Crunching the Numbers
This month marks one year since the world changed irrevocably and some of the freedoms we had always taken for granted were suddenly beyond reach. The uncertainty back then had us all wondering how we could adapt and what the immediate future would look like for real estate.
Happily real estate here in Geelong is thriving 12 months on and all it takes is a quick look at the change in median house prices to see how well we overcame the challenges of 2020.
A few random searches - Belmont up 9.3%, Highton up 6.4%, Newtown up 3.9%, Geelong West up 10.6%, Hamlyn Heights up 1.8%, Newcomb up 6.7%, Whittington up 5.6%, Corio up 9.8%, Norlane up 6.7%. None of the random suburbs selected showed a downturn in price levels over the past 12 months and we anticipate that this growth will be even stronger during 2021, based on current levels of strong demand.
These statistics were sourced from realestate.com.au. The suburb information reports are free and easily accessible from the link below.
Until next week,
Nick Lord (Director)