Real Estate

The Yarra Ranges suburbs that should be on buyers’ lists

Written by The ReReport
As seen in the Source link, written by on 2019-01-09 08:08:46

Kinley by Intrapac

There’s a new suburb-sized estate in town and it has got buyers spoiled for choice.

Chirnside Park and Lilydale have been tipped as real estate hot spots as new developments put them on the map with buyers.

Mooroolbark and Kilsyth are also suburbs to watch in 2019, local agents say.

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Barry Plant Lilydale director Matthew Jinks expects the market to float along smoothly rather than experience rapid growth or a dramatic dip.

“The market will tick along nicely in 2019, there won’t be any growth, just a nice balanced market,” Mr Jinks said.

Kinley by Intrapac

An artist’s impression of Kinley, a new estate offering buyers a chance to build their dream home.

Kinley by Intrapac

The development is on the site of Lilydale’s old quarry pit.

Melbourne’s new suburb-sized outer eastern estate Kinley, which will be located on the site of Lilydale’s old quarry pit, is one project amplifying buyer choice.

The development’s masterplan includes a village centre, cafes, retail stores, a school, eight parks, two wetlands and a proposed train station, which is yet to be approved by the government.

The project is expected to take 12 to 15 years to complete, with stage one lots already on the market.

“The Kinley estate (is) a neighbourhood that reflects the essence of the area’s long-established character and amenity, and also looks toward the future in its housing and urban design,” Mr Jinks said.

“And with continued development in the Cloverlea estate, the old Chirnside Park Golf Course, the Yarra Ranges has lots to offer for buyers in 2019.”

Cloverlea estate in Chirnside Park is another exciting development for the area.

Fletchers Mooroolbark director Daniel Bolton said enhancement to Chirnside Park amenities would continue to see it go from strength to strength.

“Chirnside Park Shopping Centre will be undergoing a development shortly, which will be great for the residents,” Mr Bolton said.

“Now is a perfect opportunity to buy.”

Chirnside Park’s median house price experienced a 3.9 per cent jump in the 12 months to September, contributing to the astounding 66.7 per cent growth the suburb has notched in the past five years, CoreLogic data shows.

The median house price sits at $749,975, while unit prices are at a $540,000 median.

Yarra Ranges’ median house price was up 7.1 per cent in the year, a 64.5 per cent increase in five years. The median figure sits at $685,227.

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