Westwood continues to forge ahead as the fastest growing community in the Western Corridor. In fact, in the month of May, demand was so strong that Westwood captured a market share of 9.6% of the entire Melton area.
Sales data from RPM Real Estate Group shows the heat in the market through the Western Corridor has been maintained throughout the months of COVID with continued strong purchaser interest.
After a massive first quarter (demand in Westwood was consistent right through the pandemic) many industry experts made predictions that Fraser Rise is the next property hot spot for Melbourne; it’s a reality that has become increasingly apparent with each month’s sales data from across the state of Victoria.
For the month of May, Westwood was the fastest-growing community in the Western Corridor, and in the top three preferred estates in the entire state of Victoria. While Westwood’s results have been very promising, the entire Western Corridor area has reported consistent increases on monthly demand growth in part due to government support such as the HomeBuilder Grant, and the significant council plans for infrastructure and future jobs growth in the area.
Westwood community is fast developing: stages 1-4 have already been settled and were all delivered with the construction of over 50 houses already commenced on the ground.
In the month of April to June, Westwood has also recorded the highest sales enquiry registration rates for the entirety of the project since launching in 2017. The consistently strong performance that Westwood saw leading up to the recent May results were also due to a combination of pricing, product quality, product diversity, and the support of a strong sales team on the ground made up of locals with a genuine interest in growing a community in the area. The Westwood sales team show a level of care and local knowledge that is unlike anything else in the area.
The Westwood sales team is reporting purchasers getting in as early as possible to be a part of the emerging Westwood community. It is all about family at Westwood, and many are purchasing lots adjacent to relatives while it is still possible. Families are looking at the ample green space at Westwood and purchasing together so that children from the extended family can grow up next door to each other.
Westwood has a variety of product available with traditional land lots in myriad land sizes and frontages catering to first home buyers or upgraders as well as townhomes reflecting the dynamic demand of the market. Westwood land prices start from just $189,500 and the townhomes prices start from just $394,000. It is diversity such as this that shows the developer’s commitment to varied streetscapes that will only further increase the project’s value into the future.
