What Does $1,200,000 Buy in Varsity Lakes in 2026?

Set the dial at $1,200,000 in Varsity Lakes and you land right at the suburb's entry line. We found four houses clustered just above it — from $1,249,000 to $1,350,000. Same money, roughly. But the spread runs from a three-bed on 403 sqm to a four-bed with a separate studio out the back. Here's what that budget actually gets you.

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The Lineup

1. 21 Misty Court — $1,249,000

3 bed | 2 bath | 2 car | 403 sqm

The cheapest of the four, and the smallest block. 21 Misty Court is a single-level, three-bedroom home at the end of a cul-de-sac, with air conditioning and an ensuite off the main. At 403 sqm it sits 61 sqm under the suburb's median lot size, so you're buying the position and the single-level convenience rather than the land. It hit the market fresh — zero days on when we pulled the data — which means no price history to read yet. For a buyer who wants a tidy, low-maintenance house at the bottom of this price band, it's the straightforward option.

2. 6 Notre Dame Court — $1,295,000

3 bed | 2 bath | 2 car | 407 sqm

Also three bedrooms, also a cul-de-sac, also a shade over 400 sqm — but $46,000 dearer than Misty Court. The difference here is a shed and established gardens on a well-kept block, marketed as a home with room to add value over time. At 407 sqm the land is near-identical to Misty Court, so the premium is buying condition and the extra storage rather than space. A three-bed at $1,295,000 asks a real question of the buyer: what's the shed and the garden worth to you against $46,000?

3. 20 Castello Circuit — $1,349,000

4 bed | 2 bath | 2 car | 500 sqm

This is the land play. At 500 sqm, Castello Circuit offers 97 sqm more than Misty Court — and a fourth bedroom, a study and a courtyard on top. It's listed vacant, a short walk from the water, and at $2,698 per square metre of land it's the best value per sqm in the group by a clear margin. The catch is the ask: $1,349,000, or $100,000 more than the cheapest option. But you're getting an extra bedroom, a study, and the biggest block — the only home here that clears the suburb's median lot size.

4. 38 Roundelay Drive — $1,350,000

4 bed | 3 bath | 2 car | 410 sqm

The most expensive, and the most flexible. Roundelay Drive is a four-bedroom, three-bathroom home with a fully separate studio dwelling at the rear — the only property here set up for dual living, whether that's extended family, a home office or rental income. It also has the most bathrooms in the group and a full feature list: dishwasher, ensuite, outdoor living. The land, though, is 410 sqm — 90 sqm less than Castello Circuit for a dollar more. And it's been on the market 49 days, against zero-to-one day for the rest. At this price the separate studio is what you're paying for.

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What Stands Out

The clearest split is bedrooms versus land versus flexibility. The two three-bedroom homes — Misty Court and Notre Dame Court — sit on near-identical blocks around 405 sqm and open the band at $1,249,000 and $1,295,000. Step up to $1,349,000 and Castello Circuit adds a fourth bedroom, a study, a courtyard and nearly 100 sqm more land. On a per-square-metre basis it's the standout: $2,698/sqm against $3,099 for Misty Court, $3,181 for Notre Dame and $3,292 for Roundelay. If land is what you value, Castello Circuit does the most work per dollar.

Roundelay Drive tells a different story. It's the dearest at $1,350,000 and sits on 410 sqm — 90 sqm under Castello Circuit — yet costs $1,000 more. What closes that gap is the separate studio dwelling and a third bathroom, neither of which the others offer. That's the trade-off the data lays bare at this price: you can buy the biggest freestanding block (Castello), or you can buy dual-living flexibility on a smaller footprint (Roundelay), but not both for $1,200,000-ish. Worth noting too — Roundelay has been listed 49 days against a suburb median of 26, while the other three are days-old. In a market moving as fast as this one, time on market is a data point buyers can read for themselves.

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What This Tells Us About Varsity Lakes

At $1,200,000 you're shopping the floor of this market, not the middle. The suburb's rolling median house price (houses only, Fields internal data) sits at $1,412,500, with the lower quartile at $1,205,000 — meaning three of these four homes are priced below the 25th percentile, and all four fall under the median. That's the reality of Varsity Lakes in 2026: annual house-price growth of +17.7% has pushed the mid-market well past $1,400,000, so $1,200,000 now buys the smaller-block, three-bedroom end rather than the four-bed-on-a-big-block homes it might have a couple of years ago. With a median of 26 days on market across 60 house sales over the past 12 months, stock at this level doesn't tend to sit — which is exactly why the freshly listed options here are worth watching closely.

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Disclaimer: The information in this article is for general informational purposes only and does not constitute financial, investment, or valuation advice. Fields Real Estate (Licence No. 4832972) makes no warranty as to the accuracy or currency of data published. Readers should conduct their own due diligence and seek independent professional advice before making any property or investment decision. Read our full disclaimer →