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Early Christmas cheer for Keysborough homesellers

Real estate & property news
09 December 2023
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‘Significant growth’ for south-eastern suburb. Keysborough homesellers are enjoying early Christmas cheer with their properties achieving premium prices.

A renovated four-bedroom house at 12 Loxwood Avenue (pictured above & below), attracted four bidders and changed hands well above expectations, according to Barry Plant Keysborough partner Chang Wang.

The property was sold to buyers from an inner Melbourne suburb for an undisclosed sum, above the advertised price range of $790,000-$869,000.

“It passed in and sold immediately after the auction,” Mr Wang said.

All the bidders were young families who were attracted to the home presentation, which was professionally staged.

“It achieved a good price because of its size and multiple living areas,” Mr Wang said.

Mr Wang was familiar with the property because he sold it to the sellers about six years ago.

“They had made a few improvements to the home and were pleased with the result,” he added.

Mr Wang also achieved a repeat sale at 8 Kotiko Road (pictured below), which was sold immediately after the auction on November 25.

The four-bedroom house achieved a whopping $1.145 million result, above the advertised price range of $1-$1.1 million.

“I sold the home to the sellers three years back, during Covid, for $875,000,” Mr Wang said.

“They did really well given they made no major updates to the property.”

The auction attracted three bidders, including two young families, and an elderly couple who bought the home.

The pair plan to downsize from their property in Aspendale Gardens to the modern move-in ready house in the coveted Somerfield Estate.

On the same day, a stylish three-bedroom triple-storey townhouse at 30 Barncroft Crescent (pictured below), was snapped up by an investor for $675,000.

“The buyer paid close to the top end of the advertised price range,” Mr Wang said.

“She plans to rent out the property and will potentially move in later.”

The buoyant property market in Keysborough attracts all types of buyers, from first-home buyers and investors to families and downsizers, according to Mr Wang.

“I have seen significant capital growth in the 12 years I have serviced this area,” he said.

“There is a good supply of homes, and they sell quickly, on average, in less than 30 days of hitting the market.”

Median property prices over the last year in Keysborough range from $900,000 for houses to $642,000 for units, according to realestate.com.au.

Houses rent out for $580 per week with an annual rental yield of 3.3 per cent, while units lease for $495 per week with a rental yield of 4 per cent.

The suburb’s central location is a major drawcard for buyers, according to Mr Wang.

“It’s just 10 to 12 minutes to the beach and close to Eastlink and the Dandenong Bypass,” he said.

Schools in the suburb are also an attraction, including the prestigious Haileybury and Lighthouse colleges.

“And about 70 to 80 per cent of homes are owner-occupied, which makes it a good environment for families,” Mr Wang added.

Keysborough has developed quickly in the past ten years, offering a variety of homes priced above $2 million, from entry-level properties to luxury showpieces.

Modern houses on larger blocks in the newer Somerfield Estate are popular with families, including the brand-new four-bedroom house at 29 Tyers Lane (pictured below), priced at $1.35-$1.45 million.

“This luxury home is perfect for those wanting to upgrade,” Mr Wang said.

“It’s in a premium location near Parkmore and Keysborough South shopping centres.”

Mr Chang expected more listings to hit the market in the new year, offering buyers more opportunities to snap up a home in this flourishing suburb.

Real estate & property news
09 December 2023
Save Article

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