Western star rising for value buys
March 27, 2012 Leave a comment
Unit sales have been a star performer in the Geelong West market, with the median price climbing 18.7 per cent in 2011, new figures reveal.
RP Data figures for 2011 showed Geelong West topped the table for price growth for unit sales, with Portarlington (18.1%) and Torquay (15.9%) rounding out the top three.
Real estate agents say a mix of first-home buyers, investors and downsizers powered this robust growth.
Taylor First National agent Owen Sharkey said many buyers were simply being priced out of Newtown.
“People are looking to take advantage of the location and great value,” he said.
“We are seeing lots of first-home buyers and investors purchase here as they want to be close to Pakington St and the Geelong CBD but don’t have to pay Newtown prices.” He said these units offer excellent value and can be a real stepping stone on the property ladder.
First National Real Estate Taylor
Source: Geelong Advertiser, 21 Mar 2012
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