Geelong Property Market Update

January – April 2025

As we move through 2025, the Geelong property market has shown a steady and promising start. After a challenging few years nationally, Geelong’s unique position — offering both affordability and lifestyle appeal — continues to attract a wide range of buyers and investors. Here’s a look at how the market has performed so far this year, the trends we're seeing, and what the experts are predicting for the months ahead.

How the Market is Tracking

The good news for homeowners and investors is that property prices in Geelong have stabilised. After the volatility of recent years, the first quarter of 2025 has seen the median home price hold steady, signalling a healthier balance between supply and demand.

Certain suburbs have even experienced growth. Norlane reported a median house price rise of over $5,000, while unit prices surged by more than $54,000. Other suburbs like East Geelong, Armstrong Creek, and Waurn Ponds also posted modest gains, offering positive signs for local sellers and investors.

Shifts in Buyer Behaviour

There’s been a noticeable shift in who is active in the market:

First-home buyer activity has picked up, boosted by a 9% rise nationally in 2024. With the Reserve Bank of Australia (RBA) hinting at potential rate cuts later this year, more first-home buyers are expected to re-enter the market confidently.
Home upgraders are leading the charge. Many families are seeking larger homes with better amenities, driving strong interest particularly in Geelong’s middle and outer-ring suburbs.

Forecasts for 2025: What Experts Are Saying

Looking ahead, market forecasts are cautiously optimistic. Economists predict that the RBA may reduce interest rates by 0.25–0.5% mid-year. This would likely strengthen buyer demand, especially among first-home buyers and investors, and create a more active spring selling season.

Although Victoria’s overall growth has lagged compared to other states, Geelong stands out as an exception, and experts believe that the region will experience moderate, sustainable growth throughout the year, particularly in its most affordable and lifestyle-rich suburbs.

Suburbs to Watch

Several Geelong suburbs are emerging as standout performers for 2025:

Leopold, Belmont, Grovedale, Highton, Marshall, and Wandana Heights (the broader 3216 postcode) are all rated highly for their growth potential and liveability.
Corio and Norlane remain strong investment options, offering attractive rental returns and low vacancy rates.
East Geelong and Bell Park are showing resilience, with steady median price increases and consistent buyer demand.

Key Trends Shaping the Market

Several broader trends are also influencing the Geelong market this year:

Private sales are on the rise as sellers seek greater certainty, moving away from the unpredictability of auctions.
Sustainability is front of mind for many buyers. Energy-efficient homes, properties with solar panels, water-saving features, and eco-friendly designs are increasingly sought after.

Final Thoughts

The first four months of 2025 have laid a strong foundation for Geelong’s real estate market. While overall growth has been modest, stability has returned, and many suburbs are beginning to show strong signs of future potential. As we move into the middle of the year, possible interest rate cuts and a renewed focus on lifestyle living are expected to further boost buyer confidence.

For sellers, now is a great time to prepare properties to meet evolving buyer expectations — particularly around sustainability and technology. And for buyers, opportunities remain strong, particularly in growth suburbs and family-friendly areas.

At Area Specialist Geelong City, we’re excited about what’s ahead and look forward to helping you navigate Geelong’s property market in 2025.