Market Overview
Nationally, property values in May rose 0.39%, marking five straight months of growth, supported by two RBA rate cuts and improving buyer sentiment
Meanwhile, regional markets—including Greater Geelong—are benefiting from tighter supply, high rental demand, and increasing investor interest.
Geelong Snapshot:
Propertyology forecasts flat to slight declines in 2025 (between –2% and +1%), reflecting elevated listings and reduced transactions
Vacancy rates remain tight and rental returns strong in northern suburbs like Corio and Norlane
Infrastructure & New Developments
Corio
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Cedar Woods residential estate: A new 400‑home development on Plantation Road, adjacent to Sutcliffe Reserve. The estate is designed for families and first-home buyers, with a mix of single- and double-storey homes. Settlement is scheduled for January 2026
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$50M infill housing proposal: Plans for diverse mixes of single- and double-storey lots (100–449 m²) are progressing, directly supporting the Corio Norlane Structure Plan’s vision for sustainable growth.
Norlane
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Wathaurong Aboriginal Co-operative hub: Council has approved a modern multi-use community facility at 60–62 Morgan Street, featuring a function centre and improved parking access. This is a culturally significant upgrade for local First Nations communities
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Industrial expansion: The nearby Corio industrial hub continues to grow, with prime transport connections drawing tenants like Velocity Truck Centres to newly built warehouses
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Ongoing public housing renewal: Homes Victoria has been selling renovated ex‑public housing homes in Norlane and Corio, enabling quick capital gains and large block sizes
Lara
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Kings Funerals development: A proposed $4 million funeral parlour and chapel has been submitted for Forest Road South. The facility, including 150 parking spaces and capacity for 500 visitors, fills a critical community services gap
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Land rezoning: Around 114 ha of farming land south of Lara centre and train station is up for rezoning—potentially unlocking new residential suburb expansion
Geelong-Wide Projects
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Regional rail upgrades: Duplication of the Geelong‑to‑Waurn Ponds rail line is complete, offering more frequent train services—beneficial for Lara commuters.
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Convention & Exhibition Centre: A new CBD waterfront development featuring a 1,000‑seat venue and 200‑room hotel is well underway.
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Council State Budget bid: Greater Geelong Council is requesting funding for fast rail to Melbourne, road and trail upgrades—projects that will underpin all suburbs’ liveability and connectivity.
These align with “Plan Victoria” objectives, which target 128,600 additional homes in Greater Geelong by 2051, with 60% as urban infil.
What We’re Seeing on the Ground
Increased Buyer Enquiry & Investor Moves
With Melbourne prices still high, investors and first-home buyers are turning to Geelong, especially Corio, Norlane, and Lara—seen as prime yield zones. Buyer inquiries, inspections, and serious offers are all on the rise.
Strong Open Home Turnouts
Weekends see packed inspections in Lara and Norlane, driven by lifestyle appeal, train connectivity, and the search for family-friendly or renovator-ready homes.
Demand for Move-In Ready Homes Under $600K
Well-presented homes in this price range—especially modernised kitchens/bathrooms or spacious yards—are selling fast, often attracting offers within days.
First-Home Buyers Leveraging Government Schemes
Interest in the 5 % deposit initiative and Homebuyer Fund is growing. Buyers prioritise affordability, school proximity, and growth potential—all strengths of Corio, Norlane, Lara.
Low Supply Fueling Competition
Listings remain below demand. Quality presentation and smart pricing are key, as multiple buyers compete.
Rental Market Strength Supporting Investment
Vacancy rates are very low in the north, with solid yields, cementing investor interest.
Final Word
Geelong, especially Corio, Norlane & Lara, is holding its ground in June. With strong buyer interest, tight rental markets, new developments, and anticipated rate cuts, now is a strategic time to buy or sell.
If you're ready to act, speak to our local team at Area Specialist Geelong City!