Suburb spotlight on: Geelong, VIC
Who’s got top market share?
Geelong is becoming more than an affordable alternative to Melbourne, with a vibrant culture and laid back attitude unique to the city. Families and young professionals enjoy all the benefits that come with a city nudging up against a stunning coastline. A new sales office could take advantage of this growth.
Let’s look at the market share in the area. Barry Plant – Geelong has the highest market share at 7.1%, followed by Buxton Newtown at 6.7%. Harcourts North Geelong rounds out the top three with 6.6%.
According to CoreLogic data, the median house price is $720k, with the most popular property being a three-bedroom houses selling for $679k on average. Singles are 61% of the population, indicating a significant opportunity for a profitable rent roll in the area. The average rent per week is $350.
Previously thought of as an alternative to Melbourne, Geelong is becoming a vibrant coastal city in its own right. It could be a lucrative opportunity for a savvy Ray White office. If it’s an area of interest for you, we can help you build a competitive business. Talk to us today