Geelong, Surf Coast, Bellarine land sales hit two-year high

LAND sales across Greater Geelong, the Surf Coast and Bellarine Peninsula are surging, hitting their highest levels in more than two years as buyers return to regional growth areas.According to property consultancy Red23, the Geelong region has already notched up about 400 land sales so far in 2025, averaging 65 lots per month. That is well above the subdued volumes recorded during 2023 and signals that confidence is returning to the regional market.

“Sales volumes are now at their strongest in two years, with regional areas like Greater Geelong also showing signs of recovery,” Red23 managing director Terry Portelli said.

“These are early but important indicators that the market is stabilising after a period of subdued demand.”

Geelong now represents about eight percent of all Victorian land sales. While metropolitan Melbourne also recorded a bounce, the sustained lift in Geelong stands out due to its consistency and scale over recent months. Graph data shows a steady recovery trajectory since late 2023.

The median land price in Greater Geelong held steady at $410,000 in June. This puts the region among the more stable price points in the state, despite national market fluctuations. While median prices remained flat month-on-month, they were down 3.07 percent compared to June 2024.

Across the wider region, buyer demand is being driven by lifestyle seekers and locals looking to upsize within established communities. The easing of interest rates and a modest return of first-home buyers have helped turn the tide.

The Westpac–Melbourne Institute Index of Consumer Sentiment rose to 92.6 in June, reflecting increased optimism following an RBA rate cut and slowing inflation.

With affordability, liveability and location all working in Geelong’s favour, Red23 suggests the region’s land market is now firmly back in growth mode.