Suburb spotlight on: Geelong
Who’s got top market share?
Geelong is in the middle of a property boom that is set to last as the city invests in infrastructure over the next few years. Add to that the appeal of a waterside location combined with affordable housing prices, and you have a prime spot for a successful real estate business.
Let’s look at the market share in the area. The top three are pretty closely held; Buxton Newtown at 6.9%, Ray White Highton at 6.5%, and Barry Plant Geelong rounds out the top three with 6.3%.
Geelong has seen the market grow 7% over the last 10 years, making it a high demand market. Of the 104 houses sold this year, CoreLogic Data tells us that 55 were three bedroom houses with a median price of $625,000. It’s an investors market, with an average rent of $400 per week for a three bedroom housing.
A growing city with a profitable mix of location and price make Geelong a lucrative choice for a profitable Ray White business. If it’s an area of interest for you, we can help you build a competitive business. Talk to us today.