It’s a city that boasts a backdrop of famous beaches and historic charm, however, Geelong offers much more than a pretty face. Namely, the key ingredients required for successful property investment. Here’s why.
In the past, Geelong was often dismissed as an unremarkable city resting in the shadow of Melbourne’s fame. However, in recent times exciting growth has seen Geelong flourish, to take a solid place among leaders in the Victorian and even national property market.
Where is Geelong?
Geelong sits 75km southwest of Melbourne, which equates to a 1 hour commute into Victoria’s capital by train, and approximately 1 hour and 10 minutes by car. Considering the lifestyle benefits along with the much lower median house and unit prices, that’s not too shabby, especially given the equivalent commutes around Melbourne’s capital city arch nemesis Sydney.
What is it which has transformed Geelong into such an attractive market?
Independent research is showing an economic transformation facilitated through a health care industry boom which is leading the way for change. Currently Victoria’s second largest city behind Melbourne, the population for Greater Geelong is set to rise to 325,779, between now and 2036. This growth will then compound, delivering an expected 100% + from the current population numbers of today by 2050. Combine that with an unrivalled coastal lifestyle, strong investment in infrastructure, and a projected capital growth of up to 8%* over the next five years, you now have the recipe for a prime location to investors.
Deakin’s Carbon Nexus research centre will create jobs
Here are six reasons why we believe you should consider investing in Geelong:
- Geelong is a totally self-contained city, with top universities, hospitals, rail, air and road links and leisure facilities, all of which are set for further expansion. The city has an illustrious history of being rich in goldfields in the 1800s. however being a one horse town and reliance on mining is a thing of the past, with a prosperous diversified economy not just on the cards, but already in play. Manufacturing alone for example now extends to; Chemicals and Refining, Engineering, Food and Agribusiness, Metal, Fibre and Textiles, and Timber Processing according to The Geelong Manufacturing Council.
- Jobs growth is soaring, with emphasis on healthcare, tech and tourism. This is in part facilitated through the relocation of government agencies to Geelong. The funding has been provided to build the health, education, agriculture and tourism industries adding thousands of more new jobs to the city.
- Investments position Geelong as a future leader across an array of industries, with an estimated $178 million to be invested in the region over a 20-year period.
- Geelong offers good-value, affordable housing, especially compared with Melbourne. The market is projected to have an upward shift across the coming years due to the estimated population growth. Based on the last 5 years alone, Geelong has experienced a compound capital growth level of 8.5% per year. The current median price sits at $722,500 for a house, and $547,500 for apartments. The median rent is $410 for houses and $380 for apartments. These numbers differ accordingly to the suburb in question of course, and generally speaking the price lowers the further away you get from the Geelong coastline. Note that this information is correct as of October 2019.
- Global interest in Geelong as a hub of innovation is on the rise, with an investment of $70 million into Deakin’s Carbon Nexus research.
- World-class tourist attractions sit on the doorstep of Geelong, including the Great Ocean Road, Bells Beach and the 12 Apostles.
For those looking for a comprehensive guide on Geelong’s appeal for property investors, you can find out all you need to know in property investment experts DPN’s Geelong research report: Why Invest in Geelong
You then have the option to contact DPN for investment opportunities in the Geelong region.
*8% in the Geelong suburb of Armstrong Creek. With reference to independent research sources including RESIDEXTM Core Logic and Australian Government agencies.
It’s a city that boasts a backdrop of famous beaches and historic charm, however, Geelong offers much more than a pretty face. Namely, the key ingredients required for successful property investment. Here’s why.
In the past, Geelong was often dismissed as an unremarkable city resting in the shadow of Melbourne’s fame. However, in recent times exciting growth has seen Geelong flourish, to take a solid place among leaders in the Victorian and even national property market.
Where is Geelong?
Geelong sits 75km southwest of Melbourne, which equates to a 1 hour commute into Victoria’s capital by train, and approximately 1 hour and 10 minutes by car. Considering the lifestyle benefits along with the much lower median house and unit prices, that’s not too shabby, especially given the equivalent commutes around Melbourne’s capital city arch nemesis Sydney.
What is it which has transformed Geelong into such an attractive market?
Independent research is showing an economic transformation facilitated through a health care industry boom which is leading the way for change. Currently Victoria’s second largest city behind Melbourne, the population for Greater Geelong is set to rise to 325,779, between now and 2036. This growth will then compound, delivering an expected 100% + from the current population numbers of today by 2050. Combine that with an unrivalled coastal lifestyle, strong investment in infrastructure, and a projected capital growth of up to 8%* over the next five years, you now have the recipe for a prime location to investors.
Deakin’s Carbon Nexus research centre will create jobs
Here are six reasons why we believe you should consider investing in Geelong:
- Geelong is a totally self-contained city, with top universities, hospitals, rail, air and road links and leisure facilities, all of which are set for further expansion. The city has an illustrious history of being rich in goldfields in the 1800s. however being a one horse town and reliance on mining is a thing of the past, with a prosperous diversified economy not just on the cards, but already in play. Manufacturing alone for example now extends to; Chemicals and Refining, Engineering, Food and Agribusiness, Metal, Fibre and Textiles, and Timber Processing according to The Geelong Manufacturing Council.
- Jobs growth is soaring, with emphasis on healthcare, tech and tourism. This is in part facilitated through the relocation of government agencies to Geelong. The funding has been provided to build the health, education, agriculture and tourism industries adding thousands of more new jobs to the city.
- Investments position Geelong as a future leader across an array of industries, with an estimated $178 million to be invested in the region over a 20-year period.
- Geelong offers good-value, affordable housing, especially compared with Melbourne. The market is projected to have an upward shift across the coming years due to the estimated population growth. Based on the last 5 years alone, Geelong has experienced a compound capital growth level of 8.5% per year. The current median price sits at $722,500 for a house, and $547,500 for apartments. The median rent is $410 for houses and $380 for apartments. These numbers differ accordingly to the suburb in question of course, and generally speaking the price lowers the further away you get from the Geelong coastline. Note that this information is correct as of October 2019.
- Global interest in Geelong as a hub of innovation is on the rise, with an investment of $70 million into Deakin’s Carbon Nexus research.
- World-class tourist attractions sit on the doorstep of Geelong, including the Great Ocean Road, Bells Beach and the 12 Apostles.
For those looking for a comprehensive guide on Geelong’s appeal for property investors, you can find out all you need to know in property investment experts DPN’s Geelong research report: Why Invest in Geelong
You then have the option to contact DPN for investment opportunities in the Geelong region.
*8% in the Geelong suburb of Armstrong Creek. With reference to independent research sources including RESIDEXTM Core Logic and Australian Government agencies.