The Geelong property market has delivered another impressive performance, with auction clearance rates hitting 80 percent during the week ending November 22. This robust result underscores the continued strength of the regional Victorian market despite broader economic headwinds.
Strong Auction Results Across Geelong Suburbs
The standout performer was a four-bedroom home at 15 Moolap Street, Newtown, which sold under the hammer for $1.305 million. The property attracted significant interest from multiple bidders, ultimately exceeding price expectations in a competitive auction environment.
Another notable sale occurred at 24 Roslyn Road, Manifold Heights, where a three-bedroom period home changed hands for $1.15 million. The property's character features and prime location contributed to its strong sale price, demonstrating continued buyer appetite for quality homes in established suburbs.
In Highton, 10 Tarcoola Drive proved popular with buyers, selling for $1.01 million. The sale adds to the growing number of million-dollar transactions occurring across Geelong's mid-tier suburbs, indicating broadening market strength beyond traditional premium areas.
Private Sales Show Market Depth
Beyond the auction market, private treaty sales revealed substantial buyer activity across multiple price points. A Grovedale property at 4/59 Torquay Road sold for $650,000, representing solid value in the more affordable segment of the market.
The week's highest reported private sale was 2-4 Aphrasia Street, Newtown, which transacted for $2.1 million. This significant sale involved multiple properties and highlights investor confidence in Geelong's premium real estate offerings.
Other notable private sales included properties in Whittington ($570,000), Herne Hill ($735,000), and Marshall ($630,000), demonstrating activity across diverse geographic areas and price brackets within the Greater Geelong region.
Market Outlook and Analysis
The consistent 80 percent clearance rate indicates sustained buyer demand that continues to outpace available supply in the Geelong property market. Local real estate professionals report strong inquiry levels from both local upgraders and Melbourne-based buyers seeking regional lifestyle opportunities.
Market analysts note that Geelong's relative affordability compared to metropolitan Melbourne, combined with infrastructure investments and lifestyle appeal, continues to drive property price growth. The diversity of sales from affordable units to premium homes suggests a broadly based market rather than one driven solely by top-end activity.
As the spring selling season progresses, all indicators point toward continued strength in Geelong's real estate market. The consistent performance across multiple suburbs and property types provides confidence to both sellers and buyers participating in this dynamic regional market.
