City property ‘in top 100’ of growth, profit ranking

An exclusive new property report has identified Geelong as a top-100 suburb for growth and profit.
Geelong came in at 82 in the Your Investment Property Annual Suburbs Guide, ranking Australia’s top 100 suburbs with the highest potential for capital growth and rental returns.
The city won marks for its comparatively low median house and unit prices, solid rental yields and price-growth forecasts.
The report gave Geelong’s economy a score of 8/10, while new infrastructure plans achieved 7/10 and amenities 8/10.
“Geelong has emerged as one of Australia’s leading non-capital cities, with its recent strong growth in knowledge-based industries such as health, research, biotechnology and education,” the guide said.
“Geelong offers inner-city, coastal, suburban and rural living opportunities at far greater value than what you’ll find in its nearest capital city, Melbourne.
“With the suburb’s lively cosmopolitan city, waterfront precinct and world-famous beaches, supported by extensive transport infrastructure and a growing economy, Geelong’s median house price of just over half a million dollars is comparatively inexpensive for all the perks it includes.”
The guide cited a median price of $537,500 for houses and $478,000 for units, a rental yield of 4 per cent for both and a vacancy rate of 4.31 per cent.
“Supply and demand are well balanced in Geelong. Houses score 54/100 and units are at a dead-even 50/100,” the guide added.
For its best buys, the guide recommended buying “something unique, such as a character home with charm” to drive capital growth.
Homes east of Yarra Street near Geelong Hospital and the central city area received the tick of approval.
Victoria had 12 of the top 100 suburbs but Queensland led the list with 35.
The report contrasted with other recent figures showing property prices flat-lining in Geelong over the past year.
The Indy reported in October that median house prices had grown 0.6 per cent in the previous 12 months which was less than half the rate of inflation.