Armstrong Creek named a must-watch suburb as development boom continues
ARMSTRONG Creek has been ranked alongside Byron Bay as Australia’s best investments amidst a housing boom.
Despite being one of Geelong’s youngest suburbs, Hotspotting’s Price Predictor Index has named Armstrong Creek amongst the nation’s 50 housing markets to watch out for in 2021.
At just 30 per cent developed, the suburb is expected to provide housing for up to 65,000 people on completion with 22,000 residential homes.
The town received the ranking after sales continued to increase over consecutive quarters.
Villawood Properties is among the developers having huge success in the area with its 3000-lot community at almost 90 per cent sold.
“Armstrong Estate has a new Neighbourhood Activity Centre coming this year, we have just opened a new park in our stage 43 and a new Men’s Shed to be built shortly,” a spokesperson said.
This year Villawood Properties is anticipating to title up to 200 lots which will come from six stages.
“Land sales have been very strong, selling as quickly as we release the land and launch new stages,” the spokesperson said.
“Last year was expected to be tough and it started that way but the announcement of the First Home Owner grant, coupled with first home buyers, spurred a surge in sales.”
Prices have remained relatively affordable despite the increase in demand, making the area popular among first homeowners and young families.
The appeal of the booming suburb is its convenient coastal access, as well as the local infrastructure including schools and health services.
Josh Carter sales consultant at Barry Plant in Highton described the area as being consistent across the board.
“It really does prove that the lifestyle is really in demand with our listed properties throughout 3217, averaging up to 15 groups per inspection even with COVID’s restrictions,” he said.
Even without Government incentives, Mr Carter believes the area will maintain its consistent sales with the median price making it the more affordable sea change for metropolitan families.
“It really is an exciting time to be in property in such a sought after location,” he said.
“The amount of big business and government infrastructure being developed in the area is also a massive drawcard for families and investors to underpin themselves in the area.”
Last month groundwork began for the second stage of development to the Town Centre.
The second stage will see popular traders such as Dan Murphy’s, KFC and Hungry Jacks added to the centre which is already being labelled the “social heart” of the town.
The City of Greater Geelong has said the urban growth area will include schools, government offices, accommodation and numerous shopping opportunities, with a predicted 22,000 jobs to be available in the area upon completion.
Owner of the Armstrong Creek Town Centre, Andrew Welsh said the rapid development will continue to deliver “huge price growth and levels of demand” in the area.