Question 1

Is Tumut a nice place to live?

Accepted Answer

Tumut is a country town in the Riverina at the foothills of the Snowy Mountains, set on the Tumut River. It pairs a compact historic main street and tree-lined residential precincts with an agricultural hinterland of orchards, grazing and forestry. Housing ranges from weatherboard and federation-era cottages to modern suburban homes and rural-residential blocks, and everyday shops, cafes and community facilities sit alongside river parks, walking trails and easy access to Blowering Dam and the Snowy Mountains for outdoor recreation.

About 6,613 people call Tumut home, with a median age of 42 and a median household income of $1,242 a week. The community is weighted towards couple families and home ownership, alongside farmers, tradespeople and people working in regional services and tourism. Local investment includes a major upgrade of the aerodrome, a hospital redevelopment now providing on-site CT, ultrasound and renal dialysis services, a new ambulance station and a multipurpose evacuation centre under construction. Whether Tumut suits you will come down to how much you value a regional, established town with nearby outdoor recreation and local services.

Question 2

Is it expensive to live in Tumut?

Accepted Answer

Buying a house in Tumut sits well above what a typical local household earned at the last Census. The median house price of $530,000 is about 8.2 times a typical local household's annual income at the last Census. Renting is less stretched: a house rent of $470 a week would take roughly 37.8% of a typical local household's weekly income at the last Census ($1,242 a week), a sizeable share, while a unit at $350 a week would be about 28.2% of that weekly income, a moderate share. 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 Tumut a good place to invest?

Accepted Answer

Over the past 12 months in Tumut rents rose solidly while property values moved the other way, with a larger fall for units than for houses. Median house values fell marginally, down 0.4%, while median unit values fell 9.1%. Meanwhile house rents rose 9.3% and unit rents rose 9.4%, so rental income has increased notably over the year; for houses that rent growth outpaced the small fall in price, while units saw rents rise alongside a more pronounced drop in unit values. Whether that mix suits your investment goals depends on your objectives 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.

	Houses	Units
Median price Past 3 months	$530K	N/A
Change in value Past 12 months	-0.4%	-9.1%
Sold Past 3 months	23	4
Median days on market Past 12 months	110	110
Average rent Past 12 months	$470	$350
Change in rent Past 12 months	9.3%	9.4%

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