A recent analysis by PropTrack has identified Breakwater as the Geelong suburb where homeowners remain the longest, averaging an impressive 15.2 years. This suburb offers a blend of riverside living at a median house price of $530,000, making it an attractive option compared to more expensive areas nearby.
Residents of Breakwater are drawn to its unique combination of heritage and 1960s homes, all situated near a large industrial area. This affordability appears to be a critical factor in homeowners’ decisions to stay put. For instance, first-time buyer Billy Dalton recently purchased a three-bedroom house in Breakwater for $340,500 at a bankruptcy trustee auction, exemplifying the value this suburb offers.
Local real estate agent Dion Plumb from Barry Plant emphasizes the challenge of finding similar value in other suburbs. He questions, “If you are selling for $600,000, what are you actually going to buy that’s a three-bedroom house next to the river and close to the city?” His own family has enjoyed the neighborhood for 17 years, appreciating the quick access to riding trails along the Barwon River.
Recent sales illustrate the suburb’s appeal. A property at 14A Church St sold for $1.02 million, situated just 100 meters from the river. Another three-bedroom house at 14 Young St is currently listed for $585,000 to $615,000. With only 19 sales recorded in the past year, opportunities to enter the Breakwater market are limited, attracting attention from first-home buyers and interstate investors alike.
While Breakwater leads in homeowner retention, Bell Post Hill follows closely, with an average hold time of 13.7 years, up from 10.6 years in 2024. Other suburbs noted for long homeowner tenure include Grovedale, Bell Park, and North Shore.
Bell Post Hill’s charm lies in its solidly built original homes. Recently, a property at 13 Aintree Rd sold for $820,000, with new owners planning some updates while preserving the home’s character features. Local agent Jasmin Jurkovic highlights a shift as generational changes open doors for younger buyers, particularly in areas where original homes are listed for the first time.
Resident Jess Patti, who upgraded her family’s home after 12 years in Bell Post Hill, appreciates the suburb’s accessibility. “With the ring road, it’s so easy to get into Melbourne and the other side of Geelong,” she noted.
Jurkovic also points out that Bell Post Hill offers large blocks and bay views for under $700,000, positioning it as a prime area for future price growth. She states, “It’s the last suburb in Geelong that’s got affordability written all over it.”
The following table outlines key suburbs in Geelong with their average hold periods and median sale prices:
| Suburb | Average Hold Period | Median Sale Price (12 months) |
|---|---|---|
| Breakwater | 15.2 years | $530,000 |
| Bell Post Hill | 13.7 years | $665,000 |
| Grovedale | 13.3 years | $670,000 |
| Bell Park | 13.3 years | $650,000 |
| North Shore | 13.2 years | $627,500 |
| Newtown | 13.0 years | $1,080,000 |
| St Albans Park | 13.0 years | $630,000 |
| South Geelong | 12.8 years | $815,000 |
| Newcomb | 12.6 years | $560,000 |
| Geelong West | 12.3 years | $820,000 |
This analysis underscores the growing trend of long-term homeowners in Geelong, particularly in Breakwater and Bell Post Hill, highlighting their appeal in an increasingly competitive real estate market.
