Question 1

Is Toowoon Bay a nice place to live?

Accepted Answer

Toowoon Bay sits around its sandy beach and has a relaxed, village-like character. Low-rise streets mix long-term family homes with holiday units and a compact cluster of shops close to the sand. Coastal walks and easy access to the lake and estuary at The Entrance mean boating and birdlife are close at hand, while larger Central Coast centres are within easy reach for schools, services and transport. The suburb suits people after a quieter seaside lifestyle without high-rise development.

It is a very small community of 543 people with a median age of 58 and households that are mostly owner-occupied, about two in three. Families are chiefly couples without children. There are several public projects planned or under way, including a surf life saving club upgrade, works at the holiday park, foreshore improvements for beach access and signage, and design work on a pedestrian crossing and an intersection upgrade.

Question 2

Is it expensive to live in Toowoon Bay?

Accepted Answer

Rent costs in Toowoon Bay sit high against local incomes at the last Census. A house renting for $883 a week would take about 75.6% of a typical local household's weekly income at the last Census, while a unit at $513 a week would take about 43.9% of that income. For people looking to rent, those shares are large, and whether they feel affordable 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.

Question 3

Is Toowoon Bay a good place to invest?

Accepted Answer

Over the past 12 months Toowoon Bay recorded a large jump in median house values, up 30.6%. House rents rose strongly as well, increasing 21.8% over the year, and unit rents also rose, up 10.3%.

These numbers point to capital growth on the house side while rental income has risen for both houses and units. House price growth outpaced the rent growth for houses this year, and house rents increased by more than unit rents. Which of those outcomes matters most depends on whether you are targeting capital growth or rental income and on your own 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	30.6%	N/A
Sold Past 3 months	2	N/A
Median days on market Past 12 months	N/A	N/A
Average rent Past 12 months	$883	$513
Change in rent Past 12 months	21.8%	10.3%

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