Lysterfield’s top end property market ‘bulletproof’ after estate notches $6m sale
An outer Melbourne suburb that’s gone from paddocks to luxury homes in the space of 30 years has had its top end dubbed “bulletproof” after a $6m luxury home sale.
A luxe Lysterfield estate with its own pool, tennis court, dam with a jetty and a built-in bar inside, has sold for $6m in a deal the agent says proves the suburb’s top end is “bulletproof”.
The sprawling five-bedroom house on a 1.17ha block at 29 Logan Court spent just 29 days on the market, a week less than the Melbourne average, before it was snapped up by a local.
Barry Plant Rowville sales manager Anthony Johnson said they had seen a number of “spectacular results” since rate hikes began, but the $6m sale was the biggest since another luxury house designed to be a piece of Tuscany in Melbourne on an almost 2ha allotment at 4 Bergner Court sold for $8m in April last year.
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“We’re surprised that the top end here seems to have held its own,” Mr Johnson said.
“At the top end, it’s bulletproof.”
He added that the result was more impressive given Logan Court and the surrounding Carrington estate had been paddocks with cattle grazing on it 30 years ago.
“But there’s no more land to come and land is starting to dry up in this area,” Mr Johnson said.
“Anything 1000sq m and above is achieving a great price at the moment.
“And if you step inward another suburb or two and it pales in significance to what you get for the same money here.”
Remarkably, the bulk of the interest is coming from Lysterfield, with this year’s $6m sale and the $8m deal signed last year both going to people already living in the suburb.
Mr Johnson said that in many cases it was the locals who knew about the views on offer in the suburb, or that top schools in the area often offered school buses to pick up kids.
In the case of 29 Logan Court, the buyers will also enjoy a five-bedroom, four-bathroom floorplan that covers about 734sq m of interior space.
A built-in bar and multiple living spaces are joined by features ranging from stone benchtops, high-end appliances and a built-in coffee machine.
Outside, the floodlit tennis court and pool are complemented by an outdoor kitchen and four-car garage.
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Originally published as Lysterfield’s top end property market ‘bulletproof’ after estate notches $6m sale
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