Strong year for high-end Wyndham property sales

This house at Panorama Way, Sanctuary Lakes was one of 17 in Wyndham to sell for more than $1 million.

A four-bedroom house in Point Cook was the most expensive Wyndham property sold in 2015.

The property in Panorama Way, Sanctuary Lakes, is built on four levels and boasts an indoor lift, in-ground swimming pool, upstairs alfresco with cast-iron fireplace, and a timber boardwalk with expansive views of the lake and golf course.

An international businessman from Sydney paid $2.1 million in July – a Point Cook record.

It was one of 17 Wyndham homes to sell for more than $1 million this year.

According to Real Estate of Institute of Victoria figures, 13 of them were in Point Cook, three in Hoppers Crossing and one in Werribee.

In 2014, 11 Wyndham properties were sold for more than $1 million, with a four-bedroom, three-bathroom house on Greg Norman Drive in Point Cook the most expensive at $1.45 million.

On the flip side, a three-bedroom house in Werribee that went for $170,000 in April was the least expensive residential property sale in Wyndham in 2015.

REIV chief executive Enzo Raimondo said 95 per cent of Wyndham properties this year were sold by private sale.

“Victoria’s buoyant property market has recorded solid price growth over the past year, driven by a record auction market,” Mr Raimondo said.

“The REIV expects the state’s property market to remain solid for the remainder of the year, with strong auction and private sale activity through to late December.”

Fadi Saad, of Sanctuary Lakes Real Estate, who handled the Panorama Way sale, said he was not surprised the property was the most expensive sold in Wyndham. “There are plenty of high-end properties, but properties like this don’t often come on the market,” he said.

“There seems to be a healthy appetite for high-end properties, particularly in Sanctuary Lakes.

“It’s been another strong year for $1 million-plus sales … and I think that will continue.”

Mr Saad said even though the big four banks increased mortgage interest rates in October, he was confident that would not discourage buyers in the market for properties valued at more than $1 million.