Point Cook … the place to be among home buyers

Sanctuary Lakes is hot property among home buyers with cash to splash.

This month alone a block of land and an established house in the Point Cook estate each sold for $1.8 million.

The first, a four-bedroom, three-bathroom double-storey house on a 900 square-metre block along Panorama Way sold privately after three months on the market.

Its owners purchased the property in May 2010 for $1.27 million.

Meanwhile, a local buyer will be building his “forever” home after purchasing a 2500 square-metre block on Greg Norman Drive, which also commanded a $1.8 million price tag.

Fadi Saad from Sanctuary Lakes Real Estate, handled both sales and said the Panorama Way property was a unique buy.

“It’s not your traditional home; it’s got that American feel in its styling,” he said.

“The aspect is the best feature of the house – it looks out onto the main body of the lake and has views of the 18th [golf] green.”

Last year, Mr Saad sold another Panorama Way property for $2.1 million, which remains the most expensive residential property ever sold in Point Cook.

Located in the gated Pinnacle section, the block of land Mr Saad sold was the largest in the Sanctuary Lakes estate and overlooks the golf course and lake.

“The Pinnacle is a sought-after little pocket of the area, and land is a rare opportunity.

“This block is arguably the best block and is surrounded by large custom-built homes.”

Jasmine Walters from the Real Estate Institute of Victoria confirmed these were the most expensive residential sales in Point Cook this year to date.

Ironically, the sales come the same month as new REIV data reveals three Wyndham suburbs are among the top 10 most affordable in the state.

In the three months to June 30, Werribee was Melbourne’s second most affordable suburb, with a median house price of $355,000.

Wyndham Vale ($385,000) was listed fourth, while Hoppers Crossing was sixth ($390,000).