It might still have the reputation of an affordable area, but Wyndham’s properties are commanding their fair share of million-dollar sales.
This year to date, 26 homes throughout the city have sold for more than $1 million – 11 in Point Cook, six in Hoppers Crossing, seven in Werribee, and one each in Truganina and Werribee South.
The piece de resistance, a four-bedroom, double-storey house, on a 900 square-metre- block along Panorama Way in the Sanctuary Lakes estate of Point Cook, sold privately in August for $1.8 million.
It’s the second consecutive year that a Panorama Way property has held the status of Wyndham’s top street for a residential sale.
Last year, a Panorama Way four-bedroom split-level property with its own indoor elevator and in-ground swimming pool sold for a record $2.1 million, and it remains the most expensive residential property ever sold in Point Cook.
Fadi Saad, of Sanctuary Lakes Real Estate, who handled both sales, said Wyndham’s high- end property market was still performing strongly.
“There has been consistent demand for quality properties in quality locations. There’s a positive outlook for waterfront, prestige properties in our market,” Mr Saad said.
“There’s talk in the marketplace that the real estate market’s going to soften next year, but everything I’m seeing shows it’s going to continue as it is at the moment.
“Wyndham’s been steady for a number of years, and with land prices and the way they’re going, established homes are standing out to be very good value.”
Meanwhile, a five-bedroom property along Spinnaker Rise in Sanctuary Lakes could take out the crown at the eleventh hour if it reaches its asking price of $1.9 million.
On the flip side, a three-bedroom property in Birchwood Boulevard, Hoppers Crossing, sold for $240,000 to be the area’s most affordable for 2016.
Real Estate Institute of Victoria spokeswoman Jasmine Waters said 2016 had been a solid year for the Melbourne property market with ongoing buyer demand, record low interest rates and high clearance rates for vendors.
