Lilydale suburb profile
Lilydale is a picturesque suburb located at the gateway to the Yarra Valley, approximately 35km northeast of Melbourne's CBD. Known for its scenic beauty and relaxed lifestyle, Lilydale offers a blend of suburban convenience and rural charm. The area is characterized by its rolling hills, vineyards, and proximity to the Dandenong Ranges, making it a popular destination for nature enthusiasts and wine lovers. Lilydale boasts a strong community spirit, with a range of local amenities, schools, and recreational facilities. Its well-connected transport links, including a train station, provide easy access to Melbourne, enhancing its appeal as a desirable place to live.
Lilydale property market performance
Lilydale's property market has remained stable over the past 12 months, with no change in median house and unit values. The median house price has held steady at $900,000, while units have maintained a median price of $582,500. This stability reflects a balanced demand for both property types in the area.
Sales activity has been moderate, with 37 houses and 12 units sold over the last 12 months. Properties are moving quickly, with both houses and units having a median time on market of just 22 days, indicating strong buyer interest and swift transactions.
The rental market in Lilydale has seen significant growth, particularly for houses, with average rents increasing by 17.1% over the last 12 months. Units have also experienced a notable rise in rent, up by 8.3%, suggesting a robust demand for rental properties in the suburb.
Median price - houses$900KPast 3 months
Median price - units$583KPast 3 months
Change in value - houses-5.9%12 months
Change in value - units-0.4%12 months
Houses sold37Past 3 months
Units sold12Past 3 months
Median DOM - houses21.5Past 12 months
Median DOM - units21.5Past 12 months
Average rent - houses$615Past 12 months
Average rent - units$520Past 12 months
Change in rent - houses17.1%Past 12 months
Change in rent - units8.3%Past 12 months
Lilydale demographics
Lilydale, located in the outer eastern suburbs of Melbourne, is a charming area known for its blend of suburban comfort and access to natural beauty. With a population of 17,348, Lilydale offers a family-friendly environment, as evidenced by the 45% of couple families with children. The median age of 40 suggests a mature community, with many residents likely enjoying the balance of work and family life that the suburb provides.
The housing market in Lilydale is characterized by a high rate of home ownership, with 34.3% of properties owned outright and 46.1% owned with a mortgage. This indicates a stable community with a significant number of long-term residents. The relatively low rental rate of 19.6% suggests that Lilydale is less transient than some inner-city suburbs, appealing to those looking for a more permanent place to settle down.
Lilydale's median total household income of $1,764 per week reflects a comfortable standard of living, supporting a lifestyle that balances suburban tranquility with the convenience of nearby amenities. The suburb's proximity to the Yarra Valley and Dandenong Ranges offers residents easy access to outdoor activities and scenic landscapes, making it an attractive location for those who appreciate nature and a relaxed pace of life.
Lilydale infrastructure, key developments and investment opportunities
Lilydale is experiencing significant developments that could impact its property market. The recent completion of the level crossing removal project at Maroondah Highway has improved traffic flow and pedestrian safety, potentially increasing property values in the surrounding area. The rebuilt Lilydale station, featuring a new bus interchange, has enhanced public transport accessibility, making the suburb more attractive to commuters.
The ongoing expansion of the Lilydale Marketplace shopping center is set to bring new retail and dining options, potentially boosting local property demand. Additionally, the nearby Yarra Valley Business Park development aims to create more local job opportunities, which could drive housing demand in Lilydale. These improvements, combined with Lilydale's proximity to the Yarra Valley and Dandenong Ranges, continue to enhance the suburb's appeal for both residents and investors.
Lilydale rental market trends
The rental market in Lilydale has experienced significant growth, with house rents increasing by 17.1% over the past year to $615 per week, while unit rents have risen 8.3% to $520 per week. This upward trend reflects strong demand and the suburb's appeal, making Lilydale an attractive option for both renters and investors seeking promising returns in a vibrant community.
Suburbs near Lilydale
Some popular suburbs near Lilydale include: