Cashed-up buyers are pouncing on any new listing at the top end of the market in an outer-east suburb.
A tightly held semi-rural pocket of Lysterfield is coveted for its luxurious lifestyle properties with hefty price tags.
A buyer has splashed $6 million on a five-bedroom entertainer at 29 Logan Court (pictured above), after he missed out on an acreage home at 4 Bergner Court (pictured below), which sold for $8 million last year.
“But they both sold to locals keen to upsize to luxury lifestyle properties, and the Logan Court buyer had been waiting for something special to come up,” he said.
“$6 million is a massive price in the suburb and the couple who bought it are moving from a smaller acreage.”
On an elevated acreage block with a $5.8-$6.3 million price guide, the Logan Court property sold before its June 20 `Sale by Set Date’.
“We had quite a few inspections, and three serious buyers emerged including one who made a strong unconditional offer,” Mr Wilson said.
“The top end of the market is quite strong as buyers who have come out of COVID are ready to purchase.”
As the supply of prestige homes was low, there was an average of four buyers per property, he added.
“We easily have buyers for new listings and continue to enjoy the largest market share in Lysterfield and Rowville,” Mr Wilson said.
The agency also recently sold three premium homes in the area, including 3 Greenbank Court, Lysterfield, which fetched $2.305 million.
“There were six offers for the home and the competition drove it past the top of the range, which was $1.9 million,” Mr Wilson said. Meanwhile, 5 Rosewood Boulevard, Lysterfield, sold for $1.875 million
In nearby Rowville, 17 Superior Avenue changed hands for $2.28 million.
6 Birchbank Close, Lysterfield South with a $1.95-$2.09 million price guide, has come under offer.