Growing families upscaling in Geelong West, baby boom, good for business, Hodges, Marcus Falconer, strong demand, two bedrooms too small
A BABY increase in Geelong West has given start to an upscaling pattern throughout the suburb.
Rising households in search of bigger digs of their house neighbourhood are driving a giant upsizing market.
Hodges, Geelong West agent Marcus Falconer mentioned the realm had turn out to be magnet for younger households who wished to stay close by as their broods expanded.
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“There’s much more upscaling,” Mr Falconer mentioned.
“It’s these properties the place there are younger couples are rising their households within the space and the 2 or three-bedroom homes are too small.
“Infants are good for enterprise.”
Character homes, whether or not renovated or not, prime the wishlist for patrons in Geelong West.
He mentioned there was additionally demand for single degree new builds, though they had been in scarce provide.
“Basically we’re nonetheless seeing rising demand and that has been primarily pushed by inhabitants adjustments and simply the dearth of high quality properties out there,” Mr Falconer mentioned.
The median home worth in Geelong West continues to climb — up 11.eight per cent previously 12 months to $671,000, in response to CoreLogic.
A handful of renovated character homes have cracked the $1.three million mark in latest occasions.
However the residential worth file went to 39 George St, Geelong West which bought for $2.175 million in March.
A 2273sq m block with a four-bedroom home, tennis court docket and swimming pool was a uncommon discover on this internal ring suburb.
Mr Falconer mentioned Geelong West’s life-style attraction would at all times be a drawcard and the Pakington St retail strip continued to evolve because the demographic shifted.
Supply hyperlink – https://www.information.com.au/finance/real-estate/melbourne-vic/growing-families-keep-geelong-west-property-market-booming/news-story/12b91baaae034ee2d10c846738161524