Market & Local Wrap-up April 2023 Edition

Welcome back to your market wrap-up reflecting on the past month of March.

What’s new in 3217:

Read along as we take you through updates within the community, our team and the property market!

Armstrong Creek Community Hub on the west side of Armstrong Creek nears completion! With the building currently at lock-up stage, final touches are being completed such as painting, flooring installation and paving. Providing access to a new kindergarten, maternal and child health services, consulting rooms and community spaces, keep your eyes peeled for the grand opening in the second half of the year!

Keeping Up With Our Team:

The month of March was full of achievements and celebrations for our team. We congratulated Amy on her 3-year work anniversary and celebrated Steph’s birthday. Celebrations continued as Jayden McHenry was nominated as a finalist in the top 100 residential sales agents within Victoria for realestate.com.au’s Annual Excellence Awards. Our Director Megan Rovers also received a nomination for the 2023 City of Greater Geelong Women in Community Life Awards. An incredible achievement for both Jayden and Megan and we couldn’t be prouder. Some of our team then headed up to Melbourne to attend the Geelong Cats Season Launch. A wonderful night to celebrate the start of the footy season, we can’t wait to see what lies ahead for the Cats this year!

Sales Update:

Whilst the media is still depicting the property market Australia wide in a negative light, we are still seeing the Geelong region perform well. This has been evident through buyer confidence throughout March, where we again saw an upward trend, based on enquiries and open home attendees. Our team saw over 535 groups attend our open home inspections across the month of March and saw over 70,000 property page views on realestate.com.au. So, if you are looking to sell, reach out to our team today. We would love to assist you along your property journey.

Rental Update:

Our team have leased 36 properties over the month of March, and we saw our enquiry and demand remain steady in the region. We received 2,175 enquiries, 764 applications and conducted 284 inspections throughout the month. This month we also welcomed Josie Lewis to our property management team. Josie has commenced in a property management position, coming to us with an abundance of knowledge and experience, we are excited to have her on board. We have also been working hard to ensure all our properties under management are up to date with safety compliance checks. As of the 31st of March 2023, it is a requirement that all rental properties in Victoria have gas and electrical safety checks conducted every 2 years and smoke alarms must be checked annually. If you are interested to know more about our property management services, we would love to chat further!

Land Update:

Firstly, we would love to introduce our new Land Sales Consultant, Victor Das. A well-known face throughout the Armstrong Real Estate team, Victor brings extensive knowledge from his previous role in residential sales and has already made a wonderful impact in the land team. The month of March was a busy month in land sales.

With 5 listings sold, 4 going under contract and a further 4 offers being accepted. We are seeing strong enquiry from buyers and builders who have clients searching for land in the 3217 area, verifying that many buyers still have their eyes on the 3217 region to begin their property journey. We have seen high levels of enquiry from investors looking to build a property in the area and take advantage of the strong rental market on offer. Whilst first home buyers and upsizers continue to make up a strong portion of the 3217 market.

Whether you are looking to purchase land for your first home or your dream home, feel free to reach out to our team today. We would love to be of assistance along your land journey.

Until Next Time…

With a quarter of the year already done and dusted, we can’t believe Easter is in sight! Make sure to look out for the Bells Beach Pro being held in Torquay, approximately only a 15 minute drive from Armstrong Creek. Running from the 4th – 14th of April, this event will be wonderful to attend to be a part of an incredible atmosphere.

Until next time, if you have any questions or queries regarding your property journey get in contact with our team or pop into the office for a chat. Located at 478 Torquay Road, Armstrong Creek we would love to hear from you!