Lyndhurst, narre warren
- Thread starter PRP
- Start date
Depends on what you want - rental yield - capital growth - development opportunity?
Lynbrook is a long way from anywhere and I'd be wary about a town house so far out.
Especially you can buy something no further out by the beach for no more, eg
http://www.realestate.com.au/property-house-vic-carrum-119096475
http://www.realestate.com.au/property-house-vic-carrum-118846447
Maybe even two of these http://www.realestate.com.au/property-house-vic-frankston+north-116970771
If Narre appeals, then 2 of these will leave change out of $500k http://www.realestate.com.au/property-unit-vic-narre+warren-119278935 and possibly get more land value than a single townhouse
Or spread things round a bit and have one on the waterfront, eg http://www.realestate.com.au/property-apartment-vic-bonbeach-116945351
Really nice points Spiderman.
Also this type of stock - in this (Narre warren road to Ernst Wanke Rd down to almost Josephine Ave) has some high yields for HOUSE stock compared to Narre Warren generally. Properties like this http://www.realestate.com.au/property-house-vic-narre+warren-118684539
Which although now just under offer was discounted from $375k to $338k since going on the market in Dec and looks to have a yield around 5% at $320pw.
Also this type of stock - in this (Narre warren road to Ernst Wanke Rd down to almost Josephine Ave) has some high yields for HOUSE stock compared to Narre Warren generally. Properties like this http://www.realestate.com.au/property-house-vic-narre+warren-118684539
Which although now just under offer was discounted from $375k to $338k since going on the market in Dec and looks to have a yield around 5% at $320pw.
Hi
Hi,
Both of the above the points are great!!!
Why a town house?
Hi,
Both of the above the points are great!!!
Why a town house?
i was thinking of going to lynhurst myself - closer to the station. thought house with land would have capital appreciation over 5-7 yrs? also i hear that rental market is strong?
somehow, townhouses/units around Glenroy, oakpark seem to be over priced. a two bedroom town house is priced at around $400000. not sure if that's the right price.
somehow, townhouses/units around Glenroy, oakpark seem to be over priced. a two bedroom town house is priced at around $400000. not sure if that's the right price.
What about Berwick? It was the place to be 10 years ago. Now all the undesirables live there and it looks more like a Cranbourne. House prices have stagnated at around 2% with 2008 being it's last boom, and there is no available land within 1.5km of the real Berwick. House prices are still 400k in the older area's (same as they were 5 years ago) :S
Will it keep stagnating (note livability is far worse than 10 years ago) or will it finally catchup with all the flat paddocks around it now also asking 400k for a home? Will the Clyde Rd level crossing removal raise prices? Or will it bring down the only wall currently keeping the Sri Lankans/Cranbourne down south out of real Berwick?
It's probably not an investment area but I'm surprised Berwick hasn't moved growth wise for so many years, surely all the cruddy suburbs around it aren't worth the same?
Will it keep stagnating (note livability is far worse than 10 years ago) or will it finally catchup with all the flat paddocks around it now also asking 400k for a home? Will the Clyde Rd level crossing removal raise prices? Or will it bring down the only wall currently keeping the Sri Lankans/Cranbourne down south out of real Berwick?
It's probably not an investment area but I'm surprised Berwick hasn't moved growth wise for so many years, surely all the cruddy suburbs around it aren't worth the same?
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Living in the area for 20 years I can tell you Lynbrook and Lyndhurst are McDonalds estates and not suburbs. I don't understand why they're continuously mentioned on here over established area's such as Berwick, Narre, Beaconsfield.
It's where all the undesirables of Hampton Park upgrade to, but more importantly it was all paddocks not so long ago. It's a McDonalds suburb of new homes built on an old tip (like parts of Cranbourne). Suburb wise it's identical to officer (therefore I'd say a worst investment than Cranbourne), the growth from new homes distorting land values, the land is endless, single rail train line, no roads, main st on fwy. It's just a worse version of officer basically!
It's where all the undesirables of Hampton Park upgrade to, but more importantly it was all paddocks not so long ago. It's a McDonalds suburb of new homes built on an old tip (like parts of Cranbourne). Suburb wise it's identical to officer (therefore I'd say a worst investment than Cranbourne), the growth from new homes distorting land values, the land is endless, single rail train line, no roads, main st on fwy. It's just a worse version of officer basically!
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We've lived in Lynbrook for 13 years. It's a fantastic place to live. We have a train station, 2 fantastic Primary Schools, a Children's Centre with Maternal Health and Kinder services, 2 Child Care centres, a brand spanking new Community Centre, a great set of shops, beautiful parklands, and a great sense of community spirit. But I wouldn't buy an IP here. We are 'land locked', so to speak because of the closure of through roads such as Evans Rd and Alymer Rd. The suburb is slowly becoming 'the new Hampton Park'.
If Evans Rd and Alymer Rd were to re-open it would be a different story. But I don't see that happening anytime soon. It would cost the government and council too much money to seal the road and upgrade the level crossing at Evans Rd. And to open Alymer Rd at least 5 houses would have to be purchased in order to change the (unopened) level crossing into an underpass. The level crossing was built at the time the government changed the rules to not open any more level crossings, only underpasses.
As others have said. You'd be wiser to use your money for a purchase closer to the CBD or Bayside suburbs.
If Evans Rd and Alymer Rd were to re-open it would be a different story. But I don't see that happening anytime soon. It would cost the government and council too much money to seal the road and upgrade the level crossing at Evans Rd. And to open Alymer Rd at least 5 houses would have to be purchased in order to change the (unopened) level crossing into an underpass. The level crossing was built at the time the government changed the rules to not open any more level crossings, only underpasses.
As others have said. You'd be wiser to use your money for a purchase closer to the CBD or Bayside suburbs.
