It’s been a challenging 2020 to date for obvious reasons, but the Geelong market has shown remarkable resilience, defying trends in the capital cities and undermining gloomy forecasts by the mainstream media who have been predicting the property market bubble would burst for the past 20 years. (It hasn’t).
Here are the median house statistics from Corelogic on 5 randomly chosen Geelong suburbs, 2 in the south, 2 in the north, and one each on the east and west. The results are encouraging.
Median House Price Comparison
June 2019 July 2020
$682,000 $700,000 Highton
$530,000 $565,000 Belmont
$435,000 $455,000 Newcomb
$675,000 $690,000 Geelong West
$360,000 $360,000 Corio
$535,000 $545,000 Hamlyn Heights
Small to significant increases, and in the case of Corio, static. A very good sign for Geelong as we forge ahead in a post Covid world.
Until next week,
Nick Lord (Director)