Geelong’s northern property market gathers momentum

March 23, 2018 by  

The property market of northern Geelong has been making considerable progress, figures show.

CoreLogic data shows that the property market in the north of Geelong made little progress during 2016, but statistics collected by the same organisation indicate that the area’s property market jumped forward last year. Brochure printing can benefit from local economic growth, and in Geelong, there is scope for further progress because old housing may be developed.

David Cortous is a property agent in Geelong, and told News.com.au:

“We are seeing a lot of people picking up properties for development and there is no heritage through that area making it easier. North Geelong is still very central to the CBD and it is quite cheap real estate … there will probably be a similar growth pattern again this year.”

The average house price within North Geelong is almost $420,000. Meanwhile, local house sales in 2017 were approximately 40% up on the previous year.

An estate in the golf course district has played a role in the development of the property market. North Geelong was once a suburb populated by the working class, but the change in the median property price has begun to alter the character of the area.

In the past, house buyers consistently preferred to opt for residences in the southern sector of Geelong. The situation is now more complex than that due to the shift in behaviour.

Comments