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Taylors Hill is a delightful suburb that offers a harmonious blend of modern living and community spirit, making it a wonderful place to call home. Known for its spacious homes and community-focused lifestyle, Taylors Hill provides a peaceful and family-friendly atmosphere. The suburb is characterized by its contemporary housing developments and well-maintained parks, which are perfect for families looking to enjoy outdoor activities and a suburban lifestyle. The presence of local schools, shopping centers, and recreational facilities fosters a strong sense of belonging among residents, creating a tight-knit community.

For families, Taylors Hill is particularly appealing due to its excellent amenities and infrastructure. The suburb is well-served by multiple shopping centers and educational facilities, ensuring that residents have easy access to everything they need. The recent infrastructure improvements, such as the completion of Gourlay Road, have enhanced commuting options, making it convenient for those who work in the city or surrounding areas. The ongoing development in the area, including new residential estates and recreational amenities, continues to enhance the suburb's appeal and livability.

While Taylors Hill offers a fantastic lifestyle, there are some trade-offs to consider. The suburb's ongoing development may lead to increased property demand and potentially higher property values, which could impact affordability for some. Additionally, while the suburb provides a peaceful and suburban atmosphere, it may lack the vibrant nightlife and cultural attractions found in more urban areas. However, for those seeking a family-oriented community with modern conveniences and a tranquil environment, Taylors Hill is a charming choice.

Living in Taylors Hill can be considered moderately expensive, especially when compared to the broader Melbourne area. With a median house price of $838,500 and a median unit price of $430,000, the property market here is quite competitive. Renting is also on the higher side, with houses averaging $575 per week and units around $480 per week. These figures suggest that housing costs in Taylors Hill are significant, taking up a considerable portion of the household budget.

In terms of income, the average wage in Taylors Hill is approximately $85,000 per year, which is in line with Melbourne's average. However, when considering the median weekly household income of $2,374, which translates to an annual household income of about $123,000, it appears that many households in Taylors Hill earn above the average wage. This suggests that while the cost of living, particularly housing, is high, many residents have the financial capacity to manage these expenses.

Overall, Taylors Hill offers a relatively high cost of living, driven primarily by its housing market. If you are thinking of living in Taylors Hill, it's important to evaluate your financial situation to ensure it aligns with the costs associated with this suburb. Despite the expenses, the area provides a suburban lifestyle with access to amenities, making it an appealing choice for those who can afford it.

Taylors Hill presents an intriguing opportunity for property investors, especially those interested in the rental market. While the change in median house value over the last year has been modest at 0.5%, the suburb has seen a significant increase in unit values, with a 7.1% rise. This suggests a growing demand for more affordable housing options, which could be appealing for investors looking to tap into this trend.

Moreover, the rental market in Taylors Hill is showing strong growth, with house rents increasing by 10.6% and unit rents by an impressive 11.6% over the past year. This indicates a robust demand for rental properties, making it an attractive option for investors seeking reliable rental income. The suburb's appeal to renters could be attributed to its family-friendly environment and convenient amenities, which continue to draw in long-term tenants.

Overall, Taylors Hill offers a balanced investment opportunity. While the capital growth for houses has been relatively stable, the strong performance in the unit market and the rising rental yields make it a compelling choice for investors. With its steady demand and potential for rental income, Taylors Hill could be a solid addition to an investment portfolio.