How much Geelong house prices have risen in 2025

Geelong is attracting strong investor interest that’s helped push home prices in September. Picture: Alan Barber

Nearly $10,000 has been added to the Geelong’s median home price this year as the market recovery continued in September, new data shows.

New PropTrack Home Price Index figures confirm Geelong’s home prices moved higher in September, but have a long way to go to recover to the last peak in 2022.

The report reveals .22 per cent growth for the month contributed to a 1.26 per cent annual rise.

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This represents annual price growth of almost $9350 and pushed Geelong’s median dwelling value – combining both houses and units – up to $742,000 in September.

Geelong’s median value for a house climbed 1.34 per cent in the year to $782,000, while 1.22 per cent annual growth pushed the city’s median unit value to $563,000.

But the region has to recover 9 per cent in value to match the last peak in the market in 2022, which calculates at about $66,000 based on the median dwelling price.

PropTrack senior economist Eleanor Creagh said the housing market remains on a firm upward trajectory this spring.

PropTrack senior economist Eleanor Creagh said renewed confidence was unpinning price growth.

“The combination of increased borrowing capacities and lower borrowing costs, stronger buyer

confidence and renewed competition is underpinning a broad uplift, while momentum is shifting,” Ms Creagh said.

“While affordability pressures remain, this year’s series of interest rate cuts, improved sentiment, and the October expansion of the Home Guarantee Scheme, are expected to keep upward pressure on home prices in the months ahead,” Ms Creagh said.

“With stock on market constrained and new supply challenged, demand-side stimulus will intensify competition.”

Ms Creagh has said Geelong has added benefits to homebuyers and investors of comparative affordability, lifestyle appeal and hybrid work flexibility.

Barry Plant chief executive officer Lisa Pennell said falling interest rates, widening of the First Home Guarantee and better conditions for investors was feeding demand for homes.

“First-home buyers are being driven by the incentive that’s on offer and investors are being driven by fact the market is so undercooked compared to the other states.

Barry Plant chief executive officer Lisa Pennell said investors, particularly from interstate, were seeing the opportunity for capital growth in Victoria.

“It is undercooked because the legislation down here caused a lot of investors to leave the market – the compliance costs and obviously land taxes.

“That is now reversing because investors are seeing there is a huge opportunity for capital growth if they can sustain in that interim period.”

Hayeswinckle agent Matthew Roberts said investors and buyers accessing the low-deposit government guarantee were incredibly busy across Geelong, but people looking in the bridesmaid suburbs are set to reap the rewards.

“I’ve never seen so many investors in the last three months,” he said.

“If you’re in a bridesmaid suburb, like on the fringe of East Geelong – where there is no stock – the big winners are going to be the next suburbs over, like Newcomb or Thomson.

“Grovedale is unbelievable at the moment and the reason being because there’s no stock in Highton and Belmont. You’ve got all these buyers that have the budget to buy in Belmont, and they see similar value in Grovedale.

“Grovedale has been massive over the last three months and that’s just a product of the tight stock situation.”

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