Question 1

Is Warracknabeal a nice place to live?

Accepted Answer

Warracknabeal is a regional service town in the Wimmera, its compact main street of older brick and timber buildings set among grain silos, paddocks and broad cropping country. The community of 2,359 people has a median age of 50 and includes farming families, multigenerational locals and people seeking a quieter country pace. Housing ranges from weatherboard cottages and interwar brick homes to newer suburban houses and larger rural properties, and most homes are owner-occupied (79.7%). The typical household income is $1,079 a week, or about $56,100 a year.

Daily life centres on seasonal agriculture, community sporting clubs and essential services such as schools and local medical care, with regional roads linking neighbouring centres. The town has seen recent civic investment in education, health and emergency services and council planning for coordinated upgrades to sport, recreation and affordable housing, so everyday facilities are being strengthened. Whether Warracknabeal suits you will depend on whether a compact country town centred on agriculture and local services fits what you want.

Question 2

Is it expensive to live in Warracknabeal?

Accepted Answer

On the figures available for Warracknabeal, a house rent of $390 a week would take about 36.1% of a typical local household's weekly income as recorded at the most recent Census (weekly income $1,079). The median house price of $300,000 is about 5.3 times a typical local annual household income at the last Census.

Put simply, renting here would take a sizeable share of a typical local household's income at the last Census, while buying sits somewhat above what households in the area were earning then. Which matter feels more stretched 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 Warracknabeal a good place to invest?

Accepted Answer

The clearest movement in Warracknabeal over the past 12 months is a strong rise in house prices, with median house value up 25.0%. House rents also climbed, increasing 16.4% over the year, so capital growth outpaced rental income for houses during this period. If rental income is your main priority, the rent change is the figure that matters; if you’re focused on capital growth, the large uplift in house values is the key number to note.

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	$300K	N/A
Change in value Past 12 months	25.0%	N/A
Sold Past 3 months	11	1
Median days on market Past 12 months	48	N/A
Average rent Past 12 months	$390	N/A
Change in rent Past 12 months	16.4%	N/A

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