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99% of houses in Geelong are reselling for profit


When the headline of a recent news.com.au article says that nearly all of the houses in Geelong are selling for a profit it's worth a longer read.

The article here quotes Core Logic's Pain and Gain Report for the June quarter as showing that 'more than 99 per cent of houses in Geelong are reselling for a profit'.

It appears that the property market is strong and the article also quoted CoreLogic's head of research said 'a major component of this really low proportion of loss making sales came back to the strong rate of capital gains seen in Geelong'.

We're seeing this for our clients also. A Newtown real estate agent was also quoted saying 'Belmont was one of the suburbs that would be the most profitable along with Geelong West and East Geelong'.

The article did point out that if you only purchased a property a few months ago then this wouldn't feel quite right when you took into account all the relevant fees but if you solely looked at the house itself, it would likely fit the current norm.

It's great to see such strength in the property market in Geelong as those of us who have lived here most of our lives know and love it here but it can be scary for those just starting out in the property market.

If you're a first home buyer and would like to get into your first home come and chat to us, create a plan and get there sooner. Here's what first home buyers Fraser and Sophie had to say recently after moving in to their first home.

"Cannot recommend this business enough, especially dealing with Suzie. No question is ever silly, always reliable, friendly, thorough and client focussed. Thanks again for helping us purchase our first home, we can't thank-you enough!"

Call and make an appointment anytime and let's get you into your first (or your next) home.

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