A boutique estate home has gifted its owners almost $100,000 per year while they have lived in it.
The 15 Leichhardt Court, Sandhurst property, which faces the fairways of one of two nearby championship golf courses, sold for $1.2 million recently.
It gave the sellers a gain of $390,000 — a strong 48 per cent since their 2015 purchase of the five-bedroom, four-bathroom house.
The strong result was due to competition from two buyers and the quality of the listing, OBrien Carrum Downs agent Michelle Stephens said.
The luxury property sold near the top of its $1.15-$1.25 million price guide to a family from Hawthorn who were seeking a large family home with access to golf amenities.
“The family bought it after seeing it at the inspection and put in a very good offer with a short settlement and better terms,” she said.
“The estate is a niche market and a lifestyle choice and attracts a certain type of buyer.”
CoreLogic data reveals the suburb’s median house price was $807,000 in the 12 months to February, marking a rise of 30 per cent over a three-year period.
Ms Stephens said the strong price growth, especially for the most expensive properties, was because there were just a handful of vacant blocks left for development.
There was limited supply and buyers were prepared to pay for quality homes in the estate, she added.
Residents in the estate pay a body corporate fee which covers 24-hour security, monitoring and an alarm system.
They also have access to a club with a gym, tennis court, pool and dining facilities plus cycling and walking trails and lakes. Membership to the Sandhurst Club golf courses is separate.
With 4981 residents, Sandhurst has the fewest number of residents in the Frankston council region after Langwarrin South.
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