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Lilydale is a delightful suburb that offers a harmonious blend of suburban living and natural beauty, making it a wonderful place to call home. Nestled at the gateway to the Yarra Valley, it provides residents with a serene environment characterized by rolling hills and lush vineyards. The suburb's relaxed lifestyle is complemented by a strong sense of community, making it particularly appealing to families. With a variety of local amenities, schools, and recreational facilities, Lilydale ensures that families have everything they need within reach.

The suburb is known for its peaceful vibe, yet it doesn't compromise on convenience. The presence of a train station and well-connected transport links make commuting to Melbourne straightforward, which is a significant advantage for those working in the city. Safety is generally not a major concern in Lilydale, contributing to its reputation as a family-friendly area. While it may not offer the bustling nightlife of inner-city suburbs, Lilydale more than compensates with its access to outdoor activities and scenic landscapes, perfect for weekend adventures or leisurely strolls.

However, living in Lilydale does come with some trade-offs. The suburb's distance from Melbourne's CBD means that those seeking a vibrant urban lifestyle might find it a bit too quiet. Additionally, while the ongoing developments in the area are promising, they may bring some temporary disruptions. Despite these minor drawbacks, Lilydale remains an attractive option for those who value a tranquil lifestyle with the added benefit of being close to nature. Families, in particular, will appreciate the suburb's community spirit and the opportunities it offers for a balanced and fulfilling life.

Lilydale, located in the outer eastern suburbs of Melbourne, offers a blend of suburban charm and accessibility to nature, making it an appealing place to live. When it comes to affordability, Lilydale presents a mixed picture. The median house price is around $873,000, which is relatively moderate compared to Melbourne's inner suburbs but still a significant investment. Units are somewhat more affordable, with a median price of $626,075. Renting in Lilydale is fairly reasonable, with houses averaging $600 per week and units around $500 per week.

Comparing these figures to the average annual salary in Lilydale, which is approximately $91,000, and the median total household income weekly of $1,764, the cost of living in terms of housing can be seen as manageable for many residents. However, it's important to note that housing expenses will still take up a substantial portion of the average income. This balance suggests that while Lilydale is not the cheapest suburb to live in, it offers a reasonable cost of living, particularly for those who value the lifestyle benefits of being close to nature and having a bit more space than inner-city living allows.

Lilydale presents an interesting investment opportunity, especially for those looking at rental income potential. While the median house value has remained stable over the past year, the rental market tells a different story. House rents have surged by 15.4%, indicating strong demand from tenants, which could translate into a reliable income stream for property investors. This trend suggests that while capital growth for houses has been flat, the rental yield is becoming increasingly attractive.

On the other hand, units in Lilydale have experienced a 5.1% increase in median value over the last 12 months. This growth, coupled with a 7.5% rise in unit rents, highlights a robust demand for more affordable housing options. The combination of rising unit values and rental demand makes units a particularly appealing choice for investors seeking both capital appreciation and rental returns.

Overall, Lilydale offers a balanced investment landscape. While house prices have not increased, the strong rental market provides a compelling case for investment, particularly for those prioritizing rental income. Units, with their recent value growth and rental demand, offer a promising avenue for investors looking to capitalize on both market trends. Lilydale's steady rental market and unit value growth make it a suburb worth considering for property investment.