Current State of the Apartment Housing Market in Geelong, Victoria

Land and Property Management: Advanced Property Valuation

With the COVID-19 pandemic in 2020, gateway cities like Geelong, Newcastle and Wollongong saw soaring house prices as people escaped the dense capital cities (Gabites, 2021).

In fact, Australian capital city growth in 2020 was highly correlated with COVID-19 infection cases in their respective states (Hu, Lee and Zou, 2021).

Which raises the question, will gateway cities continue their growth as desirable alternatives to capital cities? Gateway cities remain a possible solution to ease congestion and population growth of our crowded capitals (Morrison, 2019).

We have identified Geelong, Victoria as a future high- density housing area due to its proximity to Melbourne, transport (airport, highway and train connection) and amenities (waterfront, schools and parks, NBN FTTB technology).

Discuss the current state of the apartment housing market in Geelong, Victoria, identifyingthe drivers of this development growth.

Include any capital market issues (e.g. credit availability and exposure, interest rate expectations, potential tax changes) that you think may impact the market in your discussion.

Assessment of the current market for apartments in Geelong

Current Geelong market, avg price of apartments, vacancy rates, absorption rates

Look at the current drivers for growth in Geelong – population growth, new amenities, interest rates, supply of property coming onto the market, building costs etc.