In a sign of the fierce competition sweeping Melbourne’s western suburbs, a four-bedroom home in Truganina has been sold for $748,500 after an intense auction, with a Sydney-based investor securing the property without even viewing it in person.
The auction for the home at 65 Lucerne Drive began at $690,000, but quickly escalated as six bidders, including the interstate investor, vied for the property. The fierce bidding highlighted the growing demand for homes in Melbourne’s outer suburbs, where prices are climbing rapidly.
According to Ray White Werribee agent Petar Krnjeta, the areas of Truganina, Tarneit, and Wyndham Vale have become hotspots, attracting significant interest from both local and interstate buyers. He noted that this surge in demand has led to multiple parties fighting for a limited number of high-quality homes.
“From the moment bidding began, it was clear there was no stopping the momentum,” Krnjeta said. “Buyers were going head-to-head, with prices rising after every bid.”
The home itself, which features modern design elements and ample space, contributed to the heightened interest. The property boasts a sleek entryway, spacious open-plan living, a designer kitchen with stone benchtops, and a butler’s pantry. The addition of two separate living areas, a low-maintenance backyard, and a covered alfresco area sealed the deal for many potential buyers.
Interstate buyers, particularly from Sydney and Queensland, have been showing increased interest in properties priced under $850,000 in the region. These investors, seeking better value than in their own markets, are snapping up homes sight unseen, as demand continues to outstrip supply.
“There’s tremendous interest from Sydney and Queensland buyers. They’re finding exceptional value here that isn’t available in their own markets, which is why they’re jumping on every viable investment opportunity,” Krnjeta explained.
The Truganina property also appealed to remote workers, thanks to a dedicated home office, which has become a priority for many buyers in the wake of the growing trend of working from home.
In addition to its modern design, the home features a spacious master bedroom with a private ensuite and walk-in robe, while the remaining three bedrooms come equipped with built-in robes. A designer bathroom with dual sinks and contemporary black tapware adds a touch of luxury, further boosting the home’s appeal.
As property prices rise in Melbourne’s west, Krnjeta predicted that homes like this could reach $1 million within the next five years. With supply lagging behind demand, he urged potential sellers to act now before more properties hit the market, as upcoming rate cuts may further drive up prices.
“There’s simply not enough stock to meet the growing demand, and that’s pushing prices higher at every auction,” Krnjeta said. “For buyers who are waiting on the sidelines, delaying won’t make it any easier to secure a property.”
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