My Neighbourhood with Michael Armstrong
Teleisha Thomas
August 2023With a real estate career spanning almost two decades, Michael Armstrong has spent most of this time selling homes in the leafy areas of Stonnington. The appeal of the area’s proximity to the city, period homes, fantastic hospitality, and world-class sporting and music events, is recognised near and far; attracting families and individuals from interstate and around the globe. Recently awarded Jellis Craig Armadale, Sales Person Of The Year, we sat down with Michael to learn his insider’s perspective on the local real estate market, in this highly sought-after location.
You have been selling homes in Stonnington for 18 years. What attracted you to start a career in real estate?
My father was in Real Estate and his father before him – but that wasn’t necessarily the reason. I had a broad range of interests when I left school and considered hospitality, music and sport but I landed on real estate because I liked the blend of technical / business and social skills that the industry demands. When the dream of playing cricket for Australia didn’t quite launch, I went into full time work.
Stonnington has always been one of the most exclusive locales in Melbourne, with its suburbs regularly featuring in 'Melbourne's most sought-after' lists. Why do you think this is?
It’s all about lifestyle – the ability to access world class restaurants, cafés, sporting events, schools, parks and gardens – the quality of everything is so good that the demand will never go away. South Yarra is almost unique in its “walkability” – all of those lifestyle elements are easily accessible on foot from wherever you are in South Yarra.
What advice would you give to an up-and-coming agent on how to form and maintain great relationships?
To understand trust. Whenever I’ve had any referral or personally connected business through friends or family I make sure everything is done brilliantly – it is amazing how that network looks after you if you look after it!
The quarterly price change for Armadale is up 4%^. Why do you think this is, and where do you see the demand coming from?
Demand is staying fairly constant – buyers have recalibrated with interest rates, but what hasn’t recalibrated is the supply side – we are still well under long term averages for the number of available homes on the market.
What are your predictions for the premium market in Stonnington over the next 12 months?
The spring selling season has just kicked off and some open for inspections are seeing 30 or 40 groups through. Markets like stability, so if we see rates level out and the Government hopefully provide long term clarity around their policies, we will see the market settle back into a more normal rhythm. I see the very top end getting stronger – the appetite for trophy homes from both locals and abroad continues to amaze – Melbourne has really become a destination in this regard.
^Source: PDOL annual median quarterly change Q1 2023 - Q2 2023, for houses in Armadale, Victorian.
Whenever I’ve had any referral or personally connected business through friends or family I make sure everything is done brilliantly – it is amazing how that network looks after you if you look after it!
What areas of real estate are you most passionate about?
It’s a cliché, but I like working with great people – whether they be colleagues, clients, developers or architects – amazing things happen when a good team gets together and fires.
Do you remember the first home you sold in the area? Tell us about that.
The first property I ever sold was an apartment in Hawthorn, but I can’t recall the first in South Yarra – to me every time we are asked to represent a great Victorian terrace it is a privilege.
Tell us about ‘home’.
I recently renovated a Victorian terrace home only a year ago. However, my family's heartland is down on the Mornington Peninsula, where I spend as much time as possible.
What does a typical Sunday look like and what are your interests outside of real estate?
It has turned to exercise these days – a walk or run with my dog Roch and probably a visit to Prahran market and dinner with friends – simple things are the best! I go boxing twice a week with a group of friends known as the ‘legends’ which I never miss, food, restaurants, travel and architecture are the others – all in equal parts.
If you had a friend visiting from interstate, where would you take them...
FOR LUNCH - France Soir (then maybe another lap to burn it off!).
FOR AN ACTIVITY - It would be a lap of the tan, into breakfast on Domain Road.
FOR COFFEE - Neds Bake plus pickup a the weekly sourdough loaf.
FOR DINNER - Matilda for fine dining, or for something more casual Neighbourhood Pizza, then pop next door for a bottle of wine at Toorak Cellars
7 Pleasant View Crescent, Wheelers Hill is currently on the market with Jellis Craig.
