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Area Profile – Geelong Victoria
Area Profile Geelong Victoria

In this latest property update, we narrow in on a property hotspot you might not have had on your radar – Geelong, Victoria.

It might not have the glitz of the Gold Coast or Sunshine Coast in Queensland’s South-East, but Geelong is a regional centre that is starting to shine very brightly indeed.

With above-average population growth, significant infrastructure projects and a number of suburbs with an affordable median house price, Geelong is attracting home owners and investors alike.

Find out more about this thriving regional city in this area profile by our own Kate Hill.

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Hello, everyone out there.

How are you all doing?

I’m Kate, bringing you the best unbiased, honest content on property along with fantastic hints and tips.

Today, stay tuned for a little area featurette on the city of Geelong.

If you imagine some of the fabulous regional places around Australia that people often move to, you would no doubt picture locales near the ocean, and you would be mostly right.

In fact, the two fastest growing regional areas in the nation are, of course, the Gold Coast and the Sunshine Coast in Southeast Queensland.

But here’s the thing.

The third place getter doesn’t have the profile of either of these places, and it is hardly where most people would spend their holidays either.

Yet it, this major region, is pulling the lion’s share of new migrants either from overseas or from somewhere else around the country.

And that place that I am talking about is Geelong, technically in regional Victoria, which recorded net population growth of two point two percent in the twenty two to twenty three financial year, double the result for Victoria as a whole.

So when did little old Geelong, which is actually not so little anymore given population is nearly three hundred thousand, become such a hot and popular place to live and invest?

Well, this did not happen overnight.

There’s plenty more gas left in its tank too, I think.

Geelong has a rapidly growing economy with billions of dollars in recent infrastructure expenditure as well as billions more in other major investments in the years ahead.

Its population and gross regional product growth is well above the national average, and there are forecasts that its population will hit half a million residents by twenty forty seven, which is probably a little on the conservative side too.

Just think about that all in Geelong.

There are also major urban expansion plans that are going on at to cater for about a hundred and ten thousand new residents and create some thirty five thousand jobs.

Plus, another thing that I love about this area is that it has a varied a very solid variety of employment industries, which make it a very stable area for property investment.

Having a diverse economy and industry is really vital for regional property investment because if, one of those industries has a little wobble, say manufacturing or tourism, then there’s plenty of other industries that will provide employment opportunities for residents.

Right?

It doesn’t all just fall over.

Council data shows that there are billions being spent on major developments across around hundred and forty seven projects that are either on the planning table, under construction, or have been recently completed.

There is so much going on in Geelong that I could talk and write thousands of words on this, topic rather than this very succinct overview that you’re getting here because of all those attributes.

Another exciting thing about Geelong is the fact that it still has more than a dozen suburbs that actually have a median house price of around seven hundred thousand dollars, which is a more affordable price point for many home buyers and investors than, say, Melbourne and most definitely Sydney.

Many of the suburbs also have a very, very low vacancy rate that underpin potential cash flow and yields for those savvy investors as well.

As I mentioned at the outset, there are thousands of people moving to Geelong with these lower priced property opportunities part of the reason why.

These lower buy in prices while also being within commutable distance to Melbourne are seeing more and more young people move out of the city and into Geelong so that they can achieve their dream of home ownership.

Now, of course, Geelong’s current long standing residents have known about its many charms for many a year, but now we have a huge cohort of people who are learning about those two.

Geelong is just one of a number of different major regional and urban areas where we are helping our clients purchase at present, which all really have a significant upside potential as well as more affordable price points.

So I will keep you posted on all things property from around Australia as our year progresses.

Don’t forget to hit the little like and subscribe button if you are enjoying the free content.

And I will see you all again very soon.

Bye.

Hello, everyone out there.

How are you all doing?

I’m Kate, bringing you the best unbiased, honest content on property along with fantastic hints and tips.

Today, stay tuned for a little area featurette on the city of Geelong.

If you imagine some of the fabulous regional places around Australia that people often move to, you would no doubt picture locales near the ocean, and you would be mostly right.

In fact, the two fastest growing regional areas in the nation are, of course, the Gold Coast and the Sunshine Coast in Southeast Queensland.

But here’s the thing.

The third place getter doesn’t have the profile of either of these places, and it is hardly where most people would spend their holidays either.

Yet it, this major region, is pulling the lion’s share of new migrants either from overseas or from somewhere else around the country.

And that place that I am talking about is Geelong, technically in regional Victoria, which recorded net population growth of two point two percent in the twenty two to twenty three financial year, double the result for Victoria as a whole.

So when did little old Geelong, which is actually not so little anymore given population is nearly three hundred thousand, become such a hot and popular place to live and invest?

Well, this did not happen overnight.

There’s plenty more gas left in its tank too, I think.

Geelong has a rapidly growing economy with billions of dollars in recent infrastructure expenditure as well as billions more in other major investments in the years ahead.

Its population and gross regional product growth is well above the national average, and there are forecasts that its population will hit half a million residents by twenty forty seven, which is probably a little on the conservative side too.

Just think about that all in Geelong.

There are also major urban expansion plans that are going on at to cater for about a hundred and ten thousand new residents and create some thirty five thousand jobs.

Plus, another thing that I love about this area is that it has a varied a very solid variety of employment industries, which make it a very stable area for property investment.

Having a diverse economy and industry is really vital for regional property investment because if, one of those industries has a little wobble, say manufacturing or tourism, then there’s plenty of other industries that will provide employment opportunities for residents.

Right?

It doesn’t all just fall over.

Council data shows that there are billions being spent on major developments across around hundred and forty seven projects that are either on the planning table, under construction, or have been recently completed.

There is so much going on in Geelong that I could talk and write thousands of words on this, topic rather than this very succinct overview that you’re getting here because of all those attributes.

Another exciting thing about Geelong is the fact that it still has more than a dozen suburbs that actually have a median house price of around seven hundred thousand dollars, which is a more affordable price point for many home buyers and investors than, say, Melbourne and most definitely Sydney.

Many of the suburbs also have a very, very low vacancy rate that underpin potential cash flow and yields for those savvy investors as well.

As I mentioned at the outset, there are thousands of people moving to Geelong with these lower priced property opportunities part of the reason why.

These lower buy in prices while also being within commutable distance to Melbourne are seeing more and more young people move out of the city and into Geelong so that they can achieve their dream of home ownership.

Now, of course, Geelong’s current long standing residents have known about its many charms for many a year, but now we have a huge cohort of people who are learning about those two.

Geelong is just one of a number of different major regional and urban areas where we are helping our clients purchase at present, which all really have a significant upside potential as well as more affordable price points.

So I will keep you posted on all things property from around Australia as our year progresses.

Don’t forget to hit the little like and subscribe button if you are enjoying the free content.

And I will see you all again very soon.

Bye.

DISCLAIMER: No Legal, Financial & Taxation Advice

The Listener acknowledges and agrees that:

  • Any information provided by us is provided as general information and for general information purposes only;
  • We have not taken the Listeners’ personal and financial circumstances into account when providing information;
  • We must not and have not provided legal, financial or taxation advice to the Listener;
  • The information provided must be verified by the Listener before the Listener acting or relies on the information by an independent professional advisor, including a legal, financial, taxation advisor and the Listener’s accountant;
  • The information may not be suitable or applicable to the Listener’s circumstances;
  • We do not hold an Australian Financial Services Licence as defined by section 9 of the Corporations Act 2001 (Cth). We are not authorised to provide financial services to the Listener and have not provided financial services to the Listener.

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