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From: Michael Mudman


According to Residex, Lemon Tree Passage 2319 was one of the top performing suburbs for capital growth last year in NSW. Is anyone familiar with this area or have any property there?

I'm just curious as to what this place has going for it, and whether this sort of growth is set to continue there in the future. Any comments from the Newcastle people?
 
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From: Jeanette .


I don't know anything about Lemon Tree Passage, but about 9 mths ago Residex recommended Morisset as one of the next growth areas for various reasons (on expressway north of Sydney, lot of development going on, near Lake Macquarie etc). Anyway, I have relatives who bought there 3 years ago and their values have now more than doubled. The increases happened very quickly over the last year. So what I am saying is that if Lemon Tree Passage has already experienced the growth like Morisset, then perhaps Lemon Tree Passage might not be the area to invest in as what is going to happen has already happened and you would be buying at the top of the cycle.
 
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From: Jeremy Laws


In the last two - three years you would probably be better off looking for the places that have had NO capital growth at all. Why buy where things have boomed?
 
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From: Ayesha Todd


Hi Michael, the postcode 2319 includes Lemon Tree Passage, Mallabula and Tanilba Bay. We have recently sold in pc 2318 and started renting in Tanilba Bay. The area is a peninsular, tidal beaches all round and has a very relaxed atmosphere.
There has just been 197 new lots released in an area btw Mallabula and Tanilba Bay, and the area is bigger than many first think....even ourselves till we moved there. In the area there is a RSL, bowling Club, heated community pool, golf club, supermarket, butchers, bakery's hairdressers etc etc.
In my opinion i wish I had brought in the area a few years back, but as long as the council don't put to many restrictions on developments then yes it is a growing area.
My reason for not investing in the area is work related and wishing to invest over west and down south.
 
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