Lyndhurst for IP

[macdub]

hello fellow members..
just wanted to know people's thoughts on buying OTP IP in Lyndhurst..I know the area well and it has performed well in terms of capital growth in last 4-5 yrs..I am in particular talking about this

http://www.realestate.com.au/property-house-vic-lyndhurst-118537019

the location is great as it will be walking to newly built Lynbrook train station, has western port hwy (Monash fwy) and south gippy fwy at the doorstep, plus new marriott waters shopping centres just few mins drive away..got new school too..

what do you think of this as long term hold?

thanks in advance.

 

[JamesP]

I'm looking in these areas too I'd strongly advise against Lyndhurst particularly OTP new homes on small blocks, an older home is depreciated, more unique and the block is generally bigger/subdividable and in a more favorable location.

I live in Berwick and would rather buy here or narre warren over the other suburbs. Narre South is a similiar suburb to Lyndhurst and has no land left in comparison. I've been looking at Doveton and was surprised to see 33% of homes there are rented (if interest rates rise house prices may crash here more than other areas), it also looks to be in a pretty good spot and with no land available, there are plans to reopen the GM train station one day and some well maintained ex commission homes. The area looks pretty undervalued imo

 

[macdub]

not much land left in Lyndhurst..two new developments are the Golden Elm and the one I am talking about..The golden elm has tiny blocks, under 200sqm while this one has bit bigger, more than 300SQM lots..don't know much about Doveton but will check it out..