Caroline Springs has joined the million-dollar club, with a double-storey house in The Grange selling last week for $1 million.
The property, on a 560-square-metre block, has five bedrooms, polished floorboards, a theatre room with raised seating, video intercom and in-ground swimming pool.
It was built 18 months ago by the owner of Clearview Homes, Peter Sammut, who lived in it himself.
Glenn Grech, of selling agent Sweeney Estate Agents, said the property was on the market only one week before it was snapped up by a middle-aged Ballarat couple with children.
“I had a lot of calls and email inquiries about it, and a few people walked through the property in that week,” Mr Grech said. “But not everyone has that sort of money to spend.”
The $1 million selling price is well above the median house price for the area, with the Real Estate Institute of Victoria’s June quarter report putting the figure at $445,000.
Mr Grech, who lives in the area, said the sale would catapult Caroline Springs up the property market.
“I think people will now look at Caroline Springs differently,” he said.
“To reach this sort of level was always going to happen.
“It was just a matter of when and the right property coming along. Now this has happened, other homes [in the area] will fetch this and more.
“It’s a very family-oriented area, next to lakes, the schools, shops and restaurants.
“It’s a pleasure to live here and I’m sure everyone else who lives here thinks the same.”
Mr Grech said most people who sold homes in Caroline Springs remained in the area and were either upsizing or downsizing.
He said most homes still sold privately, as opposed to being auctioned.
“The first estate in Caroline Springs is about 15 years old now,” Mr Grech said. “Growth has been great, but I think there’s still a lot more room for it to grow.”
