Question 1

Is Varsity Lakes a nice place to live?

Accepted Answer

Varsity Lakes is a lakeside residential suburb centred on a network of man-made lakes and canals, with Lake Orr and foreshore reserves giving the area a strong outdoor focus. Housing ranges from newer estate homes and canal-front properties to low-rise apartments, so families, students and professionals mix easily; families make up the core of the community. The suburb is home to 16,493 people and has a median age of 36.

Day-to-day life is shaped by good transport and local amenity: Varsity Lakes railway station sits at the southern end of the Gold Coast line, there is easy access to the M1, and a web of walking and cycle paths, parkland and neighbourhood shops supports a water-oriented lifestyle with the coast within easy reach. Bond University adjoins the suburb and Robina provides nearby retail and employment hubs and the nearest major public hospital with a refurbished 20-bed acute cognitive and geriatric ward. Whether it suits you depends on how much you value lakeside living close to study, work and everyday services.

Question 2

Is it expensive to live in Varsity Lakes?

Accepted Answer

Against local household income as recorded at the last Census, buying in Varsity Lakes sits well above what a typical local household earned then. A median house price of $1,200,000 is about 14.0 times a typical local annual household income at the last Census, and the median unit price of $950,000 is about 11.1 times that annual income.

Renting also takes a large share of that Census household income: house rent of $950 a week would be about 57.7% of a typical local household's weekly income at the last Census, and unit rent of $770 a week about 46.8%. On these figures both renting and buying are stretched against local incomes at the last Census, with buying particularly high relative to those incomes.

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 Varsity Lakes a good place to invest?

Accepted Answer

The standout figure is house values, which jumped 22.2% over the past 12 months. In Varsity Lakes unit values also rose, up 12.2%. Both value measures increased by more than rents did: house rents climbed 8.6% and unit rents rose 6.2%, with the gap between capital growth and rental growth especially large for houses.

For someone weighing Varsity Lakes as an investment, the value changes show the capital growth experienced over the year while the rent figures show how rental income moved. Houses were the stronger performer on both capital growth and rental growth compared with units this year. Whether that makes it the right investment for you depends on your 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.

	Houses	Units
Median price Past 3 months	$1.20M	$950K
Change in value Past 12 months	22.2%	12.2%
Sold Past 3 months	37	47
Median days on market Past 12 months	14	13
Average rent Past 12 months	$950	$770
Change in rent Past 12 months	8.6%	6.2%

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