More than 10 properties have hit the market on West Lakes’s prestigious Delfin Island
The view from 5/68 Martin Court, West Lakes, a three-bedroom home on the market for $649,000 — $669,000.
FROM a mosquito-ridden swamp to one of Adelaide’s most prestigious suburbs, West Lakes is marking its 40th anniversary with a booming housing market that is a celebration of its success.
More than 10 properties at the sought-after Delfin Island are up for sale, ranging in price from $610,000 to $1.28 million.
CoreLogic data shows median house prices increased by 17 per cent between 2012 and 2016, making West Lakes homes an average of $293,000 more expensive than the rest of the city.
Looking back to 1993, West Lakes was still less affordable at $125,050 above Adelaide prices.
LJ Hooker West Lakes sales partner Rosemary Auricchio said the high demand was evident in recent auction results.
“The homes on the lakefront have been strong on the market,” she said.
“Recent properties that have gone to auction have sold in excess of the reserve price.”
16/24 Martin Court, West Lakes is a three bedroom home on the market for $890,000 — $920,000.
But development of the western suburb wasn’t always a certainty.
Though positioned perfectly between the sea and the city, it took almost a century for West Torrens MP Frederick Estcourt Bucknall’s 1882 proposal to proceed.
The plan reappeared in 1959 when the South Australian Harbours Board bought 96 per cent of the area and researched the creation of a tidal basin that was 5.2km long by 550m wide.
The job was enormous, the land desolate and the cost huge, but it was finally approved in 1968 when the scheme gained the backing of banks and insurance firms from the United States, Australia and England.
At the time, the West Lakes project became known for the private partnership, and was also the largest urban development of its kind in Australia.
The private enterprises negotiated with the State Government and Woodville Council, chipping in more than $1 million — the equivalent of $12 million in 2016 — towards the suburb’s development.
“Thus would disappear forever those dreary mosquito-ridden swamps that for generations have been both a reproach and an embarrassment,” the Harbours Board reported in its Greater Port Adelaide 1949-59 plan.
Development of West Lakes took a decade but the end result was a unique middle-class suburb featuring well-maintained parks, preserved beaches and attractive and well-built homes within safe cul-de-sacs.
It also became the first independent home of the SANFL when Football Park — later AAMI Stadium — was built in 1973.
Meanwhile, the hustle and bustle of construction continued just down the road at West Lakes
Right on th waterfront, this four-bedroom home at 34 McDonald Drive West Lakes has spectacular views.
Mall, later bought out and renamed Westfield West Lakes.
Ms Auricchio said those amenities, plus the proximity to schools and regular events such as rowing competitions, were still contributing to the area’s appeal.
The median house price at West Lakes is now $730,000 but the lakefront properties built on the man-made Delfin Island are closer to seven digits.
The new WEST development has opened doors to more affordable properties, ideal for new residents seeking a lifestyle change or locals looking to downsize, Ray White Woodville principal Peter Kiritsis said.
“I’ve sold two properties (in the past six weeks) to people that live nearby who are purchasing in the WEST development,” he said.
WEST, on West Lakes Blvd, features terraces and apartments of two to four bedrooms, priced around $400,000.
FOR SALE LAKESIDE
5/68 Martin Court, 149sqm, 3 bedrooms, 1 bathroom renovated unit. $649-669,000.
2 Collins Court, 728sqm, 3 bedrooms, 2 bathrooms architecturally designed house. Price: contact agent.
21 Anthea Court, 436sqm, 2 bedrooms, 1 bathroom house with an internal courtyard. $610,000.
1 3/24 Martin Court, 176sqm, 3 bedrooms, 2 bathroom apartment includes an elevated terrace and private spa. $900-990,000.
16/24 Martin Court, 220.00sqm, 3 bedrooms, 2 bathroom apartment with three balconies overlooking the lake. $890-920,000
12 Settlers Drive, 654sqm, 4 bed, 2 bath house including spa pool, built in bar and a large master bedroom. $755-775,000
34 McDonald Grove, 560sqm, 4 bed, 2 bath, 3-storey house. Price: contact agent
22 Liberman Court, 373sqm, 4 bed, 3 bath, modern house with private lake frontage built last year. $1.2-1.28 million.
509/145 Brebner Drive, 196sqm, 3 bed, 3 bath apartment with lake and ocean views. $860-890,000.
37/155 Brebner Drive, 391sqm, 3 bed, 2 bath, penthouse with huge modern kitchen and huge outdoor entertainment area. $850-879,000.