Market and Local Wrap-up – February 2023

Welcome back to your first edition of your Local & Loyal Market Update for 2023.

What’s new in 3217

The Hop Inn Mount Duneed and Brew Crew Coffee House sadly announced it’s closure as of January 31. A tough decision made due to the lasting effects of COVID-19, financial stresses, family health issues and lack of long-term venue security. While we are sad to see this wonderful community business go, we wish them the best with everything moving forward.

Roadworks will continue to progress further into Armstrong Creek come February until June 2023. With road closures on both Horseshoe Bend Road and Boundary Road, City Services manager David Graves encourages frequent users of these main roads to add extra travel time when departing for your trip.

Bay’s Ride for Wishes, a Make-A-Wish Foundation are looking for a group of up to 30 riders to participate in a 900km bike ride stretching from Sunbury to Federation Square Melbourne. Stopping in Apollo Bay and Barwon Heads, the aim of this ride is to raise $60,000 for the Make-A-Wish Foundation, allowing wishes to come true for kids with critical illnesses in Australia. If you wish to participate head to makeawish.com.au.

Keeping Up With Our Team

In latest news, January has seen our team grow as we welcome on board two new employees.

Tom Ryan comes to our team as our new Sales Associate, along with Toby Wilson, joining us as a Hub Consultant who will work alongside the team at Armstrong Real Estate.

We also had many celebrations leading into the New Year including celebrating the birthdays of Teegan and Georgie, as well as Jesse’s two-year work anniversary.

Sales Update

Throughout January we have seen a significant increase in buyer confidence in the current market. The month saw a steady increase of buyer enquiries and open home attendees, alongside a decrease in average days on market to 52, compared to the market average of 62.

Our sales team have seen a strong start to the new year, with 23 sales and an average of 130 buyers through open homes and private inspections. Our team received 463 buyer enquiries for the month and saw 81,638 property page views on realestate.com.au.

So, if you are looking to sell, reach out to our team today. We would love to be of assistance along your property journey.

Rental Update

We welcomed 2023 with a very busy month of January, leasing 32 properties. We received over 1,965 enquiries, 762 applications and conducted 209 inspections throughout the month.

The warmer weather has been welcomed and with the return of the builders, our business development team have been busy assisting new clients with preparing for leasing their brand-new homes.

If you are interested to know more about our property management services, we would love to welcome you into our office for a coffee, we look forward to seeing you in 2023!

Land Update

Throughout January we saw plenty of both titled and untitled blocks coming to the market as well as a considerable increase of buyer enquiry to start the new year. This buyer confidence has been highlighted with 5 blocks sold, 3 under contract and another offer accepted.

We have also seen strong enquiries from investors following the increased media attention of the current Australian rental crisis with house and land packages in conjunction with Property Hub Build offering attractive options for investors.

Until Next Time…

With the New Year well and truly underway and as we get back into the swing of things, we would love to see your faces drop into our office for a chat.

Located at 478 Torquay Road, Armstrong Creek we would love to know how we can assist you along your property journey in 2023!