Why the Geelong property market is entering its next chapter

For decades, Melbourne was the assumed destination for Victorians seeking opportunity. Today, that’s changing, with more people looking beyond the capital for more space, better value and a lifestyle that feels both connected and considered.Few places have benefited from that shift more than Geelong.

Now recognised as Australia’s leading regional migration destination, Greater Geelong recorded the highest share of net migration from capital cities in the latest Regional Movers Index¹. With the population forecast to approach 400,000 by 2041², Geelong continues to strengthen its position as one of Victoria’s key growth centres.


Why more buyers are choosing Geelong
Geelong’s appeal comes from a combination of connectivity, lifestyle and long-term value.

Regular rail services place Melbourne within practical reach for commuters and hybrid workers, with journeys from around 60 minutes on selected express services³. Access to Avalon Airport, major road links and continued infrastructure investment further support the city’s growth.

At the same time, Geelong offers the lifestyle qualities many buyers increasingly value, including proximity to the coast, the Bellarine Peninsula and Surf Coast, established schools, Deakin University, parklands and a revitalised waterfront.

The city also offers a balance many buyers are seeking: strong employment opportunities, education and amenity, while still retaining the accessibility often lost in larger capitals. Greater Geelong recorded average annual jobs growth of 4.5% as of 2024⁴.

Demand continues to grow
As more people consider living in Geelong, demand for housing has intensified, particularly in well-connected growth areas where quality supply remains limited.

Affordability remains a major driver. With median house prices around $890,000, Geelong continues to offer a more attainable entry point for first home buyers, young families and value-focused buyers⁵. By comparison, Melbourne’s median dwelling value has remained above $930,000⁶.

At the same time, there is increasing focus on unlocking underutilised land within established urban areas, creating connected communities close to existing transport, services and amenity.

Introducing Somerley
Somerley is Cedar Woods’ new masterplanned community in Corio, located along Plantation Road just 14 minutes from the Geelong CBD.

The 18.6-hectare community will deliver approximately 400 lots designed for first home buyers, growing families, local upgraders and downsizers seeking a more connected lifestyle. Positioned within established Corio, Somerley is close to Corio Village Shopping Centre, Corio Railway Station, schools, employment hubs and everyday services.

Future parklands, wetlands and shared walking paths will enhance liveability, while the Geelong Ring Road and Princes Freeway provide direct access to Geelong, Melbourne and the wider region.

With Corio’s median house prices remaining well-positioned within Greater Geelong, the area continues to attract buyers seeking long-term value and growth potential⁷.

Geelong’s future is being built now
Geelong is no longer defined by its proximity to Melbourne. It has established itself as a destination shaped by opportunity, lifestyle and long-term confidence.

Somerley reflects this next chapter, delivering a thoughtfully planned community within an established part of Geelong, bringing together connectivity, amenity and liveability in a way that responds to how people want to live today.

Sources:

¹ Regional Movers Index (Regional Australia Institute / Commonwealth Bank): https://www.commbank.com.au/articles/newsroom/2025/05/regional-movers-index-geelong.html
² City of Greater Geelong Population Forecast: https://forecast.id.com.au/geelong/
³ V/Line Geelong line timetables and journey information: https://www.vline.com.au/Timetables/Train-coach-timetables
⁴ Geelong employment rates: https://www.geelongaustralia.com.au/geelong/article/item/8d4ad9e1505f93c.aspx
⁵ Geelong median house price reporting: https://www.realestate.com.au/news/geelong-house-prices-surge-past-800000-as-market-closes-in-on-new-growth-phase/
⁶ Melbourne median dwelling value reporting (CoreLogic / market reporting): https://www.realestate.com.au/news/melbourne-property-market/
⁷ Corio suburb market profile: https://www.realestate.com.au/vic/corio-3214/