PROPERTY have flat-lined in the Barwon region over the past 12 months, according to new figures.
Median residential prices were up only .6 per cent in the September quarter compared to the same time last year, said property valuation firm Propell.
The median price had “barely changed” to now sit at $439,000, Propell reported.
The figures mirrored recent statistics from real estate information firm RP Data, which also identified sluggish price growth in the region.
Both firms attributed Barwon with price increases lower than inflation.
The Barwon region covers Geelong, the Bellarine Peninsula, Queenscliff and the shires of Golden Plains and Colac Otway.
Propell’s report, based on an analysis of CoreLogic data, ranked Barwon seventh of Victoria’s 10 regional areas.
Western District, between Barwon and the South Australia border, had the highest growth rate, 12.2 per cent. Wimmera was the worst performer, with its median price falling 7.4 per cent.
