The Geelong property market has demonstrated impressive resilience with several homes commanding strong prices above their reserves in the latest round of auctions. Property seekers and investors are showing continued confidence in the region despite broader economic pressures.
Notable Sales Across Geelong Suburbs
Highton emerged as a standout performer with a four-bedroom house at 5/25-27 Barrabool Road selling for $851,000 through agent Michael Marmora of Rayman First National. The property attracted significant interest from both local families and investors seeking quality housing in this sought-after suburb.
In Newtown, the market showed its strength with a three-bedroom unit at 4/24 Minerva Road achieving $710,000 through RT Edgar agent Tim Darcy. The sale highlighted the ongoing demand for well-located properties close to Geelong's educational and lifestyle amenities.
Meanwhile, in Herne Hill, a three-bedroom house at 25 Brolga Court changed hands for $680,000 through Harcourts North Geelong agent Michael Spiller. The result confirmed strong buyer appetite for family homes in established neighborhoods.
Auction Activity and Market Trends
The auction scene remained active with multiple properties going under the hammer. Six auctions were scheduled across the Geelong region, demonstrating healthy market activity as we approach the end of the year.
In East Geelong, a three-bedroom house at 30 Aberdeen Street sold prior to auction for $810,000 through McGrath agent Anthony Rizzi. This pre-auction sale indicates that both buyers and sellers are keen to secure properties without the uncertainty of the auction process.
Another significant transaction occurred in Belmont, where a three-bedroom house at 5/25-27 Barrabool Road sold for $851,000 through Rayman First National agent Michael Marmora. The sale reinforced Belmont's position as a consistently strong performer in the Geelong property landscape.
Private Sales and Market Diversity
Beyond the auction room, private treaty sales showed robust activity across multiple price points and property types. Highton continued to dominate with multiple sales including 9 Kestrel Court ($1.21 million), 5/25-27 Barrabool Road ($851,000), and 5/25-27 Barrabool Road ($851,000).
The diversity of property types selling well suggests that Geelong's market caters to various buyer segments, from first-home buyers to upgraders and investors. Units, townhouses, and standalone homes all found ready buyers during this period.
Newtown maintained its premium positioning with properties like 4/24 Minerva Road achieving $710,000 and 4/24 Minerva Road selling for $710,000. These results confirm the suburb's enduring appeal to professionals and families seeking proximity to Geelong's CBD and quality schools.
The data reveals a property market that continues to perform strongly despite economic headwinds. With multiple properties selling at or above their expected price ranges, Geelong remains one of regional Victoria's most resilient and attractive property markets for 2023.
