Demand for acreages in The Hills results in several multimillion-dollar sales in the one week

Demand for acreages in The Hills results in several multimillion-dollar sales in the one week
Real Estate

This sprawling Dural estate has just sold for $3.34m

It is shaping up to be a bumper spring in the high-end Hills property market with a number of luxury acreages achieving multi-million prices in the past week.

Among the top sales 19 Wayfield Rd at Glenhaven, a magnificent estate with its own rainforest, dam and even underground squash court. The property, which includes a six bedroom residence, pool and swimming court, fetched $4.45m through LJ Hooker Dural.

More: Sprawling estate to smash local sales record

Why Aussies are so desperate to buy

Agent William Brush said the property attracted strong local interest with the purchasers relocating from Epping.

“There are definitely more buyers looking to spend $3m to $5m than what we have ever seen before, I guess you would call it affordable luxury,” he said.

19 Wayfield Rd Glenhaven

The property at Wayfield Rd Glenhaven includes parklike gardens, swimming pool, tennis court and underground squash court

Mr Brush put down the recent sales to a lack of available stock and competition between buyers.

“We have families wanting to either buy before their children start school next year or settle by Christmas so combined with lower interest rates and improved lending it is creating the perfect storm,” he said.

19 Wayfield Rd Glenhaven

The Glenhaven property was purchased by a family from Epping

At Kenthurst, a modern homestead set on acreage at 3 Bannerman Rd sold for $4.5m just nine days after being listed through Rance Property. It is the highest price paid in the semirural suburb in the past 18 months. Another resort style property at 3 Nolland Place also in Kenthurst sold last week for $2.755m through The Agency.

3 Bannerman Rd Kenthurst

This property in Bannerman Rd, Kenthurst sold for $4.5m

At nearby Dural, a sprawling six bedroom residence set around a tropical lagoon style pool with palm trees sold for $3.34m. The 2.02ha property at 15 Harris Rd was sold through Guardian Realty.

“This is a massive house, it probably takes up an acre and a half of space itself,” said agent Ben Jobberns.

“It could potentially accommodate three groups as it has a main house, a self-contained one bedroom apartment and what we called the ‘tennis court house’ which is really guest accommodation with a kitchenette and ensuite.”

Supplied Editorial 15 Harris Rd Dural

The home at Harris Rd has three separate accommodation areas

The luxury property was inspected by 24 potential buyers during its time on the market.

Mr Jobberns also believes the lack of listings is driving prices and combined with renewed confidence in the market. His agency sold 32 properties during September, a higher volume than during the market peak.

“I think back to two and a half years ago when the place was just manic and people were falling over each other at open homes to buy something on the spot, yet here we are doing a higher volume of transactions than what we were doing then,” he said.

“The thing is buyers are being much more level headed about it – they believe the market has hit the bottom and is coming back up and they want to get back on that journey again.”

Another acreage located at 663 Old Northern Rd, Dural is believed to have sold in the high $3m price bracket.

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