Question 1

Is Toogoom a nice place to live?

Accepted Answer

Toogoom is a small seaside community on the Great Sandy Strait with a village feel, shoreline tracks and grassy reserves, and fishing, boating and birdwatching.

The community is older, with many households owning their homes outright and incomes below the Queensland median, and 2,596 people live in Toogoom. Local roads link the suburb with Hervey Bay for shops and services, and a recreational boating study recommended upgrades to the state-owned boat ramp on Beelbi Creek, including an extra ramp lane, a floating walkway and additional car-trailer parking.

Question 2

Is it expensive to live in Toogoom?

Accepted Answer

A typical local household earned about $1,081 a week at the most recent Census. At a median house price of $907,500, buying a house in Toogoom works out to about 16.1 times a typical local annual household income, which sits well above local incomes.

House rents run to about $650 a week, which would take roughly 60% of a typical local household's weekly income, a large share. On these figures both buying and renting would absorb a substantial portion of the local household income, and which measure matters most depends on whether you plan to rent or buy.

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 Toogoom a good place to invest?

Accepted Answer

Over the past 12 months, house values in Toogoom rose a strong 16.3% while house rents climbed 10.2%. On houses, that means capital growth outpaced rental income.

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	$908K	N/A
Change in value Past 12 months	16.3%	N/A
Sold Past 3 months	10	N/A
Median days on market Past 12 months	35	N/A
Average rent Past 12 months	$650	N/A
Change in rent Past 12 months	10.2%	N/A

	Suburb	QLD
Median age years	52	38
Median household income weekly	$1,081	$1,675
Couples with children share of families	27.9%	41.2%
Couples without children share of families	57.0%	40.3%
One-parent families share of families	14.4%	16.8%
Homes owned outright share of homes	47.9%	30.1%
Homes with a mortgage share of homes	26.5%	35.6%
Homes rented share of homes	25.6%	34.3%

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