Arbee’s biggest year yet with multiple million-dollar properties sold

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Arbee’s biggest year yet with multiple million-dollar properties sold

 

It’s been a big year in real estate, and we’re super proud of how much we’ve achieved in our first full year back as an independent agency.

The last 12 months have been massive for the purchasing of both commercial and residential property, particularly for agencies located in regional and rural Victoria.

Arbee Real Estate sold 14 local properties over the $1 million mark, with the highest price achieved being $2,000,000.

89 Canopus Circuit in Long Forest was placed on the market at 3:30pm and by 8:40pm that night, an offer of $1.35 million was locked in. That purchaser was successful.

Properties in Greendale, Darley, Maddingley, Rowsley, Hopetoun Park, Korobeit and Long Forest also surpassed the $1 million mark, adding to Arbee’s portfolio of multi-million-dollar property sales.

Arbee Managing Director Steve Creese says sales were a direct result of the current market.

“This would be the most amount of properties in the million-dollar price range that we have ever sold in a 12-month period, that’s for sure,” he said.

“Properties in this price range used to be few and far between in the area but are becoming quite common place.”

People were moving to regional areas for a tree change during the pandemic which, in turn, has had a positive impact on the housing market.

Mr Creese believes that this has been influential in the growth of Bacchus Marsh, Darley and Maddingley in particular.

“Buyers now see their home differently to pre-COVID,” he said. “A home has morphed into a space that combines living, working and entertaining more than ever before.”

“Being one of the closest regional towns to the city also benefitted us as many people understand that they may never go back to working five days a week in a city setting.”

“This allows them to move a bit further afield, where they can achieve better value for money and a better lifestyle,” Mr Creese continued.

So, what about the million-dollar property market? Is it likely to drop?

It’s a tricky thing to predict, but Managing Director Steve Creese says he can’t see it going anywhere fast.

“An interest rate rise, the level of inflation and even the conflict in the Ukraine could have a negative effect, but personally I cannot see prices dropping, only potentially slowing.”

Arbee currently have multiple houses on the market over the $1 million mark and Mr Creese says it seems like the market may mirror 2021.

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