The Geelong property market demonstrated its resilience and competitive spirit in the first week of December, with a series of successful auctions and private sales painting a picture of sustained buyer demand. The results from the week ending Friday, December 7, highlight activity across several key suburbs, offering valuable insights for both vendors and prospective purchasers navigating the local landscape.
Standout Sales and Auction Triumphs
One of the most notable transactions was the sale of a four-bedroom home at 25 Roslyn Road in Belmont. The property changed hands for a substantial $1.15 million, underscoring the continued appeal of well-located family homes in established areas. This sale is a clear indicator of the premium buyers are willing to pay for quality in sought-after neighbourhoods.
Meanwhile, in Highton, a three-bedroom unit at 4/25 Roslyn Road achieved a solid sale price of $735,000. This result points to healthy demand for more compact, lower-maintenance living options without sacrificing location. The parallel success of different property types in the same week suggests a market catering to diverse buyer needs and budgets.
Market Activity Beyond the Auction Floor
The week's activity wasn't confined to auctions alone. A significant private sale was recorded in Newtown, where a property at 25 Aberdeen Street was successfully sold. While the final price remains undisclosed, its inclusion in the weekly results signifies another important transaction contributing to the overall market momentum. These off-market or prior-to-auction sales are often a sign of a efficient market where well-priced properties attract quick interest.
Further demonstrating the breadth of the market, a commercial property at 2/25 Mackey Street in North Geelong also found a new owner. This sale highlights that investor and business interest remains a key component of the broader Geelong property scene, contributing to economic activity and diversification.
What These Results Mean for Geelong
The collective results from early December reinforce several key trends in the Geelong real estate market. Firstly, there is evident strong demand for housing in central and established suburbs like Belmont and Highton, where amenities, schools, and transport links add significant value. The million-dollar-plus sale in Belmont is particularly telling of this trend.
Secondly, the market is showing robust activity across multiple segments, from family homes and units to commercial assets. This diversity suggests a balanced and active market rather than one driven by a single type of buyer. For sellers, these results indicate that presenting a property well and pricing it appropriately in line with market expectations can yield successful outcomes, even in the lead-up to the holiday season.
For buyers, the continued competition, as evidenced by successful auctions and swift private sales, means being prepared and having finance in order is more crucial than ever. The Geelong property market is clearly not in a lull, with quality stock attracting serious attention and commanding strong prices as 2023 draws to a close.
