The Geelong property market has started the new year with notable activity, demonstrating resilience and strong buyer interest across several key suburbs. The week ending January 17 saw a mix of auction successes and private sales, providing an early snapshot of 2024's real estate landscape in the region.
Auction Action and Clearance Rates
One of the standout results was the successful auction of a four-bedroom home at 11 Kookaburra Court in Armstrong Creek. The property sold under the hammer for $881,000, a strong result that set a positive tone for the week. The auction was conducted by agent Tom Butters from Ray White Armstrong Creek, attracting competitive bidding from interested parties.
This sale in Armstrong Creek highlights the continued demand in this growth corridor, which remains a popular choice for families and investors alike. The result indicates that well-presented homes in established newer estates are still commanding significant buyer attention and solid prices.
Private Treaty Sales Across the Region
Beyond the auction room, private sales also contributed to the week's turnover. In the northern Geelong suburb of Bell Park, a three-bedroom house at 25 Banksia Street changed hands. The property sold for $590,000, with the transaction handled by Harcourts North Geelong.
Further south, in the coastal area of Torquay, a notable sale was recorded at 48 Zeally Bay Road. This property fetched $1.55 million, showcasing the enduring premium attached to sought-after coastal addresses. The sale was managed by McGrath Estate Agents.
These varied results, from the more affordable bracket in Bell Park to the million-dollar sale in Torquay, illustrate the breadth of the Geelong market and the different buyer segments active at the start of the year.
What This Means for Geelong's 2024 Market
The activity in the third week of January suggests that buyer appetite has carried over from the end of 2023. While it's still early days, the successful auction and several private sales point to a market that is finding its footing with a degree of confidence.
The strong result in Armstrong Creek, in particular, reinforces the suburb's status as a key performer in the regional market. The sale at 11 Kookaburra Court demonstrates that buyers are willing to commit significant funds to secure quality homes in master-planned communities.
Agents and industry observers will be watching closely to see if this initial momentum continues as listing volumes typically increase towards the end of January and into February. The early data provides a cautiously optimistic signal for vendors considering entering the market in the coming weeks.
For buyers, the activity indicates that competition remains for well-located and well-presented properties, meaning preparation and decisiveness are likely to be important factors for success in the current climate.
