Geelong Market Snapshot – Feb 23

Our auction of 26 Belfast Street, Newtown last weekend provided a good snapshot of the Geelong market. The property sold and we had several parties who missed out and are still looking for their dream home. Attendances at our open homes have been climbing since the start of the year and according to the REA, buyer enquiry is also at higher levels, up 67% in January 2023 compared to January 2020 (pre-pandemic).

It seems consecutive interest rate rises over the past 12 months are not dampening people’s enthusiasm for property and home ownership is still the major life goal for most of us.

We have had consistently strong results in defiance of the gloomy media outlook and our team are committed to delivering the best results for our vendors. We expect that Geelong will continue to buck national trends and remain a strong and stable property market.

Until next week,

Nick Lord (Director)