Number of first-home buyers nearly tripled in Armstrong Creek
THE number of first-home buyers purchasing land in the Armstrong Creek growth corridor has more than doubled since July 1.
Estates in the 3217 postcode have had record breaking sales in the month of July. Villawood Properties flagship Armstrong community in Mt Duneed recorded 64 new land deposits in July, smashing the previous record of 50 in October last year. Of those 64 deposits, 38 of them were from first-home buyers.
Meanwhile 70 contracts were exchanged in Armstrong Creek’s Warralily in July, also breaking a record for the estate. Of those 70, 25 were from first-home buyers.
And in Ashbury, 12 sales to first-home buyers were recorded.
This is a significant increase compared to the month prior for the 3217 postcode as the State Revenue Office recorded 27 first-home owner grants for new homes in June. The increase is due to the state government increasing the first-home owner grant from $10,000 to $20,000 for first-home buyers who buy or build their new home valued up to $750,000 from July 1. Stamp duty has also been abolished for first-home buyers purchasing a home up to $600,000.
“Over 5000 people have moved to the region in the last 12 months so it appears the secret is out — Geelong really does offer a more affordable, all-round better lifestyle choice than Melbourne,” Mr Costelloe said. Click here to read further.