All About Geelong, Greater Geelong, VIC, 3220

As of the latest data, the housing market in Geelong, Victoria, has been experiencing notable growth, reflecting a trend seen in many regional Australian areas. The city has become an attractive option for those seeking more affordable property prices compared to Melbourne, which is about an hour’s drive away. In recent years, the demand for housing in Geelong has been driven by both investors and new residents migrating from the capital city, lured by the lifestyle and the promise of growth in property value. This demand has sparked a rise in both property prices and rental rates, making the market competitive. With ongoing infrastructure developments such as improved road, rail links, and revitalized urban spaces, Geelong's appeal as a residential hub continues to strengthen. Suburbs like Highton, Belmont, and the waterfront areas are particularly sought after, featuring a mix of period homes and new developments, catering to diverse tastes and needs.

Living in Geelong offers a balanced blend of urban and regional lifestyles, with the city boasting a vibrant community atmosphere, beautiful coastal landscapes, and a growing cultural scene. Residents enjoy access to a myriad of amenities including shopping centers, cafes, restaurants, and well-regarded schools and universities like Deakin University. The city’s waterfront precinct is a significant drawcard, offering a picturesque spot for leisure and recreation with its promenades, parks, and public events. Additionally, Geelong's proximity to the Great Ocean Road and the Bellarine Peninsula provides endless opportunities for weekend getaways and outdoor activities such as surfing, hiking, and wine tasting. The city's economy is diverse, with robust sectors such as health, education, and advanced manufacturing, providing ample employment opportunities. Overall, Geelong presents a compelling option for families, professionals, and retirees alike who are seeking a blend of growth potential and quality living.

Geelong Real Estate Market Outlook

Thinking about buying in Geelong? Now could not be a better time, with 8135 residential properties there's certainly plenty to choose from. The average property price in this area is in the region of $1,095,000 with prices in this suburb ranging from $305,000 to $7,171,000. Geelong is located fairly close to the coast at just 0Km so as well as great views of the ocean and access to beaches, demand and valuations are likely to be a bit higher here.

Prices are above market average and increase steadily under persistent demand. A more sustainable rate of price growth is anticipated in the short to medium term. Incomes in Geelong are above average indicating a preference for good quality housing and lifestyle. That ensures consistent price growth. A mix of professions and above average income earners in Geelong provides good demand. The lower than average housing turnover of these people also means fewer regular listings leading to periodic large price increases. High density population in Geelong requires consistent turnover in housing ensuring constant demand. Housing styles may be a mix of low, medium, and high density, providing choice for well-financed buyers and value growth over time. Lower than average industry presence in Geelong we believe will be less of a negative impact than it has in the past. Post-COVID and the growth in working from home has lessened the demand for local employment options. This may make Geelong a better buying opportunity than it may have been in the past.

Instant Property Valuation

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Public Transport

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General Points of Interest

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Nearby Suburbs

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