Caroline Springs has joined the million-dollar club, with not one but two of the suburb’s house sales breaking the price barrier.
Sweeney Estate Agents celebrated its first million-dollar sale – a double-storey house on The Grange – on August 1.
The property, featuring five bedrooms, a theatre room with raised seating, video intercom, in-ground swimming pool and polished floorboards, was built by Clearview Homes owner Peter Sammut about 18 months ago.
Sweeney director Glenn Grech said the house had been on the market for only a week when it was snatched up by a Ballarat family.
But it turns out the property was not the first million-dollar sale in the area.
Barry Plant Caroline Springs sold a double-storey Waterford Close property for more than its advertised price of $1.15 million on July 23. The double-storey house, on a 1100-square-metre block, includes five bedrooms, three bathrooms, a triple-car garage and games room with built-in bar.
Barry Plant branch manager Paul Muscat said the property was on the market for two months before selling for an undisclosed price.
“We had three offers above a million dollars, and the fourth one was the one who bought it.
“We knew the home was worth over a million dollars; it was just a case of how much over a million dollars we were going to achieve.”
Both selling prices are well above the area’s median house price, which the Real Estate Institute of Victoria put at $445,000 in the June quarter. The median house price for Caroline Springs has more than doubled since the first figure of $190,000 was recorded in March 2000.
Other large sales in the area in the past 12 months include $880,000 for a five-bedroom, double-storey property in Lauriston Quay, $830,000 for a 54-square house on Jackson Place, and $816,000 for a four-bedroom house with four separate living areas and an in-ground pool in Glenmaggie Chase.
Mr Grech, who lives in the area, said the recent market action would catapult Caroline Springs up the property ladder.
“Now people will look at Caroline Springs differently.”
