Point Cook’s most expensive property has just smashed another real estate record.
The Panorama Way property in the Sanctuary Lakes estate sold last week for $2.33 million – less than two years after it sold for $2.1 million and became the most expensive residential real estate in Point Cook to that point.
Its latest sale is also the highest in all of Wyndham to date this year, the Real Estate Institute of Victoria (REIV) has revealed.
The four-bedroom, split-level house is spread over four levels, and boasts an indoor elevator, an inground swimming pool, an upstairs alfresco area with cast-iron fireplace, and a timber boardwalk with expansive views over the lake and golf course.
Sanctuary Lakes Real Estate agent Fadi Saad said the buyer, who owns another property in the exclusive estate, had been looking to upgrade, and made an offer on the property even though it wasn’t even on the market.
Mr Saad said the current owner – an international businessman based in Sydney – had been using the property as his holiday house.
“The record broke the record,” Mr Saad said.
Last week’s sale is the second Sanctuary Lakes property in the past week to break the $2 million mark – a property along Greg Norman Drive was picked up for $2 million at the weekend.
In other real estate news, agents are reporting an increase in first-home buyers investing in Wyndham properties.
Samantha McCarthy from hockingstuart said many first-home buyers in their 20s are buying properties in Hoppers Crossing, Tarneit and Wyndham Vale, intending to rent them out while they live with mum and dad.
“It seems to be people that have obviously worked or saved quite well, and may or may not afford to live out of home … in some cases, they’re renting closer to the city, which might be more practical for their work,” Ms McCarthy said.
REIV president Joseph Walton believes the current trend is a result of the state government’s decision to remove off-the-plan stamp duty concessions for property investors come July.
“The city’s outer suburbs are increasingly attractive to buyers and investors, offering affordability combined with quality infrastructure.”
