"Geelong, How You've Grown!"

Since the doors at PGA were opened four years ago, we’ve been confident in the success that the City of Greater Geelong has to offer, and we still are. Back then in 2015, the Victorian property market was declining, yet we were determined to point people in the right direction. With thorough, in-depth and consistent research on the City of Greater Geelong and its future, we identified a huge capacity for potential. Today, our clients are reaping the benefits.

The following is what the National Institute of Property Research has to say about Greater Geelong-

‘With the fastest growing population in regional Victoria, the City of Greater Geelong is expected to swell to 288,000 residents by 2031. Last years growth was just over 2% which is 25% faster than the previous year’s growth. Its demographic profile continues to shift and diversify as culturally and linguistically diverse communities grow. Geelong’s education and training facilities are amongst the best in Australia. Catering for local and overseas student markets, there are over 220 schools in Geelong, including elite private school Geelong Grammar, and 40 tertiary and further education institutions, including Deakin University and The Gordon Institute of TAFE. Geelong has evolved from a manufacturing base to a strong and expanding ‘new economy’ city with a much broader range of industries and employment opportunities than ever before. New residents are attracted to the region due to employment growth across services industries as well as the lifestyle and affordable housing options.’

The value of infrastructure, population growth, employment, schools, universities and hospitals is a given when looking at investment opportunities, yet the Director of PGA, Michael Mancuso, chooses to dig deeper. He believes it is vital to thoroughly consider the lifestyle that can be experienced in any given area, “The place needs to have a buzz about it”, he says. Located just 55 minutes from Melbourne, Geelong combines some of the best elements of city living with those of a stunning coastal lifestyle. Along with swift access to the ocean, the City of Greater Geelong boasts beautiful wineries, restaurants, bars and cafes.

What does the future look like for Greater Geelong? Growth is not expected to be as drastic as it has been over the past three years, although we should still be seeing an annual 6% to 7% gross yield on property. The biggest news for Geelong is that the high-speed rail network to Melbourne’s CBD has been approved and is expected to take passengers from A to B in just 32 minutes. That’s nearly half the current commute time for travellers. If we can get from Geelong to Melbourne in the same time we can get from St. Kilda to the CBD in peak-hour traffic, there is no doubt of the influence this will have on population increase in Greater Geelong. 

With quality housing, comprehensive health and education services, a vibrant culture, and soon to be a high-speed rail network on the way, Geelong has all key growth factors to ensure a sustainable future and will continue to flourish.