The Geelong real estate market has seen a dynamic week of auctions and sales, with the latest results for the week ending April 25 revealing strong activity across the region. Agents report a mix of competitive bidding and solid private treaty sales, reflecting sustained buyer demand.
Top Auction Results
Among the standout results, a four-bedroom home in Newtown sold under the hammer for $1.35 million, exceeding reserve by $50,000. Another property in Highton attracted multiple bidders, eventually selling for $980,000. In the inner suburb of Geelong West, a renovated cottage achieved $890,000.
Sales Highlights
Private sales also performed well, with a modern townhouse in South Geelong fetching $720,000 and a family home in Belmont changing hands for $850,000. Agents noted that well-presented properties in sought-after school zones continue to attract premium prices.
Market Trends
The clearance rate for the week stood at 78%, slightly up from the previous week. Buyer activity remains strong, particularly for properties priced between $700,000 and $1.2 million. Interest rate stability and limited stock are driving competition.
Suburb Performance
- Newtown: Median house price now $1.25 million, up 5% year-on-year.
- Highton: Consistent demand with multiple sales over $950,000.
- Belmont: Family-friendly appeal keeps prices stable.
Agent Insights
Local agents report a surge in first-home buyer inquiries, particularly for apartments and townhouses under $600,000. Investors are also active, focusing on rental yields in suburbs like Norlane and Corio.
Overall, the Geelong property market remains resilient, with balanced conditions favoring both buyers and sellers. The coming weeks are expected to see continued activity as spring approaches.
