GEELONG – BELLARINE PENINSULA – SURF COAST
Geelong has proven to be one of the most resilient towns in this country having suffered the unfortunate demise of Ford and Alcoa, the relocation of Target and the near closure of Shell. Now, it is the fastest growing regional town in Australia.
These companies have been replaced by large retailers (Cotton On), universities, hospitals, and the relocation of head offices such as NDIS, TAC and Worksafe.
Having grown up on a property 50 minutes from Geelong and spending holidays at Lorne and Barwon Heads, the area is close to my heart.
Geelong, the Bellarine Peninsula and the Surf Coast are bucking the trend in the property arena and witnessing strong growth in almost all areas.
From Torquay to Lorne and Barwon Heads to Portarlington demand is high for houses, lifestyle properties and investment properties.
Suburbs such as Manifold Heights have experienced incredible growth of 9.3% over a 10 year period with seven other suburbs doubling their median price within the same time frame. Townships such as Barwon Heads also doubled its median price over the decade from $447,000 to an impressive $935,000.
There are many reasons for the area tracking so well, amongst them the proximity to Melbourne with regular trains from 5 stations, job and business opportunities, exceptional schools, new and refurbished hospitals, beautiful beaches, world class golf courses, sound investment opportunities, wineries a plenty, minimal traffic congestion and of course the Geelong Cats.
First home buyers have a smorgasbord of choice if they wish to buy below the $600,000 ceiling so as to take advantage of the government incentives. You can readily purchase a three bedroom home in any amount of suburbs for between $500,000 and $600,000.
With a further 100,000 people due to accommodate the growth corridors of North Geelong and West Geelong alone, and major development towards Torquay, Ocean Grove, Point Lonsdale St Leonards and Fyansford the entire Geelong region is expanding with inner precincts becoming more popular and pushing prices up regardless of what capital cities around the nation are experiencing.
Indications are that the majority of suburbs and towns throughout Geelong, the Bellarine Peninsula and the Surf Coast regions will double in value over the next 8-10 years.