Geelong has emerged as a hotspot for investors seeking rental properties, according to a national price comparison expert.
A fall in vacancy rates and rising house prices made the city a target for “rentvestors”, Mozo’s Steve Jovcevski said.
Vacancies had halved from five to 2.6 per over the past 12 months, but the median house price had increased almost 7 per cent to $647,000, Mr Jovcevski said.
He also noted Geelong’s proximity to Melbourne and the Great Ocean Road along with “strong work opportunities in education, health care and manufacturing”.
“With a strong drop in vacancy rates and steady price growth in houses, Geelong makes a smart investment given its prime location, stable job market and solid infrastructure,” he said.
The assessment follows the launch of a new property insight tool covering every residential address in the Geelong region.
View.com.au gives users current valuations and past sale prices for over 10 million properties across Australia.
Users can also obtain updated price estimates for additions such as extra bedrooms or bathrooms.
The Indy’s parent company, Star News Group, is a partner in view.com.au.
