North Geelong is still one of the biggest draws for families and first-time home buyers as per several studies and reports. North Geelong is one of the top suburbs in Geelong which are seeing excellent growth. The median home prices have gone up by a whopping 27.9% in North Geelong to touch approximately $486, 000. 5-year annual growth figures are close to 10.9% which is really impressive to say the least. Naturally, North Geelong is quite popular in recent times with end-users and investors alike.
The northern suburb is drawing more home buyers for multiple reasons as per experts. North Geelong was majorly perceived as an industrial suburb in the past although it has now transformed into a key housing destination in Geelong. There are several high-quality yet affordable homes in the area. Buyers are realizing that it is more affordable as compared to Geelong West in many cases. The CBD is less than two kilometres away as well.
There is immense future scope for the growth of North Geelong as opined by several market experts. There will be development areas galore and several new housing projects will come up over the next few years backed by supporting infrastructure and funding. Overall prospects are bright for North Geelong over a period of 3-5 years as per the latest reports. Several home sellers are also getting prime prices for their properties in North Geelong due to skyrocketing demand. Many buyers also wish for proximity to Pakington Street in the Geelong West neighbourhood and also to the train network.
There is a preferred zone in North Geelong opposite to the Geelong West zone which is majorly viewed as an extension by young home buyers. Additionally, buyers choose properties both near and opposite to the golf course as per reports. All in all, North Geelong looks set for a bright future ahead!
