Why Geelong is back on the radar between the best places in the country to buy – realestate.com.au

Geelong is back on the national radar for home buyers in the midst of new figures that reveal that house prices are accelerating again.

Rising sales data reveal the growing hurry from Interstate investors who want to buy before the growth cycle in Geelong, where affordability is at historically low levels.

Hotspotting’s Top 10 National Best Buys Report Names Greater Geelong under three Victorian areas where director Terry Ryder said that buyers should now buy.

A recent increase in sales activity has driven the change in Hotspotting’s vision of Geelong as a future growth market.

RELATED: Coastal Retail Strip Hits Record with $ 6 million+ real estate Deal

Renovators enjoy buyers who splash big on Belmont Homes

Geelong -Buitenwijks where a house pay is less than a cheap car

“It reflects the fact that regional Victoria has had great growth from 2020 to 2022 and in recent years a break in the real estate cycle,” Mr. Ryder said.

“Regional Victoria, led by Geelong, starts the next upward cycle, so this is the right time to buy in such places.”

Mr. Ryder said that there was also noticeable elevation in the sales activity in Bendendo, Ballarat and Shepparton in particular.

“The figures of the sales activity move first and the prices respond later,” said Mr. Ryder.

“So it’s a good time for people to buy in Geelong because it is ready for a period of price growth.”

Founder Terry Ryder said this is a good time for people to buy in Geelong.

---

The newest home price index from Proptrack also reveals the momentum fluctuation, with the average house price in August .82 percent in August, which confirms the annual growth of $ 10,000.

The median house price of Geelong rises to $ 773,000 at the end of August, while the price of unit climbed to $ 557,000.

Proptrack senior economist Eleanor Creagh said that values ​​or conditions in Geelong were reversed after a softer period in 2024.

“So, just as we see in Melbourne, a re-translation in house price growth in 2025 with interest rates that have gone lower, copper sentiment has improved, and of course, in Geelong you also have the extra factors of comparative affordability, lifestyle appetite and hybrid work flexibility,” said Mrs. Creagh.

Proptrack senior economist Eleanor Creagh said that affordability at historically low levels will stimulate the demand for homes in Geelong.

---

“So that value migration story that the question patterns really reformed during the Pandemie is still resonating with affordability on or close to historically low levels.

“Many choose to become more flexible with the location – we have seen that trend withdrawing from the highly raised levels in the pandemic, but remain above the average in terms of that city migration story.”

Mr. Ryder said that Corio and Norlane are among the top 50 markets throughout Australia based on the recent leap in sales activity.

“They are the two cheapest suburbs in Geelong and they have been very good artists in the past,” he said.

Investors of the Interstate have been a strong group that wanted to come early in Geelong. Photo: Alan Barber

---

Sales in the past five quarters rose from 50 to 97 in Corio and from 31 to 82 in Norlane.

“That is a considerably dramatic increase. It is quite mediocre from the last 12 months to where the sales activity of the last quarter has doubled. When that happens, the prices will inevitably rise.”

Nick Lord, director of Maxwell Collins, said that the city witnessed an unprecedented requirement of buyers between states, which contributed to increasing interest in mainly of first-home buyers.

The affordable long -term prospects seems strong from the point of view of investors, he said.

“It is unusual that we see Victoria and Geelong as probably the most undervalued now throughout the country, we have never experienced so much research from rich interstate investors, from Sydney, Perth, Brisbane,” he said.