Geelong House Prices

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)