Why the Geelong Property Market Is One to Watch in 2026

If you’ve been keeping an eye on the property market, Geelong is a name that continues to stand out. As we move into 2026, the Geelong property market is clearly on the rise, supported by strong population growth, job creation, and major infrastructure investment.

Geelong has also become the number one regional location in Australia for people migrating from other cities, particularly from Melbourne. This ongoing demand is putting upward pressure on both property prices and rents.

Best of all, Geelong still offers more affordable options compared to Melbourne, especially in suburbs like Herne Hill, Bell Park, and Grovedale, which recorded strong capital growth in 2025 and remain well positioned moving forward.

Geelong: A Leading Regional City

Geelong has firmly established itself as one of Australia’s most desirable regional cities. As Victoria’s second-largest city, it continues to attract young professionals, families, and downsizers seeking a better lifestyle without sacrificing employment opportunities.

Being the top regional destination for internal migration in Australia, Geelong benefits from consistent buyer and tenant demand, which is a key driver of long-term property growth.

A Strong and Diverse Local Economy

Geelong’s economy continues to expand, supporting a healthy property market. Thousands of new jobs have been created across multiple industries, including:

• Health care and social assistance

• Education and research

• Government and public services

• Manufacturing, logistics, and professional services

With unemployment remaining low, more residents have the financial stability to rent or purchase homes, helping sustain demand across the housing market.

Population Growth Driving Housing Demand

Geelong’s population is growing rapidly and is forecast to exceed 300,000 residents by 2030. This growth requires a significant increase in housing supply, yet new development is struggling to keep pace.

As a result:

• Rental vacancy rates remain very low

• Rents continue to rise

• Property prices are supported by ongoing demand

Even with this growth, Geelong property remains considerably more affordable than Melbourne, which continues to draw new buyers into the market.

Infrastructure Investment Supporting Long-Term Growth

Geelong is undergoing significant transformation through major infrastructure and urban renewal projects, including:

• The Nyaal Banyul Convention and Exhibition Centre, scheduled to open in 2026

• Waterfront revitalisation and new hospitality developments

• Improved road and transport infrastructure

• The relocation of the Spirit of Tasmania ferry terminal

• Ongoing government investment and decentralisation of jobs

• A proposed $1 billion luxury hotel and mixed-use development on the Geelong waterfront, backed by Costa Property Group and Gurner, which would significantly elevate Geelong’s national and international profile, drive tourism, and create substantial employment opportunities if approved

Large-scale private investment of this nature highlights growing confidence in Geelong’s long-term future and further strengthens the case for property growth.

Affordable Suburbs Delivering Strong Growth

Some of Geelong’s best-performing areas have been its more affordable suburbs. Locations such as:

• Herne Hill

• Bell Park

• Grovedale

experienced strong capital growth in 2025, driven by affordability, access to employment hubs, schools, and transport, and rising buyer demand.

These suburbs continue to attract first-home buyers and investors seeking long-term growth at accessible price points.

Why Geelong Makes Sense in 2026

Geelong offers a compelling combination of:

• Australia’s strongest regional migration growth

• A diversified and expanding economy

• Significant infrastructure and private investment

• Lifestyle appeal

• Property prices well below Melbourne

With demand continuing to rise and supply remaining tight, Geelong is well positioned for continued growth in both property values and rental returns throughout 2026 and beyond. For buyers, the key is not just choosing the right suburb, but securing the right property within the right pocket to align with long-term goals.

If you have any questions about this article or are currently searching for a house or investment property in Geelong, feel free to get in touch with Ben Threlfall, Buyer’s Advocate at O’Connell Buyer’s Advocacy.

Phone: 0425 403 711

Email: ben@oconnellba.com.au

Website: www.oconnellba.com.au