House prices in the Geelong suburbs, particularly Norlane and Corio, have seen significant increases, rising by 6 percent in the September quarter of 2025, according to data from PropTrack. The median house value in each of these suburbs has surged by approximately $27,000, reflecting a broader recovery in Geelong’s housing market.
The latest figures indicate a marked increase in home values across Geelong’s more affordable suburbs. While the overall recovery is evident, some coastal areas and higher-priced neighborhoods are still experiencing stagnation or declines. The data shows that the most pronounced growth has been in the northern and eastern suburbs, where property prices have surged.
In Norlane, a three-bedroom house at 9 Donnelly Ave is currently listed with an asking price between $550,000 and $600,000. Similarly, a residence at 29 Purnell Rd in Corio is on the market, with price expectations ranging from $599,000 to $658,000.
Wider Market Trends and Impacts
The rise in property values is not limited to the lower-end suburbs. Areas such as Herne Hill have also witnessed substantial growth, with a median house price increase of $34,000, bringing it to $728,000. Other suburbs experiencing notable appreciation include East Geelong with a 4 percent increase and Belmont at 3 percent.
Despite these positive trends, some coastal regions, including Barwon Heads and Point Lonsdale, recorded minor declines. Specifically, the median house value in Anglesea decreased by 7 percent, equating to a loss of $109,000.
Angus Moore, a senior economist at PropTrack, noted that the property market is experiencing steady growth, although the pace is not comparable to previous boom years. He attributes this gradual increase to a fall in interest rates, which has allowed potential buyers to afford higher-priced homes.
Real estate agent Nick Lord from Maxwell Collins highlighted that the current market is the strongest seen in Geelong in two years. He emphasized that properties in the most affordable price brackets are seeing the most significant impacts from rising demand.
Future Outlook and Market Dynamics
Buyers in Geelong are facing increased competition as inventory remains low, leading to quicker sales and stable pricing. Lord indicated that many owner-occupiers are now entering the market, further intensifying demand and creating a sense of urgency among buyers.
In contrast, suburbs like Newtown have seen flat growth, with a notable listing at 10 Mercer Parade priced between $3.95 million and $4.345 million.
The recent introduction of the expanded Home Guarantee Scheme is expected to fuel additional market activity, with some buyers eager to secure properties before the government incentives take effect. According to real estate agent Jasmin Jurkovic from McGrath, this has resulted in motivated buyers entering the market sooner than anticipated.
As Geelong’s housing market continues to evolve, it remains sensitive to price fluctuations. Nevertheless, properties that are fairly priced are attracting significant interest, as evidenced by increased attendance at open homes, which has risen from an average of 10 to 12 visitors to between 30 and 40.
In summary, Geelong’s housing market is witnessing a robust recovery, particularly in its more affordable suburbs. With ongoing demand and low inventory, the momentum appears set to continue over the coming months, making it a pivotal time for both buyers and sellers in the region.
