Black-and-white aerial view of central Geelong and its waterfront on Corio Bay

Greater Geelong · Regional Victoria

Geelong Property Investment

A major Victorian regional city with population growth, employment, infrastructure investment, economic diversity and a deepening housing market.

Photo: Aerial perspective of Geelong by Bob T, CC BY-SA 4.0, cropped and converted to black and white.

Geelong has changed dramatically over the past decade.

Once heavily associated with traditional manufacturing, it has become a much more diverse regional economy spanning healthcare, education, advanced manufacturing, construction, professional services, defence, logistics, tourism and emerging clean-economy industries.

295,052Residents (June 2025)
147,230Local jobs
23,560Businesses
$21.5bnGross Regional Product

More than $16 billion of major projects are proposed, approved, underway or recently completed. For property investors, that combination matters.

But we don’t believe in simply buying because Geelong is growing. The question is which locations and which properties are positioned to benefit.

The city

Why Geelong Is Worth Investigating

Geelong is Victoria’s largest regional city and one of Australia’s most significant regional economies. It sits within easy reach of Melbourne, yet has its own employment base, universities, health services, retail, beaches, waterfront and transport infrastructure.

The City of Greater Geelong’s 2026 investment prospectus highlights direct freeway and rail links to Melbourne, a deepwater port at GeelongPort, and Avalon Airport with passenger services and 24/7 freight.

But accessibility is only part of the story. What matters more for investors is the combination of:

  • Population growth
  • Employment growth
  • Economic diversity
  • Infrastructure investment
  • Housing demand
  • Education
  • Healthcare
  • Transport
  • Relative affordability
  • Lifestyle
  • Future housing development

When several of those fundamentals occur together, a location becomes worth investigating.

Population

Geelong’s Population Is Continuing to Grow

Greater Geelong’s estimated resident population reached 295,052 at 30 June 2025, up from 282,809 two years earlier: more than 12,000 extra people in just two years. The City’s community profile forecasts about 442,000 by 2046, an increase of almost half the current population.

295,052Residents, June 2025
~442,000Forecast by 2046
+50%Growth over 20 years

Population growth matters because every additional household needs somewhere to live. But forecasts don’t automatically translate into capital growth. The critical question is:

Can housing supply keep pace with population and household growth, and where will that new housing be?

Employment

Employment Is One of Geelong’s Biggest Strengths

This is where today’s Geelong story is very different from the one this page once told. According to the City of Greater Geelong’s work and investment data, jobs have grown at an average of 4.3% a year over the past five years, and the economy is expanding at 3.9% a year.

Largest employment sectorsLocal jobs
Health care and social assistance30,245
Retail trade15,526
Education and training15,247
Construction14,298
Manufacturing11,409
Accommodation and food services10,224
Professional, scientific and technical services8,769

Geelong’s economy isn’t dependent on a single industry. Manufacturing remains important, but the city has built substantial employment in healthcare, education, construction, professional services and tourism.

Geelong’s economic transformation

The City’s prospectus identifies advanced manufacturing and defence (including Hanwha’s Armoured Vehicle Centre of Excellence), healthcare, agribusiness, the clean economy, creative industries, digital technology, professional services and the visitor economy, supported by the new Nyaal Banyul Convention and Event Centre, as major areas of current and future opportunity.

Businesses create jobsJobs attract peoplePeople need housing

That doesn’t guarantee price growth, but it creates an underlying source of housing demand.

Investment pipeline

More Than $16 Billion of Investment

The City identifies an investment pipeline of more than $16 billion across 168 major projects, each worth more than $10 million. About 22% are proposed, 33% approved, 28% underway and 17% recently completed.

CategoryValue
Industrial and commercial$5.2bn
Roads and transport$2.4bn
Residential$2.0bn
Medical and allied health$1.6bn
Public buildings and utilities$1.2bn
Tourism$1.1bn

That is a very different picture from the $400 million of infrastructure this page once described.

Video: Gentrification of Geelong is your investment opportunity

Health and education

Healthcare Is a Major Growth Driver

One of the most significant current projects is the Barwon Women’s and Children’s Hospital, a $500 million project. As of September 2026 the building’s structure and facade are complete, internal fit-out has begun, and completion is scheduled for 2028. It will support close to 1,500 jobs during construction and expand:

  • Maternity inpatient beds and birthing suites
  • Paediatric inpatient beds
  • Special care nursery cots
  • Operating theatres
  • Paediatric and maternity specialist clinics

This isn’t simply a hospital project. It is part of Geelong’s broader transformation into a significant regional health and education centre.

Education and research

Deakin University has campuses at Waurn Ponds and on the Geelong Waterfront, with research hubs including ManuFutures and the Institute for Frontier Materials, while The Gordon provides vocational education and training. Education brings another source of housing demand: students, academics, health professionals, tradespeople and other workers drawn to the region.

Future supply

Geelong’s Future Housing Growth

Geelong isn’t just growing through established suburbs. Large-scale housing is planned.

Northern and Western Geelong Growth Areas

The Northern and Western Geelong Growth Areas are one of the largest urban expansion projects in regional Victoria, planned for more than 40,000 new homes and more than 110,000 new residents.

40,000+Planned new homes
110,000+Future residents
Nov 2026Commonwealth environmental decision expected

They are still progressing through major planning and environmental processes. Council endorsed the draft strategic assessment on 25 August 2026 and lodged it with the Commonwealth Minister for Environment and Water two days later, with a decision expected by late November 2026. Precinct structure planning continues in stages after that.

An important distinction

We don’t describe this pipeline as housing that is available today. Delivery is staged, and depends on planning, environmental approvals, infrastructure and precinct planning. But it is enormous future supply, and investors need to understand it. Population growth creates demand. Thousands of new dwellings create competition.

Armstrong Creek is part of the bigger story

The Armstrong Creek growth area is planned for around 22,000 homes and 55,000 to 65,000 people, with substantial employment and community infrastructure. But it is one part of a much larger city, not the whole Geelong investment story.

Prices and rents

What Is Happening in the Geelong Property Market?

There is a big difference between Geelong the municipality and Geelong 3220 the suburb. The REIV currently reports for Geelong 3220:

Geelong 3220Median priceMedian rentYield
Houses$930,000$585 pw3.3%
Units$592,500$520 pw4.3%

These figures are for Geelong 3220 only. Investors looking at Armstrong Creek, Corio, Lara, Grovedale or other parts of Greater Geelong are dealing with very different markets.

Rental demand remains strong

PRD’s Smart Moves: Regional Edition 2026 puts Greater Geelong’s entry prices about 37% below Melbourne Metro, with:

3.3%House yield (Melbourne 3.0%)
4.8%Unit yield (Melbourne 4.4%)
1.9%Vacancy rate (Melbourne 2.0%)
37%Below Melbourne entry prices

The supply question

PRD also identifies a substantial pipeline set to begin construction: 15,494 vacant lots, 2,415 units, 672 dwellings and 344 townhouses, about $4 billion of projects. It notes that construction challenges may delay delivery, and that planned supply looks modest next to the 5,866 houses sold in 2025.

That’s why we don’t say “Geelong is growing, so buy a new property.” The real question is:

Where is new supply coming, what type of property is it, and how will it compete with the one you’re buying?

Affordability still matters, but it isn’t the thesis

Some established Geelong locations command substantial premiums because of their land, amenity, schools, employment access and owner-occupier demand. Affordability is one factor. It isn’t the investment case by itself.

Independent research

What Hotspotting Says About Geelong

Hotspotting, the research firm founded by Terry Ryder, has identified Geelong as one of the regional markets showing renewed momentum in 2026.

39%+Rise in Geelong sales volumes over the past year
39Geelong areas identified with rising sales activity
3Suburbs in the national Top 50 supercharged markets
  • In its Summer 2026 Price Predictor Index, more than three-quarters of Geelong suburbs received positive rankings. Charlemont, Corio and Ocean Grove were among the nation’s top 50 supercharged markets, and Armstrong Creek, Belmont, East Geelong, Grovedale, Manifold Heights, Newtown and Waurn Ponds were rated as rising.
  • Its Autumn 2026 Price Predictor Index reported that Geelong’s residential sales volumes had risen by more than 39% over the year, and identified 39 areas across the region with rising sales activity.
How we use research like this

Hotspotting looks at sales activity, depth of demand, rental conditions, economic diversity, infrastructure, employment and population, which is closely aligned with how we assess locations. We present its conclusions as independent analysis, not as a promise of future price growth.

Lifestyle and transport

Lifestyle Is a Genuine Economic Driver

Coastal access, beaches, the waterfront, established neighbourhoods, restaurants, sport, arts and culture, and the Bellarine Peninsula all help Geelong attract and keep residents. The City itself describes lifestyle as a key reason businesses can recruit and retain talent.

For investors, lifestyle matters because it supports owner-occupier demand, and we place considerable weight on owner-occupier demand when assessing any property.

Transport and Melbourne connectivity

V/Line services connect Geelong with Melbourne, and the line also serves the city’s southern suburbs, including Marshall and Waurn Ponds. The duplicated South Geelong–Waurn Ponds section has added capacity to the corridor.

We don’t build the investment case on promises of a 30-minute fast-rail commute. Geelong is already a substantial city. Its Melbourne connection is an advantage, not the reason the city exists.

What’s on the market

New Stock in Greater Geelong Right Now

A snapshot of the new Greater Geelong stock our builders and developers sent us from July to October 2026, grouped by suburb. We use it to compare price points, dwelling types and rental estimates across the area, then test individual properties against our research.

98

Listings received

$750k

Median house & land

$540k

Median townhouse

$342k

Median land price

$384k

Median build price

$562/wk

Median rent estimate

4.3%

Median gross yield

SuburbListingsMain typesPrice rangeMedianRent est.Gross yield
Corio30H&L, Townhouse$520k–$830k$750k––
Norlane20H&L, Townhouse$680k–$700k$690k$565/wk4.3%
Armstrong Creek15H&L, Dual/duplex$576k–$925k$759k$509/wk4.6%
Lara9H&L$634k–$809k$724k––
Charlemont5H&L, Townhouse$559k–$749k$698k––
Drysdale5H&L$784k–$859k$803k––
Leopold3H&L$584k–$763k$744k––
Mount Duneed3H&L, Dual/duplex$850k–$935k$930k––
Clifton Springs2H&L$656k–$680k$668k––
Highton2Completed house$1.32m$1.32m––
Ocean Grove2Completed house$1.27m$1.27m––
Geelong1Apartment$599k$599k––

Indicative prices and rents from builder and developer stock lists sent to properT network between July and October 2026. Rents are supplier or agent estimates, not guarantees, and gross yield is rent × 52 ÷ total price, shown only where enough listings state a rent. Stock changes weekly, so ask us for what’s available now.

Current packages · October 2026

59 New House and Land Packages in Greater Geelong

Lot-by-lot detail from the latest builder stock lists (2 and 16 October 2026), across 15 estates, from $657,999 to $972,800. Where a lot shows more than once, it is offered with different home designs.

Show all 59 packages
Suburb / estateLotHomeLandHouseLand + buildTotalTitles
Armstrong Creek
Armstrong Waters Estate
Lot 832
Barracouta Dr
Dual key, 6 bed480 m²239 m²$499,000 + $473,800$972,800Titled
Armstrong Creek
Banksia
Lot 1014
Paradise Circuit
3 bed268 m²141 m²$327,000 + $350,050$677,050Feb-27
Armstrong Creek
Banksia
Lot 1028
Paradise Circuit
4 bed392 m²196 m²$399,000 + $381,500$780,500Feb-27
Armstrong Creek
Banksia
Lot 1308
Goodenia St
4 bed494 m²207 m²$441,000 + $391,100$832,100Titled
Armstrong Creek
Harriot
Lot 11014 bed, 2 bath, 2 car399 m²177 m²Package$830,000Ask us
Armstrong Creek
Palomino
Lot 3184 bed, 2 bath, 2 car347 m²154 m²Package$759,199Ask us
Charlemont
Allemore
Lot 134 bed, 2 bath, 1 car238 m²144 m²Package$657,999Ask us
Charlemont
Allemore
Lot 234 bed, 2 bath, 1 car238 m²144 m²Package$659,899Ask us
Charlemont
Allemore
Lot 224 bed, 2 bath, 1 car238 m²144 m²Package$659,899Ask us
Charlemont
Allemore
Lot 274 bed, 2 bath, 1 car238 m²144 m²Package$661,899Ask us
Charlemont
Allemore
Lot 214 bed, 2 bath, 1 car298 m²144 m²Package$707,799Ask us
Charlemont
Allemore
Lot 154 bed, 2 bath, 2 car351 m²154 m²Package$754,599Ask us
Charlemont
Allemore
Lot 54 bed, 2 bath, 2 car350 m²154 m²Package$759,699Ask us
Charlemont
Allemore
Lot 154 bed, 2 bath, 2 car351 m²177 m²Package$774,499Ask us
Charlemont
Allemore
Lot 54 bed, 2 bath, 2 car350 m²177 m²Package$779,699Ask us
Charlemont
Charlemont Rise
Lot 29254 bed, 2 bath, 2 car459 m²154 m²Package$760,199Ask us
Charlemont
Charlemont Rise
Lot 29214 bed, 2 bath, 2 car443 m²154 m²Package$774,800Ask us
Charlemont
Charlemont Rise
Lot 29254 bed, 2 bath, 2 car459 m²177 m²Package$783,099Ask us
Charlemont
Charlemont Rise
Lot 27404 bed, 2 bath, 2 car428 m²177 m²Package$792,099Ask us
Charlemont
Charlemont Rise
Lot 29214 bed, 2 bath, 2 car443 m²177 m²Package$797,299Ask us
Charlemont
Charlemont Rise
Lot 27404 bed, 2 bath, 2 car428 m²197 m²Package$805,300Ask us
Charlemont
Charlemont Rise
Lot 29214 bed, 2 bath, 2 car443 m²197 m²Package$810,399Ask us
Charlemont
Haymont
Lot 7184 bed, 2 bath, 2 car388 m²154 m²Package$756,299Ask us
Charlemont
Haymont
Lot 4364 bed, 2 bath, 2 car400 m²154 m²Package$763,499Ask us
Charlemont
Haymont
Lot 4384 bed, 2 bath, 2 car400 m²154 m²Package$763,499Ask us
Charlemont
Haymont
Lot 4344 bed, 2 bath, 2 car400 m²154 m²Package$763,499Ask us
Charlemont
Haymont
Lot 4424 bed, 2 bath, 2 car400 m²154 m²Package$763,499Ask us
Charlemont
Haymont
Lot 4284 bed, 2 bath, 2 car450 m²154 m²Package$766,499Ask us
Charlemont
Haymont
Lot 4344 bed, 2 bath, 2 car400 m²177 m²Package$783,499Ask us
Charlemont
Haymont
Lot 4424 bed, 2 bath, 2 car400 m²177 m²Package$783,499Ask us
Charlemont
Haymont
Lot 4384 bed, 2 bath, 2 car400 m²177 m²Package$783,499Ask us
Charlemont
Haymont
Lot 4364 bed, 2 bath, 2 car400 m²177 m²Package$783,499Ask us
Charlemont
Haymont
Lot 4284 bed, 2 bath, 2 car450 m²177 m²Package$786,499Ask us
Charlemont
Haymont Estate
Lot 802
Theorem Ave
4 bed350 m²191 m²$391,500 + $381,000$772,500Sep-27
Charlemont
Haymont Estate
Lot 803
Theorem Ave
4 bed350 m²180 m²$391,500 + $381,500$773,000Sep-27
Charlemont
The Reserve
Lot 9244 bed, 2 bath, 2 car448 m²177 m²Package$803,999Ask us
Lara
Coridale
Lot 14594 bed, 2 bath, 2 car383 m²177 m²Package$746,499Ask us
Lara
Coridale
Lot 14584 bed, 2 bath, 2 car392 m²177 m²Package$754,499Ask us
Lara
Coridale
Lot 14474 bed, 2 bath, 2 car400 m²177 m²Package$757,699Ask us
Lara
Coridale
Lot 14594 bed, 2 bath, 2 car383 m²197 m²Package$759,999Ask us
Lara
Coridale
Lot 14584 bed, 2 bath, 2 car392 m²197 m²Package$767,999Ask us
Lara
Coridale
Lot 14474 bed, 2 bath, 2 car400 m²197 m²Package$771,299Ask us
Lara
Coridale
Lot 19144 bed, 2 bath, 2 car512 m²177 m²Package$797,199Ask us
Lara
Coridale
Lot 19144 bed, 2 bath, 2 car512 m²197 m²Package$812,899Ask us
Leopold
Leopold Green
Lot 1
Cofferock Dr
4 bed457 m²175 m²$429,000 + $361,100$790,100Titled
Leopold
Leopold Green
Lot 114 bed, 2 bath, 2 car440 m²177 m²Package$803,899Ask us
Leopold
Leopold Green
Lot 10
Kensington Rd
4 bed457 m²191 m²$439,000 + $370,300$809,300Titled
Leopold
Leopold Green
Lot 114 bed, 2 bath, 2 car440 m²197 m²Package$814,899Ask us
Leopold
Sanctuary Springs Estate
Lot 406
Garnet Close
4 bed350 m²191 m²$332,000 + $395,390$727,390Jul-27
Mount Duneed
Mattana
Lot 854 bed, 2 bath, 2 car350 m²177 m²Package$793,199Ask us
Mount Duneed
Mattana
Lot 1054 bed, 2 bath, 2 car400 m²177 m²Package$794,099Ask us
Mount Duneed
Mattana
Lot 1084 bed, 2 bath, 2 car400 m²177 m²Package$794,099Ask us
Mount Duneed
Mattana Estate
Lot 104
Motion Dr
4 bed399 m²157 m²$412,900 + $383,150$796,050Titled
Mount Duneed
Mattana Estate
Lot 100
Figwood St
4 bed392 m²191 m²$411,400 + $392,650$804,050Titled
Mount Duneed
Mattana Estate
Lot 100
Figwood St
4 bed392 m²196 m²$411,400 + $400,350$811,750Titled
Mount Duneed
Silverbrook
Lot 2011
Moonlight Dr
3 bed308 m²132 m²$364,000 + $377,400$741,400Jun-27
Mount Duneed
Silverbrook
Lot 2012
Moonlight Dr
4 bed313 m²157 m²$373,000 + $386,800$759,800Jun-27
Mount Duneed
Silverbrook
Lot 2013
Flaxlily Ave
4 bed350 m²196 m²$385,000 + $416,600$801,600Jun-27
Mount Duneed
Silverbrook
Lot 1007
Roundleaf St
4 bed392 m²191 m²$416,000 + $440,300$856,300Jun-27

Indicative package prices as supplied by builders in October 2026, before stamp duty and legal costs. Availability changes weekly and is not guaranteed, so ask us what is still available and we will check the lot against our research before you commit.

Our criteria

What Makes an Investment-Grade Geelong Property?

This is where we move away from generic location marketing. We look for:

1. Owner-occupier appeal

Would a local family or professional genuinely want to live there?

2. Access to employment

How close is it to jobs, healthcare, education and commercial areas?

3. Appropriate land

Land remains a key part of long-term residential value.

4. Rental demand

Who will rent it, and what are comparable properties achieving?

5. Controlled competition

How much similar housing exists now, and how much is coming?

6. Infrastructure

What is delivered, what is funded, and what is merely proposed?

7. Price vs alternatives

What could the same money buy elsewhere?

8. Future resale

Who is likely to buy it when you sell?

9. Strategy fit

Does it suit your budget, timeframe and goals?

Submarkets

Geelong Isn’t One Property Market

There isn’t one “Geelong property market”. There are several, and each has a different mix of price, land, rental demand, supply, employment, infrastructure, amenity and owner-occupier demand.

Established Geelong

Geelong, Geelong West, Newtown, East Geelong

Stronger established amenity and owner-occupier depth, but higher entry prices in many locations.

South Geelong

Belmont, Grovedale, Highton, Waurn Ponds

Strong connections to Deakin, healthcare, shopping and employment.

Growth corridor

Armstrong Creek, Mount Duneed, Charlemont

Significant population growth and infrastructure, but substantial future housing supply.

Northern Geelong

Corio, Norlane, North Shore, Lara

Relative affordability, close to major employment and transport infrastructure.

Bellarine

Drysdale, Leopold, Ocean Grove, Curlewis

Lifestyle-driven markets with different supply, affordability and owner-occupier dynamics.

Our approach

Each submarket needs to be assessed independently, then at estate, street and property level.

Why we continue to watch Geelong

Population growthEmployment growthEconomic diversificationInfrastructure investmentHealthcareEducationTransportLifestyleHousing demandFuture development

That doesn’t mean every Geelong property will outperform. It means Geelong has the depth and diversity to warrant serious investigation.

Our approach

We Don’t Believe in Buying a Suburb

We don’t recommend buying in Geelong simply because someone calls it a hotspot.

The right way

  • Investor → Strategy → Location → Property

Not

  • Property → Suburb → Hope

Your budget, borrowing capacity, timeframe, cash-flow needs, existing portfolio and objectives decide what type of property you should consider. Only then do we work out which part of Geelong may fit. Read more about setting the purpose of your investment.

We don’t sell Geelong. We research it.

We examine population, employment, infrastructure, economic diversity, transport, education, healthcare, rental demand, housing supply, land, development pipelines, owner-occupier demand and individual property fundamentals. Then we decide whether a particular property makes sense for a particular investor.

Bottom line

Is Geelong Worth Investigating for Property Investment?

Geelong has become a major regional economy with nearly 300,000 residents, more than 147,000 local jobs, a $21.5 billion economy and more than $16 billion of major projects. Its population is expected to keep growing strongly, while investment in healthcare, education, employment, transport and infrastructure is reshaping the city. Hotspotting’s 2026 research has also identified broad increases in sales activity across the region.

But Geelong’s large future housing pipeline means property selection matters. The opportunity isn’t simply “buy in Geelong”. It is:

Understand Geelong→Find the right submarket→Assess supply→Find the right property→Fit your strategy

Considering property investment in Geelong?

The Right Suburb, Estate and Property Matter

Geelong offers one of Victoria’s most diverse regional property markets, but choosing the right suburb, estate and property is critical. Talk to Investment Property Melbourne, powered by properT network, about whether Geelong fits your strategy and which type of property may suit your circumstances.

Related Geelong resources

Armstrong Creek & Mount Duneed Property Investment
Geelong’s southern growth corridor, and how to choose the right property within it.

Why Invest in Armstrong Creek
Our more detailed analysis of Armstrong Creek’s fundamentals.

Time to Invest in Geelong and Lara
The northern Geelong and Lara growth story.

Melbourne & Victorian Property Investment Locations
Compare Geelong with the other locations we research, by budget and property type.

Ballarat Property Investment and Bacchus Marsh Property Investment
Two more regional Victorian markets we research in depth.

Where Are the Top Regional Hotspots to Invest In?
Why Geelong sits alongside Ballarat and other regional centres on analysts’ watch lists.

Autumn 2026 Property Market Insights: Melbourne & Regional Victoria
How internal migration and infrastructure are driving demand in Geelong, Ballarat and Bendigo.

Sources & further reading

General information only. Investment Property Melbourne and properT network do not provide personal financial, legal, tax or lending advice. Figures are from the sources and periods stated and may change. Planned projects may change or be delayed. Property investment carries risk, including the risk of loss. Seek independent professional advice before making any decision.

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