McMansions and massive blocks are commanding million-dollar prices in Wyndham.
Real Estate Institute of Victoria figures reveal that 11 properties sold for more than a million dollars in 2014, with a four-bedroom, three-bathroom house on Greg Norman Drive in Point Cook becoming Wyndham’s most expensive property of the year.
The property, in the gated Pinnacle section of the Sanctuary Lakes estate, fetched $1.45 million in December – nearly triple Point Cook’s $513,500 median house price at that time.
Seven million-dollar properties sold at Point Cook in 2014, followed by three at Hoppers Crossing, and one three-bedroom property at Tarneit.
On the flipside, a house in a Werribee retirement village sold for $199,000 last year, making it the most affordable property in the area, followed closely by a Feathertop Drive property at Wyndham Vale that sold for $200,000.
Momentum has continued this year with at least two Wyndham properties hitting the million-dollar mark.
Last month, a six-bedroom, four-bathroom house on a two-acre block on Bindowan Drive, Hoppers Crossing, was sold privately for $1.32 million.
Ray White Hoppers Crossing sales professional Ron Janish said the vendors had tried to sell the property through two other agents over the past three years.
“We took it over on a 90-day authority and it was sold within 60 days,” Mr Janish said.
He said Ray White was also marketing a corner block on Russell Street, Werribee, which has a $1.2 million price tag.
Another property to surpass one million this year is a five-bedroom, two-bathroom home on an acre on Sayers Road.
Greg Hocking Lawson Partners senior sales consultant Darren Dodd said this property had sold after being on the market for just seven weeks.
Mr Dodd said property owners living on large blocks had the potential to make lots of money by selling due to the potential of the land for commercial and subdivision purposes.
“Certainly all the acre properties along Sayers Road should break a million these days,” he said.
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