And Some More Good News!
As our rates of infection continue to decline and the May 11 deadline approaches to signify the end of Victoria’s state of emergency, Geelong buyers and sellers are starting to re-emerge in greater numbers.
We are experiencing a busy period with new properties ready for marketing and more one on one inspections being sought in the last couple of weeks.
This is good news for the Geelong market as consumer confidence increases on the back of historically low interest rates and the affordability factor compared to our capital cities.
Geelong has traditionally been insulated from the trends seen in Melbourne for those reasons of affordability, lifestyle and proximity to Melbourne (for commuters) and so pricing tends to hold firm. As one of the best performing regional markets in the whole of Australia, Geelong is underpinned by strong employment opportunities in health, education, construction and government and it will continue to attract new residents and investment in the short term. Any perceived softening in the market ought to reverse quickly in a post-Covid environment with pricing expected to resume the strong upward trend it was promising early in the year.
Until next week,
Nick Lord (Director)