Why investing in fast growing Geelong makes investment sense
Population of Geelong – planned to grow by 49% by 2041
Strong Infrastructure investment of $400m will create new jobs and gentrify Geelong for ever.
City of Greater Geelong, which is Victoria’s second city is fast transforming into a dynamic city with a quality lifestyle thanks to economic diversification, infrastructure investment, affordability and location. Covid-19 is also playing an important role attracting more buyers to relocate to regional centres such as Geelong.
Geelong is probably where the Sunshine Coast was 2 short years ago on the growth curve with massive investment by government and industry the population is planned to double in size placing massive pressure on supply of dwellings and thus capital growth potential … read more here
The City of Greater Geelong is Victoria’s busiest and strongest market and continues to gather momentum especially with Victorians opting for smaller cities and towns for lifestyle, affordability and jobs. There is a renewed rise in demand for homes in Geelong and the Bellarine Peninsula. Covid-19 and HomeBuilder grants is stimulating the move and thus the demand .
The Geelong Growth Markets include the areas of Armstrong Creek, Drysdale, Leopold, Mt Duneed, Ocean Grove, and St Leonards and naturally the growth corridor between Melbourne and Geelong has been enjoying extensive growth which continues to be soundly underpinned by infrastructure of Rail, Roads, Government Investment, Industry Investment, Creation of new Jobs etc whilst providing Lifestyle and affordable housing.
Rapid population growth is a strong driving factor behind significant infrastructure and commercial investment into the area with a strong and diverse local economy and a fantastic alternative to a busy and expensive Melbourne. Read more on other Regional Growth and Investment Opportunities here.
Geelong itself continues to emerge as an incredibly strong local economy that has transitioned from an old economy to a new successful one and will continue to do so.
Geelong’s new reality, is that positive events in the Geelong economy far out-weigh the impact of the Ford closure. The jobs that were lost at Ford are outnumbered by the ones being created in other ventures with the biggest employers in Geelong being Education and also Health Care both sectors providing a significant amount of new and sustainable employment.
There are major events still to come in the Geelong economic story, spurring good performance in 2017 and continuing through to 2020. It’s a busy market, driven by its affordability relative to Melbourne, a strong local economy and a water-based lifestyle. Geelong currently ranks as one of the Top 5 markets in the nation, in terms of sales volumes and potential for price growth.
Who wouldn’t want to live in a beautiful city surrounded by water, on the gorgeous Bellarine Peninsula, close to incredible beaches and all with in easy reach of Melbourne by care or train… and where property is cheaper.
When Geelong gets the planned Fast Rail link to Melbourne the demand for property in Geelong will escalate and further drive up property values and rental yields.
The primary employment sectors in Geelong include Education, Medical and Government recently also boosted by the move by NDIS, TAC and Worksafe, amongst others, into Geelong with these employment sectors alone creating more competition in a lot of Geelong suburbs. The Shortage of titled land has also sparked a race for established homes in areas like Armstrong Creek and Mt Duneed.
But the greatest impetus is now being found in the outlying Regional areas where affordability, jobs nodes and good infrastructure are the key factors. Typical locations where this is occurring include the Epping precinct in the north, the Sunshine precinct in the west and the Casey LGA in the far south-east.
Back to the regions, where Bendigo, Ballarat and some of the lifestyle towns north of Melbourne – including those in the municipalities of Mitchell and the Macedon Ranges – all have their merits, but Geelong is undoubtedly No.1 location.
What continues to drive price growth in Geelong
Employment is one of the main drivers with :
- New $277m Epworth Hospital which opened in July 2016
- TAC (Transport Accident Commission) moved to Geelong
- Worksafe Victoria moved to Geelong
- National Disability Insurance Agency moved to Geelong
- Increase in demand for all Medical Related industries
- Federal Mills – Pivot City Innovation District a strategic employment driver
Education is another driver :
- Deakin University and various University initiatives are also creating employment
- Both government and private schools offer excellent and renowned education attracting families
Lifestyle and Affordability :
- With Melbourne becoming too expensive families are moving to Geelong not only for new employment opportunities but also for lifestyle
- Where else can you live right on the water or travel 10 minutes down the road to be on an ocean-side beach
- A block of land with a home in the early to mid $400’s lends value and affordability to families who wish to reside close to where they want to live, work and play
Armstrong Creek and Mt Duneed
One of the suburbs that has really healthy numbers is Armstrong Creek which is only 10 minutes to Geelong and 10 minutes to the Surf beaches. Offering upfront value plus wonderful potential for Capital Growth based on the Independent Reports.
Residex forecasts excellent Capital Growth for Armstrong Creek of 8% per annum over the next 5 years and 10% per annum over the next 8 years
According to the City of Greater Geelong the Armstrong Creek growth area is the largest continuous growth area in Victoria consisting of 2,500 hectares of develop-able land and is one of the largest growth fronts in the country.
- Armstrong Creek growth area will provide housing for between 55,000 to 65,000 people.
- Provide approximately 22,000 residential homes.
- Provide 22,000 jobs with a focus on high technology jobs and developing synergies with Deakin University.
$100m Fast Rail planned offering a short 30 minute commute to Melbourne
Geelong is well serviced by both Bus and Rail with regular and improved services in and around Geelong and the peninsula or between Geelong and Melbourne and Geelong and neighboring emerging towns such as Werribee. With proposed fast rail to Melbourne via Sunshine, linking Sunshine’s employment opportunities back to Geelong residents.
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