy railway station and a longstanding shopping precinct, which gives it a practical, working neighbourhood character. Its industrial and manufacturing roots appear in streets of post-war brick cottages and Californian bungalows alongside medium-density apartments nearer the station. The area is culturally diverse, with everyday shops, multicultural eateries and local services, and nearby creek corridors and parkland for walking. Good rail links and major roads make commuting straightforward.

About 9,445 people live in Sunshine, the median age is 35 and the median household income is $1,566 a week. Families are a large presence, with couple families with and without children together making up 75.8% of families, and homes are more often owner-occupied than rented. A major transport-led renewal under the Sunshine Station Masterplan is planned, and Sunshine Hospital, including the Joan Kirner Women’s and Children’s Hospital and upgrades such as a dementia-friendly garden, anchors local health services. Whether it suits you depends on how much you value transport access, everyday convenience and living in a community with many families.

Question 2

Is it expensive to live in Sunshine?

Accepted Answer

On the figures, buying in Sunshine 3020 sits well above local incomes as recorded at the last Census. A median house price of $805,000 is about 9.9 times a typical local household's annual income at the last Census, and the median unit price of $590,000 is about 7.2 times a typical local annual household income at the last Census.

Renting looks more moderate but still significant against those Census incomes. The average house rent of $545 a week would take roughly 35% of a typical local household's weekly income at the last Census, while the average unit rent of $445 a week would take about 28% of that weekly income. Which matters most depends on whether you plan to rent or buy and 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 Sunshine a good place to invest?

Accepted Answer

Values have been the clearest story in Sunshine over the past year: median house values rose 11.8% and median unit values rose 11.1%, both strong increases. Rents told a different tale — house rents climbed 9.0% (a solid rise), while unit rents edged up just 1.1% (a slight increase).

For someone weighing Sunshine up as an investment, the figures point to capital growth having been the stronger performer this year, while rental income grew more for houses than for units. Which of those outcomes matters to you will depend on whether your priority is rental income or price 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	$805K	$590K
Change in value Past 12 months	11.8%	11.1%
Sold Past 3 months	40	15
Median days on market Past 12 months	59	40
Average rent Past 12 months	$545	$445
Change in rent Past 12 months	9.0%	1.1%

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