Market & Local Wrap-up – October 2023 Edition

What’s New In 3217:

As September concludes, there are several exciting developments and initiatives for the residents in our beloved community of 3217.

In terms of infrastructure and transportation, great progress continues to be made on the much-anticipated Surf Coast Highway project. The construction of a new elevated rail bridge is underway, which will not only enhance the efficiency of our transportation network but also contribute to the aesthetic appeal of the region. This forward-looking project aims to provide better connectivity and convenience to residents and visitors alike.

The first stage of the Sparrovale Wetland Reserve in Charlemont has been successfully completed. This reserve promises to be a haven for wildlife and manage increased stormwater within the vicinity of new developments. Its completion marks an important milestone in our ongoing commitment to preserving and enhancing the natural wonders of our region.

Finally, our Spring Front Yard Competition is well underway! Keep a keen eye out for the competition signs adorning front yards throughout the area, showcasing the creativity and green thumbs of our fellow neighbours. What’s even more exciting is that you can participate by voting for your favourite front yard. Your votes not only show appreciation for the hard work and dedication that goes into these stunning landscapes but also give you a chance to win a $250 voucher for Horseshoe Bend Nursery, encouraging a bit of greenery in your own life.

Keeping Up With Our Team:

We kicked off the month by commemorating R U OK Day, a meaningful occasion that underscores the significance of mental health and encourages open conversations among colleagues, reminding us all of the importance of checking in on one another.

In a delightful display of camaraderie, the Armstrong Team joined forces to attend a Trivia night hosted for Armstrong United. The trivia night not only provided a great opportunity for friendly competition but also served as a reminder of our collective unity and shared values, strengthening our sense of belonging to the Armstrong family.

Likewise, this month was marked by the celebration of two special birthdays within our team, those of Lisa and Pia. We express our appreciation and well-wishes for both of them, who contribute so much to our collective success.

Sales Update:

Our sales team has had a strong start to the Spring selling season, with 18 sold and 41 new listings across the month of September. With an increased amount of stock coming to market as we tend to see progressing towards the end of the year, now is a great time to be out looking to purchase.

We are finding the average time on market is still sitting anywhere between 4 – 6 weeks. Properties in the $600,000 – $700,000 price point are seeing increased interest and selling at a faster rate, due to the large pool of buyers searching for a home in this price range. These buyers mainly consist of downsizers, first home buyers and investors alike.

Armstrong Creek and Charlemont have recently been identified by realestate.com.au as ‘supercharged’ suburbs for growth this spring – providing us with confidence that these areas will continue to see strong demand in terms of both the number of new listings and positive buyer activity.

Rental Update:

Our rental department leased 34 properties over the month of September, we received 1,918 enquiries, 496 applications and conducted 192 inspections throughout the month.

The start of Spring marks a return of the warmer weather, along with an increase in enquiry and demand from prospective renters in the region. We’ve noticed an increase in interest from families hoping to move to the area before the Summer holidays, indicating that this positive trend will continue for the next few months to come.

In other news, we are very excited to welcome Kimie to the team as a Property Manager. Kimie joins us with an abundance of experience, a keen eye for detail and a strong focus on building relationships with her clients. We can’t wait to see Kimie flourish in her new role.

If you have any questions about the rental market, or are curious to learn more about our property management services, feel free to get in touch! We would love to welcome you into our office for a coffee – pop in to say hi anytime!

Land Update:

September was another positive month for the land sales team. Interest rates held for the third month in a row which has led to an increase in buyer enquiry. Throughout the month we sold 9 blocks with a further 3 lots going unconditional pending settlement.

If you are looking to purchase or sell a block of land please feel free to reach out to our team today, we’d love to assist you with any questions you may have.

Until Next Time:

We look forward to the increase in market activity that comes along with the warmer months of Spring. For all things 3217, feel free to pop in to our office for a chat, we would love to help you out.