Is this Wyndham’s own millionaires’ row?
Three properties along Greg Norman Drive in Sanctuary Lakes have changed hands this year for $2 million or more, including one that recently broke the suburb price record for an undisclosed sum.
The record-breaking sale surpassed the price of a four-bedroom, split-level house along Panorama Way, which sold in March for $2.33 million to become the most expensive residential real estate in Point Cook to that point.
Sanctuary Lakes Real Estate director Fadi Saad said despite the hefty price tag, the properties were still incredible value for money.
“This part of Greg Norman Drive is part of The Pinnacle [gated community] and all the properties within that area are on large blocks – we’re talking half-acre blocks,” Mr Saad said.
“Sanctuary Lakes is able to offer property at a value point that other suburbs just cannot offer.
“We’re talking about these being record prices, but when you try to compare something from, say, Williamstown, you are literally having to pay more than double to get half of what you can buy in Sanctuary Lakes. You can’t get half an acre with a swimming pool, tennis court, view of the golf course and lake for even $5 million there.”
Real Estate Institute of Victoria chief executive Gil King said 26 houses have sold for more than $1 million in Wyndham this year.
Notable sales include a 5622-square metre block in Blake Court, Truganina, that sold at auction for $2.715 million in May; 16 acres of farming land with a four-bedroom property along O’Connors Road in Werribee South that sold for $2.45 million; and a four-bedroom Kingston Boulevard property in Hoppers Crossing that sold in August for $1.415 million.
Mr King said selling privately remained the most popular method for most vendors, with 83 per cent of Wyndham properties to sell this year sold this way.