PCA  I Geelong Market Updates  

Some Geelong market highlights from a recent regionally based Property Council market update:

• Construction costs in Geelong are comparable to Melbourne.
• Rental market demand has been rising steadily since 2020, undersupply of available stock.
• Geelong is projected to reach 500,000 residents by 2050
• Internal migration concentrated in southern suburbs (Charlemont, Grovedale, Armstrong Creek).
• International migration is strongest in central and Northern Geelong.
• The dwelling value to income ratio currently sits at approximately 7x annual wage
• Avalon Airport continues to grow (due to increase in freight, defence, and industrial activity)
• The Geelong Convention Centre is expected to become the leading regional events destination once open mid-year.