Why Croydon?
Located in the city of Maroondah, Croydon has the advantage of being situated at the north-eastern junction of the Eastern Freeway - EastLink corridor. There are two train lines, Ringwood & Croydon and a large number of bus routes linking the suburb to the City and other regions.
Residents:
Croydon has an estimated population of around 22,597 people, and 67.4% of households are family households. Compared with metropolitan Melbourne, The City of Maroondah has a slightly higher proportion of residents aged between 45 to 69 years and a lower proportion of residents aged between 20 to 35 years.
Community/Lifestyle:
The sustainable transport links continue to expand, with on road cycling paths and shared paths on major trails, including the Mullum Mullum Creek Trail, the EastLink Trail, Taralla Creek Trail and the Dandenong Creek Trail. The City of Maroondah has 42 bushland reserves that offer residents and visitors the enjoyment of wildflowers, wildlife, bush walks and wetlands.
Upgrades:
Croydon Central Shopping Centre is expected to begin its expansion subject to Council approval this year. Some of the key features of this upgrade consist of:
- Increase in retail space from 9,848 sq m to approximately 22,000 sq m;
- A new discount department store supported by quality fashion and accessories uses;
- A new fresh food and dining precinct with a northerly aspect and internal and external seating;
- Reworked and improved pedestrian crossing connection from Croydon Railway Station and bus terminal to the Centre;
- A combination of new underground car parking spaces whilst improving the convenient on‑grade parking at the Centre’s entrances;
- Separated service areas from customer parking to improve safety; and
- Architecturally designed townhouses along Toorak Avenue.
The Maroondah Council have also received funding from Federal Roads to Recovery for the rehabilitation of Lincoln Road between Dorset Road and Hull Road in Croydon. Lincoln Road is a key link road connecting Maroondah to the Shire of Yarra Ranges and has been identified for rehabilitation and upgrade.
Maroondah is well positioned to take advantage of Victoria’s future growth. Croydon is a key activity centre with concentrated retail opportunities continuing to strengthen its thriving town centre. The Bayswater North Employment Precinct is a major industrial and economic hub where many national and international firms have established their headquarters.
Economy:
Over 9,000 businesses operate within the City with small business comprising over 96 percent of these organisations. The largest industry employers are the manufacturing, retail trade and health care sectors. In total, businesses in Maroondah provide employment for 44,630 people and the municipality has a gross regional product (GRP) of $4.37 billion. Maroondah has two major retail centres at Croydon and Ringwood, with Ringwood being one of the largest in Melbourne.
Invest:
For investors, Croydon is a very attractive suburb for growth. The 10 year average annual growth on units in Croydon is 6.2%, which is nearly double that of units in Melbourne Metro, which has a growth of 3.2%. Investors act now to maximise stamp duty savings! From 1 July, stamp duty on these townhouses will increase significantly.
- Stamp Duty on a townhouse valued at $709,500 will rise from $12,050 to $37,050 from 1 July, 2017.
- Stamp Duty on a townhouse valued at $730,000 will rise from $12,590 to $38,870 from 1 July, 2017.
Do not wait!
If you would like to find out more about our development located in Croydon, such as floorplans and pricing, please enter your details in the link below.
* Stamp Duty figures shown are estimates only and are to be treated as a guideline. Please consult the State Revenue Office for exact Stamp Duty amounts required to be paid before and after 1 July 2017.