Biggest Geelong auction weekend signals recovery

The biggest weekend for auctions in Geelong in 2025 is a both a sign of an improving housing market and of people’s desire to have property moves locked in by Christmas.

There are 25 properties scheduled to be auctioned across the region on Saturday, from a renovated inner-east suburban house priced under $600,000 to a striking bluestone home on a rural lifestyle Barwon River-front property at Winchelsea.

There are five homes up for auction in Belmont, along with three offered each in Geelong West and Newtown.

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But it’s two homes priced under $600,000 in Geelong’s inner east that captured the most attention.

A renovated three-bedroom house at 38 Charles St, Newcomb is offered with price hopes from $545,000 to $595,000.

The weatherboard house on a 545sq m block has an updated kitchen and bathroom, but the garage is converted to a shed.

Hayeswinckle East Geelong agent Tiffany Simpson said the house had caught the eye of lots of first-time buyers and investors.

First-home buyers and potential developers are among 80 groups inspecting a 837sq m property at 74 St Albans Rd, Thomson.

There are properties with lower price hopes in St Albans Park, Belmont and Lara.

McGrath Geelong agent David Cortous said more people were bidding, while more sellers were choosing to sell at auction as conditions improve.

“There’s depth in the auctions now, we’re seeing multiple buyers across properties, especially in price brackets below $1m.

“We’ve got first-time buyers battling out in he same price bracket with that regional investor market. That’s around $650,000 to $850,000 but is being driven from interstate.”

Geelong buyers advocate Tony Slack said the window is closing pretty quickly on how many weekends it is to close a deal and be in by Christmas, but buyers were still being watchful.

“I feel there is still a little bit of reluctance unless there’s a reasonably high level of other bidders before people their hands out of their pocket,” he said.

Mr Slack said there also weren’t many truly runaway results.

“There is no knockout bidding. I think with the two rate cuts that we’ve had and the more willingness of banks to lend money, there’s no doubt that there’s more buyers out there.

“Twelve to 18 months ago, banks were saying no, you’re going to have be subject to finance for anything you want to try to buy.

“Now there is certainly a lot more flexibility with the banks to let you go to auction and be in a position to bid.”

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