The past 12 months represent a real coming of age for the Albany Highway strip and the surrounding residential homes.
There is the buzz of real activity on our strip, not that underground hum of expectation which seems to have plagued us for years. The strip has reached critical mass. It’s the snowball coming down the mountain, and it’s not getting any smaller.
Home Opens on the weekend are full of Buyers who for the most part want in on the vibe that is the Vic Park Life.
The last 12 months has also been a period of price growth.
Often I am asked, how long can it last? At which point I search feverishly for my crystal ball.
Fundamentally as long as the money tap is on (cheap interest rates and aggressive bank lending) and there is a supply shortage of quality housing stock then the underlying growth should continue. Add the positively changing nature of our Town and the more “monied” demographic buying in and we get the icing on that growth outlook. Change is driving price and that change isn’t slowing down
The nature of what it is to live and buy a home in Vic Park is also changing. The expectation of a full block has waned, as has the demand for Green Titled blocks. Over 10 years ago that was the first specification a buyer would give me. Now strata is de rigueur and a block size under 200m2 is not unusual, nor unacceptable. The buyer’s first request is more likely to be, what have you got close to the strip? Or that they need to be in a particular school zone. This is dense, inner city style living, all about lifestyle and location. Suddenly, it seems, the drivers are; to not commute, to live in a walkable suburb, to have that lock and leave easy care residence and be part of a real community.
So as a local Agents we don’t sell just houses. People are buying a whole community. A way of life. And as local business people we are responsible for fostering and contributing to the diversity that is this thing we have tagged the Vic Park Life.
