Sanctuary Lakes home owners could enjoy a boost in their property prices if their push to turn their estate into a suburb is realised.
Sanctuary Lakes Real Estate director Fadi Saad believes that if Sanctuary Lakes residents win their current bid to turn the Point Cook estate into a suburb in its own right, it could lift property prices.
“I think the median price will increase once that happens because we can register our results as Sanctuary Lakes and not have them skewed with the rest of the 3030 postcode,” Mr Saad said. “That would have a good impact on the area.”
Mr Saad was the agent who sold Wyndham’s most expensive property last year – a four-bedroom house in the Sanctuary Lakes estate that sold for $2.1 million, making it the highest Point Cook sale on record.
He believes turning Sanctuary Lakes into a suburb could potentially drive down insurance premiums due to the 24-hour security provided in the estate. Sanctuary Lakes residents presented a 2400-signature petition to the state government and Wyndham council last November calling on them to turn Sanctuary Lakes into a suburb.
Sanctuary Lakes Resort Services chairman John Anderson said he was thrilled by how many signatures the petition garnered in the two weeks it was circulated.
“Sanctuary Lakes residents have over- whelmingly supported the move,” Mr Anderson said, pointing out that the area’s population was expected to reach 12,000 within the next two years.
The council knocked back a similar request in October, 2014, after Sanctuary Lakes residents asked it to write to the Office of Geographic Names to grant suburb status.
But Mr Anderson said he was confident the bid would be successful this time after Manor Lakes residents won their own long-standing battle to become a suburb last year.
