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Geelong suburb profile

Geelong is the city's central suburb on Corio Bay, focused around a compact CBD and the popular waterfront precinct. The built character mixes Victorian terraces and weatherboard cottages with converted woolstores and contemporary waterfront apartments, giving a sense of history beside modern living. Eastern Beach, the bay promenade and foreshore parks are everyday recreation spots, while galleries, museums and the riverside campus of Deakin University shape a strong arts and education presence. Regular regional trains and major road links connect the area, and residents range from students and young professionals to families and retirees who value a coastal, inner-city lifestyle with cafés, galleries and easy access to nearby beaches and the Bellarine Peninsula.

Geelong property market performance

Current median dwelling price$822,500Past 3 months

Property growth-0.5%Past 12 months

The median house price is $1,055,000, with house values edged down 0.3% over the last 12 months. The median unit price is $590,000, and unit values edged down 0.8% over the last 12 months.

Over the last 3 months, 20 houses and 24 units were sold. Houses sold faster than units, with a median time on market over the last 12 months of 48 days compared with 75 days for units.

In Geelong, the rental market averaged $565 a week for houses and $520 a week for units over the last 12 months. House rents rose a modest 4.6% and unit rents rose a modest 4.0% over the last 12 months, so rents moved at a similar pace.

HousesUnits
Median price
Past 3 months
$1.05M$590K
Change in value
Past 12 months
-0.3%-0.8%
Sold
Past 3 months
2024
Median days on market
Past 12 months
4875
Average rent
Past 12 months
$565$520
Change in rent
Past 12 months
4.6%4.0%

5 year median price trend for houses and units

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Geelong demographics

Geelong is home to 5,811 people, with a median age of 40 and a median household income of $1,670 a week, about $86,840 a year.

Families are dominated by couples: couple families with and without children together make up 86.5% of families, with couple families without children the largest single group at 53.3% and couple families with children 33.2%. One-parent families account for 11.5% and other families 2.0%.

Homes in Geelong are more often owner-occupied than rented: 34.1% are owned outright and 20.8% are owned with a mortgage, a combined owner-occupied share of 54.9%, while 45.1% are rented.

Suburbs near Geelong

Some popular suburbs near Geelong include:

  • East Geelong: Older residential area with waterfront reserves along Corio Bay.
  • Geelong West: Compact inner suburb with tree-lined streets and Victorian terraces.
  • Newtown: Established residential area noted for large period homes and local parklands.
  • South Geelong: Mixed residential and light industrial area with established homes and transport links.
  • Drumcondra: Small historic bayside suburb with a quiet, leafy character.

How does Geelong compare to nearby suburbs?

  • Median house prices: Geelong’s median house price is 25.6% higher than East Geelong’s.
  • House price growth: Over the past 12 months, house prices in Geelong have grown 8.7% higher than in South Geelong.
  • Unit price growth: Property prices in nearby Geelong West have risen 11.4% more than in Geelong over the past year.
  • Selling speed for houses: Properties in Geelong are selling 4.0% faster than in Newtown.
  • Selling speed for units: Properties in nearby Geelong West are selling 78.7% faster than in Geelong.
  • Investment considerations: In Geelong, the rental yield for house is 10.9% lower than the Melbourne average, while the rental yield for units is 11.9% lower.
  • House price growth: Over the past 12 months, house prices in Geelong have grown 15.3% lower than the average rate of growth across Melbourne.
  • Unit price growth:Over the past 12 months, unit prices in Geelong have grown 5.3% higher than the average rate of growth for units across Melbourne.

Choose the right real estate agents in Geelong

In Geelong ,79 agents are actively selling property, but a small number do the heavy lifting. Just 5 agents handled 23.5% of all sales in the past year, giving them a strong presence and deep experience in the local market.

Commission rates usually sit between 1.55% and 2.61%. Comparing agents and understanding what’s included in their fee structure can help you find the right mix of service, value, and motivation—without compromising on outcomes.

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