Geelong Market Winter Update


 

The Geelong market is finally showing signs of rallying from a slight softening since mid last year.  An encouraging boost in activity in the past couple of weeks comprising an increase in buyer enquiry, a corresponding rise in sales and an influx of new homes coming on to the market in the lead up to Spring (always a strong selling period) is a good indicator of a market gaining in strength.  This sustained activity throughout Spring and into Summer ought to overcome the slight decrease in median house prices Greater Geelong experienced over the past 12 months.

A random look at 4 Geelong suburbs reveals a small drop in the median house price compared to the 2018 average.  Highton by $4,500 to $676,000, Belmont by $13,500 to $530,000, Hamlyn Heights by $7,500 to $537,500 and Corio by $5,000 to $365,000.  (Data sourced from REA).

We are confident that the market will improve in the short to medium term to redress these drops and continue its usual upward trend.

Until next week,

Nick