Greater Geelong insights from Red Report
Our expert agents in Geelong & Torquay have shared their top three trends and predictions for their local market in 2017.
Top three trends
- Inner-city Geelong performing
The inner-city suburbs continue to perform best, with high demand for East Geelong, Manifold Heights, Belmont and Newtown.
- City-goers arrive
The city is seeing enormous interest from city-siders from Melbourne and Sydney looking for a lifestyle change with lower living costs.
- Period homes
Homes with period details and metal work are receiving a lot of attention from city –buyers and upsizers.
The rental market in inner-city Geelong suburbs has remained solid, however as new land estates hit the market, there’s a large supply of rental homes in the outer areas. Over the next twelve months, rentals in the outer areas are predicted to decrease. The sales market in Greater Geelong is likely to piggy-back off the strong Melbourne market and continue to grow, as families relocate from the city to be near quality schools, a great lifestyle and the amenities Geelong offers. Therefore, capital appreciation will remain solid for investors in the area.