Geelong Property Growth Forecast 2026: Why Highton, Belmont and Torquay are Leading the Next Cycle
Summary:
- Geelong is entering a phase of steady property growth backed by strong population, jobs and infrastructure
- Highton, Belmont, Geelong West and Torquay each offer distinct lifestyle and capital growth opportunities
- A Loan Market Geelong City broker can provide advice and secure pre-approval to help you capitalise on this market window with confidence.
Geelong’s property market is entering a new phase of steady, sustainable growth. After a period of softening through 2023 and early 2024, conditions stabilised in mid-2025, and the city is now showing signs of renewed momentum.
For many buyers, the appeal is clear. Geelong offers a mix of value, lifestyle and economic resilience that is becoming increasingly difficult to find closer to Melbourne. House prices remain comparatively accessible, rental demand is strong, and the region’s transformation into a major employment and education hub continues to draw both owner-occupiers and investors.
Part 1: Macro Drivers Fueling Long-Term Growth
The forecast for Geelong property growth is built on solid, fundamental drivers.
Population and Economy
Geelong is forecast to be among Australia's fastest-growing regional centres over the coming decade. The city’s population is expected to reach around 400,000 by 2046, up from nearly 300,000 in 2025, according to the City of Geelong. This expansion is driven by both natural increase and significant net migration, particularly from Melbourne residents seeking better value and lifestyle balance.
Employment growth has been concentrated in stable, long-term sectors. The health and social assistance sector continues to expand, driven by Barwon Health's ongoing development and an ageing population requiring more services.
Education remains a key employer, with Deakin University's Waterfront and Waurn Ponds campuses collectively employing thousands and attracting a steady stream of domestic and international students. Government administration and professional services have also grown as Geelong solidifies its position as Victoria's second city.
Infrastructure
Major infrastructure investments are reshaping Geelong's connectivity and liveability, with direct implications for property values.
The Geelong Fast Rail project represents the most significant transport upgrade in the region's history. When completed, travel times to Melbourne will be reduced to approximately 50 minutes, making Geelong a viable option for Melbourne commuters.
The Nyaal Banyul Geelong Convention and Event Centre and associated waterfront redevelopment signal the city's ambitions beyond its regional roots. This facility will attract business tourism, conferences and events that will bring economic activity and enhance Geelong's profile as a destination city.
Additional upgrades to the University Hospital Geelong precinct will enhance long-term employment and improve liveability for surrounding suburbs.
Market Sentiment
Buyer confidence improved throughout 2025, with open-home attendance picking up and investors returning after several quieter years. Many locals and Melbourne-based buyers now perceive the market to have passed its floor, supported by stable interest rates and tightening rental vacancy rates. According to SQM Research, Geelong’s vacancy rate is around 1.4%, with individual suburbs dropping to as low as 0.5%.
Strong enquiry levels are coming from upgraders, young families and investors looking for reliable capital growth without paying inner-Melbourne premiums. This shift in sentiment is filtering into sales activity, particularly in well-established suburbs.
For young families looking to capitalise on this window of opportunity, it is a good idea to read our complete guide to the $10,000 grant, stamp duty exemptions and federal schemes available to Geelong first home buyers.
Part 2: Suburb Growth Breakdown
The strength of the Geelong market is its diversity, offering everything from affordable family homes to premium coastal retreats. Let’s look at the data of some key suburbs according to PropTrack:
Highton – Prestige, schools and long-term stability
Highton remains one of Geelong’s standout performers and continues to demonstrate a steady Highton house price trend. It offers a combination of elevated Barwon River views, access to leading schools and a strong family demographic that supports price stability.
- Median house price: $895,000
- Median unit price: $521,000
- Year-on-year growth trend (houses): 2.3%
- Year-on-year growth trend (units): 0.8%
- Key investment data: Units showing strong median price stability and solid rental yields at 4.2%.
The suburb attracts quality tenants – often professionals, medical staff from nearby Barwon Health or families in transition – who value the area's amenities and school access. Highton’s limited development potential (much of the area is already established) constrains supply, while its enduring appeal to upgrading families ensures consistent demand.
Geelong West – Lifestyle and renovation potential
Geelong West continues to be one of the region’s most tightly held lifestyle suburbs, supported by strong buyer interest and a healthy Geelong West median price trajectory. Pakington Street’s café strip, boutique shops and access to the CBD make it a popular choice for buyers looking for walkability and strong community appeal.
- Median house price: $842,500
- Median unit price: $410,000
- Year-on-year growth trend (houses): -3.2%
- Year-on-year growth trend (units): -13.2%
- Key investment data: Although down year-on-year, unit values have trended up over the last six months and offer very strong rental returns at 4.5% gross rental yield.
The suburb's appeal to young professionals, couples and downsizers creates diverse tenant demand. The area's ongoing changes suggest further appreciation potential. As Pakington Street continues to attract quality hospitality and retail operators, and as more heritage homes undergo renovation, Geelong West's reputation as one of the city's desirable inner suburbs strengthens.
For buyers with renovation skills or an eye for undervalued character properties, Geelong West offers both immediate lifestyle appeal and capital growth potential.
Belmont – Balanced value with family appeal
Belmont offers a more accessible price point compared with Highton, while still providing excellent access to schools, local shops and the Ring Road. This combination attracts a broad buyer base, from first home buyers to downsizers and Belmont’s capital growth performance continues to draw long-term buyers.
- Median house price: $693,500
- Median unit price: $535,000
- Year-on-year growth trend (houses): 0.1%
- Year-on-year growth trend (units): 1.1%
- Key investment data: The suburb offers relative affordability while maintaining solid rental returns for both houses and units at 3.6% and 4.3% respectively.
The suburb's demographic profile – predominantly owner-occupiers with long tenure – provides market stability. Belmont also attracts Melbourne commuters who want better value without moving too far from the city.
For many families, this stability is closely tied to the area's reputation for security. It is a good idea to read our guide to the safest suburbs in Geelong, which compares Highton, Belmont, and Torquay to help you find a low-risk property.
While Belmont may not deliver the highest percentage returns, its lower entry price point and consistent demand make it an attractive option for buyers prioritising security and livability over speculative gains.
Torquay – coastal lifestyle and premium migration
Although technically part of the Surf Coast Shire rather than Greater Geelong, Torquay is one of the region’s premium coastal markets and a major beneficiary of the ongoing shift towards flexible work. Many Melbourne buyers continue to look for a sea-change lifestyle while maintaining hybrid roles in the city. Torquay’s location, just south of Geelong, offers this chance.
- Median house price: $1,185,000
- Median unit price: $846,500
- Year-on-year growth trend (houses): 1.2%
- Year-on-year growth trend (units): 13.6%
- Key investment data: Strong demand for large family homes keeps house prices relatively stable.
Limited available land, strict planning controls and consistent demand from both owner-occupiers and investors create supply constraints that support ongoing appreciation.
Geelong (CBD fringe) – Urban convenience and strong rental demand
Inner-Geelong remains one of the strongest rental markets in the region. Demand is supported by Deakin University’s waterfront campus and Barwon Health’s major employment cluster, keeping rental yields competitive.
- Median house price: $873,750
- Median unit price: $630,000
- Year-on-year growth trend (houses): -6.3%
- Year-on-year growth trend (units): 2.0%
- Key investment data: Unit yields around 4.5% driven by tight supply.
Tight inner-city supply, combined with consistent tenant demand, ensures low vacancy rates and reliable rental income. For investors prioritising cash flow over capital growth, Geelong's CBD fringe units represent compelling opportunities.
Part 3: Strategic Advice for Buyers
The current market window offers opportunities for both owner-occupiers and investors, particularly at entry-level price points. Properties in established suburbs, particularly those priced below $750,000, are experiencing the fastest sales activity. This sub-$750,000 segment offers genuine affordability for first home buyers and investors while still providing access to quality suburbs with proven growth records.
For a deeper look at specific returns and market entry strategies across the region, it is a good idea to read our analysis of Geelong investment property, which breaks down yield, long-term growth, and strategic opportunities in Highton, Belmont, and Torquay.
Here are some strategic considerations:
- Look for quality established suburbs: Areas like Geelong West offer character homes with renovation potential, while Highton and Belmont provide stability and long-term growth fundamentals.
- Consider rental performance: Suburbs with strong employment anchors, such as central Geelong, offer dependable rental yields.
- Focus on long-term fundamentals: Lifestyle appeal, transport access, school zones and limited land supply remain the strongest indicators of sustainable growth.
- Secure finance early: With competition increasing, having pre-approval in place allows buyers to move quickly when the right property becomes available.
Securing your Position in Geelong’s Property Market
Geelong is entering a fresh phase of growth, supported by solid economic trends and renewed buyer confidence. Suburbs like Highton, Belmont, Geelong West and Torquay are well placed to lead the next stage of the cycle, each offering its own mix of affordability, lifestyle and long-term growth potential.
For buyers ready to make a move, knowing your borrowing capacity and securing pre-approval early can help you act decisively when the right property appears. Whether you are entering the market, upgrading or investing, tailored guidance can simplify your choices and give you more confidence in negotiations.
A Loan Market Geelong City broker can compare lenders, break down loan structures and help you understand how each option aligns with your plans. The team can also support the documentation and approval process, making it easier to move quickly in a market where well-priced homes are attracting more buyer interest.
Thinking about buying or investing in Geelong and want to understand your borrowing options? A Loan Market Geelong City broker can guide you through your choices and help you find a loan suited to your needs.
FAQs
Is now a good time to buy property in Geelong?
Geelong is showing renewed momentum after recent price corrections, with buyer activity rising and stock levels tightening. Entry points remain accessible before the expected 2026 upswing, with Geelong West and CBD fringe units offering strong rental yields and Highton providing steady long-term capital growth.
Which suburbs are predicted to be the strongest performers in Geelong?
While no one can predict the future, long-term performance is driven by key fundamentals. Established suburbs with strong family appeal, limited supply and essential amenities – such as Highton and Belmont – are expected to see capital growth cycle, alongside high-demand lifestyle markets like Geelong West and Torquay.
How does Geelong's property market compare to Melbourne?
Geelong usually lags Melbourne’s cycle by six to twelve months, offering more affordable homes, stronger rental yields and better lifestyle options, though with slightly lower percentage capital growth.