THE first property to sell in Yuroke this year has been snapped up for $1.57 million.
The four-bedroom house on a 2ha block at 760 Craigieburn Rd, near Greenvale and Craigieburn, was on the market for the first time since it was established decades ago.
CoreLogic records show the property is the first to sell in the suburb this year.
Two homes changed hands in 2017, including the four-bedroom house on a 2.77ha block at 1585 Mickleham Rd that sold in November for $1,850,001 to a community group. The sale set a benchmark price for the suburb.
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Jason Real Estate director Jason Sassine said homes in Yuroke were tightly-held by families who had lived there for generations.
“This sale was an emotional one for the original owners,” he said.
A family from Roxburgh Park who defeated five other buyers to win the keys to the property planned to build a dream home on the block.
Mr Sassine said the lifestyle property attracted strong interest from owner-occupiers, community groups, and investors who wanted to land bank for future development.
All would-be buyers were attracted to the size of the property, location and its potential.
“While the original timber home needed some rejuvenation, the potential of the block was endless,” Mr Sassine said.
Currently in a green wedge zone, the significant parcel of land with a 100m frontage is 25km from the CBD and near the future release of the Craigieburn West Precinct Structure Plan.
Larger lifestyle properties were getting harder to come by, according to Mr Sassine.
“As this one in a green wedge zone is still more affordable than those in neighbouring suburbs,” he said.
“They are mainly in urban growth zones and coveted by developers who are pushing up prices.”
SUBURB PROFILE: YUROKE