Market competition in Geelong is heating up, with median price hitting records of $710,000 for houses over the past 10 years. At the same time median price for units sit at $450,000 in Q3 2017. This represents an annual price change of 9.2% and 5.9% respectively. Over the same period of time, house prices in the City of Greater Geelong LGA grew by 11.6% to $472,250 and unit prices grew by 9.5% to $342,000. Geelong property prices are well above the Greater Geelong LGA, with positive capital growth. This suggests real value gain, which is attractive for both home buyers and investors.
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