VIC Geelong 2018

A satellite town of Melbourne that eventually became absorbed into Melb proper. Lots of houses were built in the area around that time, and electric metro trains arrived soon after in 1983.

 

Anyone after a classic McMansion at Corio?

401 Princes Highway Corio Vic 3214 - House for Sale #128765846 - realestate.com.au

Corio’s hidden gem revealed with million-dollar price hopes - realestate.com.au

Cheers,
David

 

McMansion? That’s bloody beautiful!

 

would be staggered if that got 400k. 375 i reckon.

 

On a block size equivalent to about three house blocks, and almost a poor man's Corio Villa Californian, i reckon it would have to be not far shy of a million even on land value nowadays. It is behind a large fence so even regular Geelong-ites have probably never seen this house unless they knew the owners and visited it!

It would certainly be the closest Californian bungalow to Melbourne in the Geelong area, anyway!

 

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I spoke to Chari (surely most people know that name in here) about a week ago on indicative prices. HAHA $375k? Man, did you see the land size? $375k is how much you'll pay for a stock standard 3 BR on ~600m2 in Corio these days. The agent told me they're looking for 930k-1m which I thought was pretty reasonably priced given the size! I reckon it's got fair bit of future development potential if it's not heritage zoned.

 

Oh man I miss the $215k Corio days of early 2016.

 

Haha yes! Though I really only gone with Corio as I only just missed the Newcomb boat by a matter of a couple of weeks after deciding not to get something in Werribee! Definitely would had gone with Werribee if I was looking at Vic at that time! Ah well can't complain, the CGs been good, just wished I had more choices with regards to tenants!

 

Another ferry revival talk coming up - Cruising the commute: fingers crossed for Geelong-Melbourne ferry. Three big problems with the idea:

- 105 mins from Geelong to Docklands. That's a LONG time. For a premium service, I'd expect the trip to be shorter
- Stops at Docklands, then jump on a tram to get to the city, that's another say 15-20 mins. By current trip times, that's over 2 hours. Surely the Vline would take a LOT less (most days) time to get to Spencer St Station
- Unknown ticket price. I'd imagine $30-35 till the idea becomes popular with lotsa demand

On the flip side though, at least they're having another go at the idea!

 

"Ms Casson said the ferry offered a cafe, alcohol sales, tables and free Wi-Fi."

That part is quite tempting if the internet is decent enough to do work over VPN. I've always wanted to spend my days working in a cafe somewhere. The commute will definitely need to come down to at least 1.5 hours total as well as cost otherwise you may as well live in Melbourne!

 

well if they can get their hands on this thing, the ~60km one way trip can be covered in about 35 minutes at the top speed of 58 knots (for reference the 'fast cats' in Sydney go at 22 knots according to google)

 

And when the weather is bad ...

 

Overseas speculators land banking in Geelong via long term option contracts

Overseas speculators risk pushing up new house prices in Geelong

 

I received a phone call about 2 days from an Agent wanting to know if I was interested in selling. Not sure how he obtained my number but I'm sure there would be a database online somewhere.

Since I only purchased in Feb this year I kindly declined but was interested to hear his professional opinion on the Geelong market.

He indicated that they haven't experienced the slow down that Melbourne is going through and that are more buyers than seller at the moment (hence the reason for the phone call). He was active in promoting the influx of government job to the Geelong CBD and other larger developments in the region. He continued to rattle off a few other points but they were pretty standard.

Curious to know whether anyone else has experienced this cold calling lately?

 

Yes I have been called by two of the smaller REA players in the Geelong market to see if I was keen on selling. I declined of course and heard the same great things you heard about @NWHT, might even have been the same guy!

 

I am just happy there are bringing infrastructure here, means good days for Investors. who have recently entered the market.

 

I haven'e got any calls from REA but have heard clearance rate on ground is still around 90% which is pretty amazing - despite this cold weather!

Has anyone been to an auction lately - mind sharing your thoughts?

Cheers,
David

 

I went to an auction last month with my BIL. Nice house, good location and all. Here's a picture of a part of the crowd, times this by 2, because there were a similar number behind me too.



There were 3 active bidders, one fell away by the wayside early, the other two battled it out. The guy with the earphones (was on the phone with someone all the time) took the house. We had a word with one of the REAs there before the auction, said the action was still nuts for well priced and presented properties.

 

Thanks for sharing @Westie. It's interesting to see plenty of spectators but only 3 groups of active bidders.

How much did this one go over the indicative price?

Cheers,
David

 

This was 35 Winstanley, Thomson, that was quoted from $299k-$320k if my memory serves me right, went for $412k.