Town snapshot – Armstrong Creek

The size of Armstrong Creek is about 18.7sqkm and has multiple parks covering nearly 6 per cent of total area.

The population of Armstrong Creek in 2016 was 4,237 and by the 2021 Census the population was recorded at 11,247 showing a population growth of 172 per cent in the area during that time.

The Armstrong Creek area has developed into a dynamic younger community with shopping, education, health, recreation, and public transport right at their door.

The city’s population forecast for Armstrong Creek is to grow to 25,274 by 2041.

The vision for the Armstrong Creek growth area is to provide housing for between 55,000 to 65,000 people which is estimated to be around 22,000 residential homes, and to provide 22,000 jobs, with a focus on high technology jobs and developing synergies with Deakin University.

There are two dedicated employment precincts in the growth area, the North East Industrial Precinct and the Western Industrial Precinct.

The Major Activity Centre is also providing large scale employment opportunities across Armstrong Creek along with schools and community facilities.

The new $1 billion Armstrong Creek Town Centre is proving popular with residents and visitors alike with new local businesses and national brand stores coming online.

Presently serviced by the Marshall and Waurn Ponds Station, a rail connection to Torquay is also referenced through the framework plan that makes provision for a land corridor which runs from the existing Warrnambool-Melbourne line to the south of the growth area, which will ultimately allow for a rail connection to Torquay.

CoreLogic data indicates the predominant age group in Armstrong Creek is 30-39 years with households in Armstrong Creek being primarily couples with children and are likely to be repaying on average $1,800 per month on mortgage repayments, and in general, people in Armstrong Creek work in a professional occupation.

AGENT PERSPECTIVE:

“The Armstrong Creek market currently represents great buying, with larger homes available well under replacement cost, given the huge increases in the cost of building and the price of land in Armstrong Creek holding firm.

“It’s not unusual to find large homes at $150,000 under replacement cost in the market right now.

“There is also a lot more choice with 287 houses now for sale with the highest at $1,066,000 and the lowest price $409,900.

“Land sales are at record low levels. The average Geelong area rate of land sales was once at 243 per month, where now it was 22 for the month of March, this is making vacant land for buyers more affordable than the 2022 price peak.

“Estate such as The Mount have $50,000 rebates on the next four sales, other states are offering $30,000 rebates.

“Builders also have great bonus available to buyers, thus making it the best time to buy a lot and build in four years.”

Peter Julian – Belle Property

TIDBIT:

The new Armstrong Creek Library & Community Hub is being fitted out for the library service by the Geelong Regional Library Corporation, and is set to open in August.

Population: 11,247

Male: 48.5%

Female: 51.5%

Median age: 30

5 year population change: 172%

House median sales price: $675,000

Change in median price: (5yrs) 26.5%

 

Median asking rent per week: $500

Average length of ownership: 5.2 years

Owner occupiers: 75%

Renters: 25%

House median value:

May 2024: $703,500

May 2023: $709,000

May 2022: $783,000

May 2021: $677,500

May 2020: $578,000

 

House sales per annum:

Period ending May 2024: 359

Period ending May 2023: 246

Land median sale price:

May 2024: $353,500

May 2023: $349,500

Land sales per annum:

Period ending May 2024: 132

Period ending May 2023: 182