Market & Local Wrap-up – November 2023 Edition
What’s New In 3217:
Our community in 3127 has been buzzing with exciting developments and initiatives that continue to enhance our way of life and bring us closer together. One of the most notable highlights has been the establishment of the Ashbury Community Fund, a heartwarming initiative by the Dennis Family Corporation. This fund has been instrumental in providing grants to a wide array of organizations, fostering a spirit of cooperation and support within our community. The grants have not only injected new life and vitality into various community projects but have also underscored the commitment of local businesses to the well-being and prosperity of the area.
Likewise, there’s significant progress to report on the highly anticipated Armstrong Creek Library & Community Hub. This project, which holds the promise of becoming a central hub for learning, collaboration, and cultural enrichment, is steadily taking shape. The construction and development of the library and community centre are advancing, and there are high hopes for an early to mid-2024 opening. Once completed, this facility is set to become a cornerstone of our community, providing a space for education, recreation, and social interaction that will benefit residents for generations to come.
Lastly, Spooky season was upon us with Halloween and in the spirit of community and fun, Armstrong Real Estate unveiled a tool for residents and eager trick-or-treaters: the 3127 Spooky Streets map. This map was designed to unite the community in Halloween celebrations, providing an easy way to find the spookiest houses and provide some fun opportunities for trick or treating.
Keeping Up With Our Team:
This month has been filled with impressive achievements and collective celebrations for our team. First off, Victor, Mia, and our director Megan participated in the Nike Melbourne Marathon event, completing the half marathon.
Additionally, the Armstrong team gathered in full force to attend the Business Excellence Awards. This was an occasion where we had the privilege of celebrating not just our own successes, but also those of our valued collaborating partners. A special mention goes to our Investment Property Consultant, Britta, who received a well-deserved nomination for BDM of the Year at the National Property Management Awards. This achievement recognises the hard work Britta continually contributes to our business and we congratulate her on this fantastic accomplishment.
Sales Update:
The spring months are a traditionally popular time to sell, and our team has noticed a climbing number of homes on the market over the past few months, with buyer activity remaining relatively consistent – leading to plenty of choice for buyers searching for a home in all price ranges.
As a seller it’s important to be aware of the number of properties on the market and knowing how best to make your property stand out from the crowd. We’re noticing more than ever that properties which come to market with quality staging and presentation, a considered marketing campaign and that are well-priced in relation to the market are drawing the most buyer attention and achieving impressive results.
The demographic of buyers is currently made up mostly of first home buyers and families relocating to 3217 for its friendly lifestyle. We continue to see the most activity with homes in the $600,000 – $700,000 price point, drawing in plenty of interest and spending only a short time on market before selling. Homes in the $700,000+ range are seeing success with upsizers and those with more specific search requirements, although experiencing a slightly longer time on market.
With the countdown to Christmas officially on, the team are gearing up for a solid end to the year. Feel free to reach out to our team if you’re considering selling soon, or thinking of waiting until the New Year, we would love to chat about a tailored selling solution for your property.
Rental Update:
Throughout October our team leased 38 properties, we received 2,193 enquiries, 523 applications and conducted 142 inspections. The return of the warmer weather will see air-conditioning units utilised more and more. It is a great time to check filters and vents are clean to ensure they are working efficiently.
We are also very excited to welcome Kirsten and Natalyn to our team as Property Managers. They both add valuable experience and insight to our team and we can’t wait to see them thrive in their roles.
If you are interested to know more about our property management services, we would love to welcome you into our office for a coffee – pop in to say hi anytime!
Land Update:
October was another positive month for the land sales team with 10 blocks being sold, and a further 8 being placed under contract. The month saw an increase in the number of buyer enquiries as well as a slight shift in demand towards larger lots. As the 3217 area continues to develop with numerous estates reaching construction stages, there will be no shortage of both titled and untitled land available.
If you are looking to purchase or sell a block of land, or simply have any questions about the current market, please feel free to reach out to our team today! We’d love to help you out.
Until Next Time…
As November quickly wraps up we look forward to dusting off our Christmas trees and hanging up our stockings for another special Christmas in 3217. Summer is a fantastic time of year to make the most of all that our area has to offer, from the world class beaches just moments away to the welcoming sense of community, 3217 is the perfect place to call home.
