Get a property report and suburb profile for any property in Taylors Lakes

Taylors Lakes is a north-west Melbourne suburb centred on lakes, wetlands and a network of reserve and walking paths, giving the area a leafy feel. The suburb is anchored by the Watergardens shopping and entertainment precinct beside the Sunbury line train station and regular bus routes, so commuting is straightforward. Housing is largely established brick family homes with pockets of newer townhouses near the shops, and local parks, sports fields and playgrounds plus lakeside paths suit active households.

The community is weighted towards families, with couple families with children the largest group, and most homes are owner-occupied while renters make up about 10.1%. Taylors Lakes has a population of 15,174, a median age of 45 and a typical household weekly income of $2,164. Recent local projects include a new 24-hour ambulance station, upgrades to Lionheart Reserve tennis facilities and an ongoing shared user path program. Whether it suits you will come down to how much you value suburban space, nearby retail and good transport links.

A house renting for $580 a week would take about 26.8% of a typical Taylors Lakes household's weekly income at the last Census, which is a moderate share of income. The local weekly household income recorded at the last Census was $2,164.

Buying looks more stretched. The median house price of $1,000,000 is about 8.9 times a typical local annual household income at the last Census (annual income $112,528), which sits well above local incomes, so on these figures renting is the more manageable option for many people. Whether that feels expensive will depend 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.

House prices in Taylors Lakes rose 7.4% over the past 12 months, a solid increase in median house value. Over the same period, house rents fell 1.7%, a slight decline in the rental income houses are earning. For someone weighing Taylors Lakes up as an investment, the figures show the year favoured capital growth on the house side while rental income for houses eased; which outcome matters more will depend on your own goals and 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.