VIC Geelong 2020

is the price tag of 470-490K for a 2BR unit realistic or too optimistic for Newcomb

https://www.realestate.com.au/property-house-vic-newcomb-133521254

 

Depends on the finish and quality of the new build !
But you could likely buy an older house on a full size block also.
It has small land component as it has been subdivided off the old house in front, there isn't enough room to park a second car in the driveway, and a deck but no real yard area.
As a PPOR I'd also pass due to traffic noise from the Portarlington road

 

ducted heating + evaporative cooling.

 

+1

 

Recent news in REA

Coronavirus real estate: Geelong’s top performing suburbs revealed as house prices defy gloom - realestate.com.au

 

Oh yeah, Geelong's going from strength to strength. My tenants in Armstrong Creek offered to buy my property for $566k last week, it's not on the market, they put in a verbal offer via the PM. It was bank val'd for a similar amount in August. I'm pleasantly surprised.

 

Very interesting... to put into perspective for us, what did you originally buy it for?
I've just launched a three Townhouse development in Newtown so always pleasing to hear the median value keeps increasing.

 

Yep, should've added that. $435k, built in late 2017, tenanted without a break since then for $450/week. This is in the Villawood estate, just a short leisurely stroll to the primary, secondary schools and playgrounds.

 

Hi all,

Selling my corner block, approved development site in Belmont, Geelong.

Considered the best pocket of Belmont (Riverview being the expensive street) these townhouses will fetch huge prices.

They both have their own street frontages and overlook a Cameron park.
Permit for 2x High end, 4 bed townhouse by renowned architects Bruce Henderson.

(Architects Melbourne London Hanoi | Bruce Henderson Architects)

Belmont has had some recent huge sales and prices are not slowing down.
Example: 4-2-2 on 520m2 for $1.2m with no view

https://www.realestate.com.au/sold/property-house-vic-belmont-134342154

Listing with Kieron Hunter at Barry Plant - Listing below;

https://www.realestate.com.au/property-house-vic-belmont-134608962

Obviously happy to answer any specific queries but best to deal directly with agent.

 

Curious to see existing/ future owner thoughts on this plan reforming Moolap coastal. If realised will bring quite a positive change to East side of Geelong

https://www.marineandcoasts.vic.gov...tegic-Framework-Plan-August-2019-FINALweb.pdf

 

There has been various proposals, from filling in the old salt pans for residential to having a ferry run from the old Alcoa wharf to Melb.

The original proposal for the old Alcoa site was largely parklands IIRC, some of the point to also be returned to traditional owners.

There is a lot of decontamination works to be considered in any of these proposals before I'd live there !

Then there's still no way of getting past the city centre via car easily, unless the 1950's proposed bridge is built from Point Henry over the bay entrance (westgate style).
This will just end up being part of the slow urban sprawl.
You would do better investing in Lara

 

I also thought about the same option. The only thing I see with Lara is that this suburb was growing sharp in terms of house prices for the last 3 years, so I have a feel that for the next several years the house prices might be steady.

 

Don't get me wrong, "if" the Point Henry- Moolap Heights development was done well it could be a prime PPOR area for those working in Geelong city area.

I'm in Sydney these days, but have an interest in East Geelong and Belmont still.

A lot of the surrounding suburbs of tbe proposal remind me of Brisbane, as they don't seem to have a property boom as such, but they do keep going up consistently year after year.

There are lots of very large blocks of land in Moolap ready to be subdivided should council want "development", but keep in mind the area is also closer to sea level than is ideal.

Leopold and Lara are similar in a lot of ways, plenty of land around each, but I'd pick Lara due to transit options to Melb or down to the surf coast.

If you really wanted a left of field opinion, Lovely Banks has long term potential, or look toward Moriac as a lovely township

 

Reviving this thread.

Anyone sold/bought recently in Geelong? Values and rents holding up?

Mine are holding well, thankfully, values and rents.

 

Selling my investment property on the 19th, finger crossed for a good result. Reinvesting into a development site in Newtown.
So far speaking to the agent they have said the interest and response has been really strong.

Other good news for Geelong, a $70m Twin town project has been lodged.

Developer Lodges Plans for $70m Geelong Towers

 

Great to hear things are on track for the sale @NWHT. Yep, I recall you mentioning your upcoming dev in another thread/post elsewhere.

 

I have a couple in Geelong - Corio and Belmont. Both have done great since early 2017, same tenants, excellent CG