Geelong Property Prices Hit $700,000: What Buyers Must Know Now

Geelong's median house price has risen to $685,000, just shy of the $700,000 mark, according to recent data from the Real Estate Institute of Victoria.

This surge in prices matters now because it reflects a broader trend of growth in the region, driven by a combination of factors including the city's revitalised CBD, the expansion of the Armstrong Creek estate, and the enduring appeal of the Surf Coast lifestyle. As Melbourne's commuter belt continues to expand, Geelong is becoming an increasingly attractive option for buyers priced out of the Melbourne market.

In Geelong, specific suburbs like Highton and Belmont are experiencing significant growth, with properties on streets like Scotchmans Road and Ryrie Street in high demand. The Geelong Waterfront, with its picturesque views of Corio Bay, is also a major drawcard, while organisations like the City of Greater Geelong and the Geelong Regional Alliance are working to promote the city's potential for new residents and businesses. The Deakin University campus, a major employer in the region, is another factor contributing to the area's appeal.

According to data from the Australian Bureau of Statistics, the median house price in Geelong has increased by 10.2% over the past 12 months, with the June 2026 quarter seeing a 2.5% rise in prices. This growth is outpacing the statewide average, with Victoria's median house price sitting at around $680,000. On the Surf Coast, towns like Torquay and Jan Juc are experiencing significant price growth, with the median house price in Torquay now exceeding $1.2 million.

Market Trends and Outlook

So what do buyers need to know now? With prices rising rapidly, it's essential to do thorough research and seek advice from local experts. The Geelong Advertiser's recent report on the city's top growth suburbs highlights the importance of looking beyond the median price to understand the nuances of the local market. Buyers should also be aware of initiatives like the Victorian Government's $150 million Geelong City Deal, which aims to stimulate economic growth and development in the region.

In practical terms, buyers should be prepared to act quickly when they find a property that meets their needs, as competition for homes in sought-after suburbs is fierce. They should also consider factors like transport links, schools, and local amenities when evaluating the potential of a property. With the market showing no signs of slowing, now is the time for buyers to get informed and get ready to make their move in the Geelong property market.

This article is general information only and is not personal financial or investment advice. Consider your own circumstances and seek licensed professional advice before making financial decisions.