Family home in Perth suburb of High Wycombe could earn owners more than 10 times what they paid for
An Australian family is set to cash in big time as they prepare to offload a property they have owned for more than two decades.
The sellers took ownership of the 9500sqm parcel in the Perth suburb of High Wycombe for $475,000 in 2003, seeing it as an ideal size for multiple generations of their family to live together.
WATCH THE VIDEO ABOVE: Owners of humble Perth home set to score big in sale.
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By continuing you agree to our Terms and Privacy Policy.But they are now looking to part with the land — which contains a four-bedroom, two-bathroom home — and will consider offers starting from $5.95 million.
Boosting their hopes of a big pay day is a prior zoning change from rural to industrial.
Today, a number of sheds from neighbouring businesses loom over the land.
Property agents involved with the sale describe it as a “prime industrial opportunity”.
“Whether you’re looking to develop now or landbank for the future, 80 Sultana Road West presents a strategic investment in a fast-developing corridor with excellent access to Perth’s freight and logistics network,” they said.
“Don’t miss out on this exceptional industrial landholding – they are becoming few and far between.”
Property experts say this kind of windfall is partly down to luck but there is a good lesson for buyers.
“It’s certainly a windfall but it’s a 20-year overnight windfall to be exact, property expert Gavin Hegney told 7NEWS.
“It just shows you the effect you can have if you buy the right thing, over the long term.”
If you can hold on for 20 years, the advice is to look for older houses on bigger blocks and watch for suburbs that are still maturing.
Zoning changes, new home builds, new cafés, emerging schools, shopping centre redevelopments and train stations all push up values.
“As we expand our city, there are opportunities both with infrastructure opportunities adding to property values, but also rezoning opportunities,” Hegney said.
“Some of the rural areas and lifestyle areas on the fringe of Perth will become urban areas and when it happens, there’s a significant upside into the value of those properties.”
The property is one of several high-profile sales in Perth in 2025, including a Hammond Park couple who finally said goodbye to their home of 40 years in a $4 million deal.
Originally published on 7NEWS
