Question 1

Is East Geelong a nice place to live?

Accepted Answer

East Geelong sits just east of Geelong’s city centre, where tree-lined streets of weatherboard cottages and Victorian terraces sit alongside pockets of modern infill. The suburb has a strong connection to the water, with easy access to the foreshore, bay and riverside walks and local parks. A compact shopping strip and a scattering of cafés and services give parts of East Geelong a village feel, and its walkability and links to the rest of the city appeal to long-term locals, young families and professionals.

About 4,012 people live in East Geelong; the median age is 40 and typical household income is $1,782 a week (roughly $92,700 a year). Families are dominated by couples — couple families without children 43.3% and couple families with children 40.9% — and most homes are owner-occupied (68.6% owned, 31.4% rented). Local projects under way include a Homes Victoria Big Housing Build delivering 54 new social homes to replace outdated public housing between Ensby and Tate streets, upgrades to Richmond Oval’s netball facilities and playground, and a Central Geelong Catchment Management Strategy that covers East Geelong. Whether this mix suits you depends on what you value in a suburb.

Question 2

Is it expensive to live in East Geelong?

Accepted Answer

Compared with local incomes at the last Census, housing in East Geelong 3219 looks much more stretched on the buying side than for renters. A median house price of $840,000 is about 9.1 times a typical local household's annual income at the last Census (weekly income $1,782, annualised to $92,664), which sits well above local incomes. By contrast, house rent of $540 a week would take about 30.3% of that weekly household income, a sizeable share, while unit rent of $430 a week would take about 24.1%, a moderate share. On these figures, renting looks the more manageable option than buying for many households.

Everyone's financial situation is different, so it's important to consider your own circumstances when deciding which suburb is right for you.

Question 3

Is East Geelong a good place to invest?

Accepted Answer

Over the past 12 months in East Geelong, median house values climbed 13.2%, a strong rise. House rents rose 3.8%, a modest increase, while unit rents increased 7.5%, a solid rise that outpaced house rent growth. The figures show the past year delivered stronger capital growth on the house side and stronger rental-income growth on the unit side; which of those matters most depends on your own goals and circumstances.

This information has been prepared without taking your objectives, needs and overall financial situation into account. It is not meant to be a substitute for professional financial advice. For this reason, you should consider the appropriateness of the information and, if necessary, seek appropriate professional advice.

	Houses	Units
Median price Past 3 months	$840K	N/A
Change in value Past 12 months	13.2%	N/A
Sold Past 3 months	17	1
Median days on market Past 12 months	27	N/A
Average rent Past 12 months	$540	$430
Change in rent Past 12 months	3.8%	7.5%

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