With the federal election behind us and interest rate chatter continuing, the regional Victorian property market is showing signs of confidence.. and Geelong suburbs are no exception!
At Area Specialist Geelong City, we’re seeing the real-time impact in our day-to-day work across Geelong. Here’s what’s happening in your neighbourhood:
Increased Buyer Enquiry, Especially from Melbourne Investors
With Melbourne prices still sitting well above regional averages, investors and first-time buyers are looking outward. Geelong is catching many eyes. Corio and Norlane, in particular, are viewed as high-yield opportunities due to their affordability and improving infrastructure. Buyers are calling earlier, attending more inspections, and asking sharper questions.
Strong Open Home Attendance in Lara and Norlane
Lara is benefiting from its lifestyle appeal and easy train access to both Geelong and Melbourne. Norlane, once a quiet achiever, is seeing busy Saturdays at inspections as buyers look for the "next big thing" in the north. Well-priced homes are drawing large numbers, particularly those with family-friendly layouts or renovation potential.
High Demand for Move-in Ready Homes Under $600,000
This price bracket remains the sweet spot for buyers across Corio and Norlane. Properties that are well-maintained, freshly painted, or updated (especially kitchens and bathrooms) are being snapped up quickly. Homes with multiple living areas or large backyards are especially appealing to growing families, and often receive offers within days of listing.
Increased Activity from First-Home Buyers Tapping Into Government Schemes
With the 5% deposit scheme and Victorian Homebuyer Fund gaining traction, we’re seeing more first-time buyers entering the market with confidence. Many are seeking affordability, proximity to schools and shopping centres, and potential for long-term capital growth, all of which suburbs in Geelong offer.
Low Supply Driving Competition
While demand is up, supply hasn’t quite caught up yet. This imbalance is leading to more competitive offers and, in some cases, multiple buyers vying for the same property. Sellers who present their home well and price smartly are reaping the rewards in both price and speed of sale.
Rental Market Pressure Increasing Investor Confidence
Vacancy rates across our suburbs remain low, and rental yields are strong compared to metro Melbourne. This is reinforcing buyer confidence and helping fuel more purchase activity.
If you’re considering buying or selling in the Geelong area, now’s the time to speak with your Area Specialists.
Contact us today to take advantage of market momentum before prices potentially rise.