Bordered by farmland and The Redwood forest and close to some the region’s most beautiful lakes, Lynmore is one of Rotorua’s most popular suburbs.
Demand for property there is strong, reflective of the overall growth in property values that the region has enjoyed.
Lynmore enjoys a strong sense of community, and its residents are a mix of young families, drawn to the area by excellent schools and the proximity of outdoor pursuits, and older home-owners, who have watched the suburb develop and expand over the past 30 years.
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The area has benefited from increased business activity and seen a flurry of new commercial developments, including retail outlets, restaurants, bars and cafes. Much the development activity is centred along Te Ngae Road, which is home to Lynmore Junction shopping centre and the all-weather tourist attraction Motion Entertainment.
Property-wise, the suburb is set to gain a new retirement village and a new upmarket subdivision, Redwood Park, which is offering 45 consented lots on Tarawera Road.
With sections alone starting at around $325,000, the new properties, when finished, have potential to raise Lynmore’s median property values significantly. Those values have already risen 2.4 percent to $597,400 in the first quarter of 2018, and are up 8.6 percent year-on-year to March 31.
Anita Martelli, owner of Ray White Rotorua, says that the leap in values is lower than that of other neighbouring suburbs purely because Lynmore is so popular.
“There’s never enough stock to satisfy demand, so fewer sales are made.”
She’s pleased to see new developments in the area as they will open up more land and bring a greater supply of properties to the market.
“It means there will be a wider variety of houses on offer, from the tidy stucco 1940s homes to something much more modern.”
Martelli says that first-home buyers will struggle to find anything under $500,000 but that it’s worth making the effort to buy in Lynmore if possible.
“It’s a great suburb, with so much going for it. You really do have the best of both worlds with town on one side and the forest on the other.”
