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Geelong propelling the Melbourne Property Market?

A recent 'Your Investment Property' article published earlier in February is titled 'Geelong propels Melbourne Property Market said that as 'Geelong...has been bucking the downward trend of the capital' and Geelong 'has recorded some of the highest capital growth in percentage terms in Victoria in 2018'.

Herron Todd White's February issue was quoted talking about East Geelong (as I did last week here) when he said 'Geelong's eastern suburbs are expected to experience price drops before stabilising in the latter part of the year' but 'areas located near the city centre will offer good opportunities to those willing to undertake small renovations and updates, with the area showing signs of gentrification'.

The article went on to say that 'the outer suburbs of Belmont, Grovedale and Waurn Ponds....appear to have continued to provide good value. These suburbs boast large allotments that provide future development potential within close proximity to Waurn Ponds Shopping Centre, university and the Waurn Ponds Railway Station' and 'this area is set to attract first home buyers who are taking advantage of stamp-duty concessions and reduced competition so they can finally enter the market'.

There appears to be another trends as buyers prioritise affordability by choosing what this article calls 'cheaper secondary areas (which) remain the key drivers of these locations'. In other words, choosing affordability rather than the top of the market offering opportunities for future growth.