Geelong’s first $1M suburbs tipped as consumers race for regional areas

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16 Nantes Street, Newtown

John Meehan in promoting his Newtown house. Image: Glenn Ferguson


Geelong might have its first million-dollar suburbs within the subsequent six months.

The suburb of Geelong is on monitor to attain a $1 million median home value, in keeping with realestate.com.au evaluation.

The analysis, which assumes a suburb’s most up-to-date quarterly value development will proceed on the similar degree for the approaching three to 6 months, forecasts the dramatic rise from $811,750 to $1.063 million subsequent yr.

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6 Mont Albert Street, Geelong, bought for $1.34 million in September.


Realestate.com.au chief economist Nerida Conisbee labelled Geelong considered one of Australia’s greatest performing housing markets.

“It has completed extremely nicely. Any regional space hooked up to Melbourne has completed nicely, not simply as a result of COVID-19, over the long run. Individuals are spreading out to regional Victoria.”

Whitford Property agent Dale Whitford mentioned Newtown was heading in the direction of $1m inside the subsequent six months. He anticipated the suburb of Geelong to take somewhat longer.

16 Nantes Road, Newtown, is listed with a $1.05m-$1.15m value information.


16 Nantes Road, Newtown, is listed with a $1.05m-$1.15m value information.


“However definitely Melbourne individuals will assist from November 8, when that pent-up demand will get down right here (when the regional border is because of open),” he mentioned.

“Possibly that can push that (Geelong) median fairly strongly as individuals are clambering to get out of Melbourne.”

Newtown, which has a $930,000 median, notched up main gross sales price as much as $5 million earlier than pandemic struck, has continued to attain excessive costs as much as September.

33 Kilgour Road, Geelong, is in the marketplace for $1.175m-$1.225m.


9 The Esplanade, Geelong, bought for $2.375 million at public sale in April.


Consumers have been flocking to Newtown for its high quality colleges and the prospect to fulfil “the romantic notion of shopping for a weatherboard interval house”, he mentioned.

“You’ve obtained youthful households coming in and regenerating the suburbs and beginning the varsity cycle.”

Ms Conisbee mentioned there was constant demand for more room and way of life areas as sellers ready to checklist extra properties.

“It does imply we’re going to see extra properties on the market, which is nice information for individuals who wish to purchase.

104 Skene Road, Newtown is listed for $1.95m-$2.1m.


10 Westcott Place, Newtown goes to public sale with $945,000 to $1.015m value hopes.


“Additionally the economic system can get again on monitor. We’ve seen elsewhere in Australia, a variety of jobs are coming again, which is constructive for actual property markets.”

Extra from information

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Ms Conisbee mentioned the idea {that a} suburb is more likely to repeat quarterly development is just not assured.

“However the motive we did it this fashion was, if you may get value development throughout a pandemic lockdown, there’s one thing constructive about your space.

“If a suburb has completed nicely when shopper confidence has been extremely low, it ought to be higher positioned now confidence is rising.”

20 Bayswater Street, Newtown, is listed for $1.55m-$1.65m.


John and Jennie Meehan are promoting up in Newtown, seeking to downsize to a Bellarine Peninsula city.

They’ve owned their home at 16 Nantes Street since 1994 and tracked its rise in worth.

It’s listed with a value vary from $1.05m to $1.15m.

The Twenties home has a northerly view to the You Yangs, whereas the property is laced with unique interval particulars, together with ornamental ceilings and timber image rails that had impressed some potential consumers, together with two from abroad.

27 The Esplanade, Geelong is listed with $4.5m-$4.9m value hopes.


“There was a rush when it first went on to the web after which one other persistently after Saturday’s advert,” she mentioned.

“We’ve been proud of the response that we’ve had.”

The area has $1 million cities alongside the Surf Coast.

Geelong’s most costly suburbs

Suburb Median home value Annual development
Newtown $930,000 13%
Rippleside $855,000 7.9%
Manifold Heights $840,000 21.7%
Geelong $811,750 12.7%
Fyansford $804,000 n.a.
Wandana Heights $800,000 14%
East Geelong $740,000 31%
Highton $720,500 5%
Geelong West $707,000 6.4%
Waurn Ponds $650,000 1.4%

Supply: realestate.com.au

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