Taylors Hill is on track to sell its first million-dollar property this year.
A 55-square, single-level property on Darwin Street is on the market with an asking price of between $1.05 and $1.15 million – double the suburb’s present $515,000 median house price.
The house on a 1081-square-metre block includes five bedrooms, three bathrooms, two double garages, and in-ground pool.
Barry Plant Taylors Lakes director James Hatzimoisis is confident the property, which went on the market just before Christmas, will go beyond the million-dollar mark.
“It’s a stunning home … it’s the sort of home where you don’t have to spend a cent; you just move in and that’s it,” Mr Hatzimoisis said.
“It’s a high-end property so it needs a specific sort of buyer who’s going to want something that spreads out over a single level.”
Real Estate Institute of Victoria spokesman Paul Bird said at least two Taylors Hill properties had sold for more than $900,000 in the past 12 months.
Neighbouring suburb Caroline Springs joined the million-dollar club last year, with two of the suburb’s house sales breaking the price barrier.
Barry Plant Caroline Springs sold a double-storey Waterford Close property for more than its advertised price of $1.15 million on July 23, and Sweeney Estate Agents followed suit less than a fortnight after, selling a five-bedroom property on The Grange for an undisclosed price that was over $1 million.
Mr Hatzimoisis said when the Darwin Street property sells, it could create a domino effect for high-end properties going on the market.
“There are certainly homes in Taylors Hill that are worth more than [a million], it’s just that they haven’t come up for sale,” he said.
“For homes to be at that level, they’re normally ones that people have built themselves and they tend to stay in them for a little while.
“The area is relatively young so it’s a question of them actually putting the properties up for sale. Once there’s some big sales, it spurs others to put their properties on the market.”
