Question 1

Is Lakewood a nice place to live?

Accepted Answer

Lakewood is a delightful suburb that offers a peaceful and charming lifestyle, making it a wonderful place to live. Known for its serene environment and natural beauty, Lakewood is nestled near the shores of Queens Lake, providing residents with breathtaking water views and a plethora of outdoor recreational activities. The suburb exudes a tranquil vibe, perfect for those who appreciate a slower pace of life. Families will find Lakewood particularly appealing due to its safe, community-oriented atmosphere and the abundance of green spaces for children to explore and play.

While Lakewood offers a relaxed lifestyle, it does come with a few trade-offs. The suburb lacks the hustle and bustle of a major city, which means fewer nightlife and entertainment options. However, its proximity to Laurieton and Port Macquarie ensures that essential amenities, shopping, and dining options are within easy reach. The community is tight-knit, with many long-term residents, which fosters a strong sense of belonging and security. For families, the broader Camden Haven schooling network provides access to quality education, although it requires a short commute to neighboring suburbs.

Overall, Lakewood is a charming place to call home, especially for families and retirees seeking tranquility and natural beauty. While it may not offer the excitement of urban living, its serene environment, friendly community, and access to essential amenities make it a lovely choice for those looking to escape the fast-paced city life. The suburb's picturesque setting and peaceful lifestyle are perfect for those who value a close-knit community and the great outdoors.

Question 2

Is it expensive to live in Lakewood?

Accepted Answer

Living in Lakewood can be challenging when it comes to affordability, particularly when considering the local income levels. The median house price in Lakewood is $769,500, which is significant given the average wage in the area. With an annual average wage of approximately $26,000, many residents might find it difficult to afford purchasing a home without substantial financial planning or assistance.

Comparing this to the average household income, which is $1,036 per week, or roughly $53,872 annually, it becomes evident that a large portion of household earnings would be required to manage mortgage repayments. This could make home ownership a stretch for many families, especially when considering other living expenses.

While Lakewood may offer a peaceful lifestyle with its scenic surroundings, the cost of housing relative to local wages suggests that it could be considered expensive for those earning the average income in the area. If you are thinking of living in Lakewood, it's important to carefully evaluate your financial situation and consider whether the costs align with your income and lifestyle expectations.

Question 3

Is Lakewood a good place to invest?

Accepted Answer

Lakewood presents a unique investment opportunity, particularly for those seeking stability in their property portfolio. Over the past year, the suburb has experienced no change in median house and unit values, as well as rental prices. While this might initially seem unremarkable, it actually highlights Lakewood's resilience in a fluctuating market. This stability can be appealing for investors who prefer a low-risk environment where property values and rental income remain consistent.

Lakewood's charm lies in its steady nature, making it a reliable choice for those who value predictability over rapid growth. The suburb's tranquil setting and community-focused lifestyle attract long-term residents, ensuring a steady demand for rental properties. While it may not offer the excitement of fast-paced capital gains, Lakewood's consistent performance makes it a dependable option for investors looking for a secure and stable investment.

	Houses	Units
Median price Past 3 months	N/A	N/A
Change in value Past 12 months	1.4%	N/A
Sold Past 3 months	6	N/A
Median days on market Past 12 months	33	N/A
Average rent Past 12 months	N/A	N/A
Change in rent Past 12 months	N/A	N/A

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