Question 1

Is Tamworth a nice place to live?

Accepted Answer

Tamworth is a regional service city centred on a busy CBD beside the Peel River that mixes a strong country identity with regional services. It is well known for its long-running country music festival and a lively calendar of shows and community events. Residents range from farming families to people working in health, education and local business, and housing is a mix of federation-era cottages, contemporary suburban homes and rural-residential blocks on the outskirts. As a hub for the surrounding agricultural country it has sporting grounds, galleries, a regional airport and rail and road links.

The local population here is small, 189 people, with a median age of 49 and a typical household income of $697 a week. Dwellings are predominantly rented, with renters outnumbering owner-occupiers by almost two to one. Health infrastructure on the hospital campus has been expanded to include paediatrics, maternity and a cardiac catheterisation laboratory plus a helipad, and a new 37-bed mental health unit is under construction. There are also a number of transport and community projects planned or underway, including road upgrades, airport works and CBD revitalisation.

Question 2

Is it expensive to live in Tamworth?

Accepted Answer

Renting in Tamworth 2340 would take a large share of a typical local household's weekly income at the last Census. Against a Census household income of $697 a week, the average house rent of $450 a week is about 64.6% of that weekly income, and the average unit rent of $430 a week is about 61.7%.

On these figures, rent represents a large share of a local household income, so for people renting rather than buying those rent shares are the clearest affordability measure. 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 Tamworth a good place to invest?

Accepted Answer

If rental income is your main concern, Tamworth's rents rose over the past year: house rents increased 5.9% and unit rents increased 7.5%. Both are solid rises, and units were the stronger performer for rental income this year, growing faster than houses.

Whether that balance suits your investment goals depends on what you want from a property and your 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	N/A	N/A
Change in value Past 12 months	N/A	N/A
Sold Past 3 months	1	N/A
Median days on market Past 12 months	N/A	N/A
Average rent Past 12 months	$450	$430
Change in rent Past 12 months	5.9%	7.5%

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