Geelong Market Update

We are halfway through Spring already and marching very quickly towards what is shaping up to be a very hot summer. Spring racing is well underway with a public holiday next week for the Geelong Cup and Term 4 of the school year having commenced with VCE students only a couple of
weeks away from finishing their school careers permanently.

There has been a lot of talking down of the real estate market in the media which is creating a perception of doom and gloom which in our experience is totally unwarranted. The market has certainly changed, in that there has been a stabilising of activity from the frenetic pace and rapid upward price movement which typified so much of 2017, but we see this as simply a balancing out to more historically normal activity. There are still plenty of buyers actively looking to purchase, attendances at open houses are still strong and our sales rates have not seen any significant change over the past 6 months.

The Geelong region has had the strongest growth of any regional centre in Australia over the 12 months to March 2018 with a 10% increase in the median house price. Our affordability, proximity to Melbourne and the beautiful beaches of the Bellarine Peninsula and the Surf Coast still makes
Geelong one of the most desirable places to live.

If you are thinking of selling, don’t be influenced by negative media. Talk to one of our experienced team to find our what your property is worth.

Until next week,
Nick Lord