Lyndhurst Suburb - Melbourne

Whilst most of the surrounding suburbs to Lyndhurst have undergone a large amount of residential development during recent years, Lyndhurst remains relatively underdeveloped.
Lyndhurst is a very fast and upcoming suburb and is becoming the suburb of choice for professionals wanting to move out of the city. Within Lyndhurst there is a limited supply of vacant residential lots for sale, particularly when compared with the surrounding suburbs, this was recently highlighted when people camped out overnight to purchase land on the new Marriot Waters Development.
Lyndhurst is made up of new estates and some stunning architectural designed display villages.  These include the Fig Tree Estate, The Rise, Mellington, The Avenue and the new development of Marriot Waters. 

Surrounding Amenities
Lyndhurst is well serviced by surrounding amenity including numerous retail facilities and shopping centres located in adjoining suburbs. Some of these major retail facilities include Amberley Park Shopping Centre – Narre Warren South, Casey Central Shopping Centre – Narre Warren South, Fountain Gate Shopping Centre  – Narre Warren and the closest being the recently opened Lynbrook Village – Lynbrook.

Within the City of Casey there are also eight hospitals (both public and private) located in the suburbs of: Berwick, Dandenong, Clayton, Bentleigh, Mt Waverley, Noble Park and Dandenong North.

Lyndhurst and surrounds offers a diverse range of first-class education choices, including a childcare centre and pre-school, Lynbrook Primary School, Lyndhurst Secondary College and Narre Warren South College, offering primary to Year 12 education. Within only 10km lies a broader range of educational options: St Leonard’s College, St Margaret’s School, St Peters Catholic College, Haileybury College and the Berwick campus of Monash University.There is also a plethora of childcare facilities within the vicinity of Lyndhurst.

The Lyndhurst area is also well serviced with recreational facilities including a Golf Club, Tenpin bowling, a BMX Track, a Basketball Club, an Indoor Sports Centre, a Soccer Club, an AFL Club, a Cricket Club and a Gymnastics Club.  There are plenty of lakes and reserves as well as children's outdoor areas and BBQ facilities.

Transport Infrastructure
The Lyndhurst area is well serviced by transport infrastructure. An existing railway station is located in close proximity at Merinda Park and a new station is set to be developed at Lynbrook. The area is also well serviced by a comprehensive bus service. Being located only moments away from the Monash Freeway ensures that the Melbourne CBD is easily accessible. The new Eastlink opening will further reduce travel times for residents of the Lyndhurst area.

Plans are currently underway to open a new train station in Lynbrook between 2011 – 2016.
The new station will feature:
• a bus interchange and taxi rank
• long-term car parking on both sides of the railway line plus short-term (kiss and ride) parking. Initially, approximately 250 spaces will be available with scope to expand the car parking as demand increases
• two 160 metre long platforms on either side of the railway lines and including tactile tiles and security fencing along the length of the platforms
• passenger shelters and seating
• ticket machines
• timetable and passenger information displays
• closed circuit camera surveillance and emergency telephones
• covered walkways, ramps and stairs
• bicycle facilities.
Pedestrian and bicycle access to the platforms will be provided via the existing underpass.

Until then the nearest train station is at Merinda Park 2km away.

Demographic Trends
As at the 2006 Census the suburb of Lyndhurst had a median age of 30 years of age. This places the median age of Lyndhurst well below that of the Greater Melbourne Area and demonstrates that this is an appealing, emerging growth area that appeals to younger families.
The median household income within Lyndhurst was $1,319 per week. This indicates that disposable income may be moderately high in the area when compared to the Greater Melbourne median household income which was $1,079 per week over the same period.
At the time of the last Census the average household size within Lyndhurst was 2.9 persons per household which was slightly greater than the 2.6 persons per household which was recorded throughout Greater Melbourne. This would be due to the fact that traditional residential style development like houses are predominate in the area as opposed to units and townhouses.
The suburb of Lyndhurst contained 141 dwellings at the time of the 2006 Census and nearly all of these dwellings were houses. In relation to dwelling tenure houses which were being purchased made up the greatest proportion of dwellings (65%) followed by those being rented (24%) and the remaining 11% being fully owned. Throughout the Lyndhurst suburb the most prevalent household type is couple families with young children living at home.

Population
As at the 2006 Census the population of the Casey of which Lyndhurst is part, was 213,556. This result represents a population growth rate since 2001 of a very strong 4% annually or 7,496 persons annually. This result reflects substantial population growth during the last five years.
The population of the suburb of Lyndhurst was 408 persons as at the 2006 Census. This population figure has increased by an impressive 14% per annum since the 2001 Census. This strong population growth, whilst being from a low base number, helps to demonstrate that Lyndhurst represents a growth market.
Population projections undertaken by the Victorian Government during 2001 suggested that by 2016 the population of the Casey City – Cranbourne SLA would be 97,134 persons. This will reflect average annual population growth over the 10 year period from 2006 of 3.7%.

Property Market
Price growth in the Lyndhurst housing market has been strong over the last five years. Between 2002 and 2007 the Lyndhurst housing market has achieved average annual price growth of 5% with the median price increasing from $254,300 during 2002 to the current 2007 median price of $318,000. This statistic indicates that the suburb of Lyndhurst is significantly more affordable than most areas of Greater Melbourne, as at the end of the September 2007 quarter the Real Estate Institute of Australia (REIA) recorded that the median house price for Greater Melbourne was $431,000. Sales activity in the Lyndhurst housing market has increased significantly over recent years with only four sales being recorded during 2002, with this increasing to 28 houses being sold during 2007.
During 2007, 47 vacant residential land sales have been recorded in Lyndhurst for a median price of $154,000. The median price for a vacant block of residential land suburb profile 2008 SUBURB PROFILE has increased by 8% annually between 2002 and 2007 which represents a total value increase of $50,000. It is anticipated that the limited supply of vacant residential land in the suburb will have a positive impact on this market within the next two years.

Rental Market
The Victorian Department of Housing indicates that the median weekly rents for property located in the Casey Council, as at the June 2007 were as follows: a two bedroom unit achieved $190 weekly rent, a two bedroom house achieved $193 weekly rent and a three bedroom house achieved $230 weekly rent.
Over the last year rental growth in this market has been strong with two bedroom units experiencing growth of 8.6%, two bedroom houses experiencing growth of 6.9% and three bedroom houses experiencing growth of 9.5%. The Real Estate Institute of Victoria (REIV) reports that the residential vacancy rates in Melbourne were consistently low during 2007. At its lowest point the rental vacancy rate was 1.2% and at it highest 1.6%. It has now been two years since Melbourne’s vacancy rate was under 2%. This increase in rental income and low vacancy rates represent strong market fundamentals and as such investors are being encouraged back into the market.
A growth area like Lyndhurst has particular appeal for investors due to the low price points for property and its proximity and easy access to Melbourne.



Property

Below is an example of the type of property you can get for your money in Lyndhurst: Price: $352,000 or approx £170k   You’re in something different the moment you walk into the Stanford. This home features 3 bedrooms plus study including large master bedroom, double garage, separate dining and family rooms and also a spacious rumpus/home theatre room. Central to the home is the large angled kitchen bench which tastefully links the dining and family areas. includes: -Fixed price site cost & connections -Ceramic floor tiling to wet areas, dining entry & kitchen -Quality Harmony Range carpets to remainder -Concrete driveway & path to front door

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