Average price trends
675,000
Feb
749,000
Mar
749,000
Apr
What are the property taxes in Geelong and are there any other ongoing costs I should consider?
In Geelong, Victoria, property taxes include council rates which vary depending on property valuation, and land tax if you own a second property not deemed your primary residence. Additionally, consider water rates, and building and contents insurance. Always assess any maintenance or homeowners association fees for the exact property costs.
What types of upfront costs and fees will I have to pay when purchasing a property in Geelong?
In Geelong, upfront costs typically include stamp duty (varies based on property value, use stampdutycalc.com.au), property inspection fees (around $ 400 AUD), legal fees (approximately $ 1,000 AUD - $ 2,500 AUD), loan application fees (if applicable), and a deposit (usually 10% of the purchase price). It’s essential to budget for these costs when planning your purchase.
How competitive is the Geelong property market?
The property market in the city of Geelong, Victoria, Australia, remains competitive, reflecting its growing appeal. For instance, the median house price in Geelong hit $ 950,000 AUD as of late, illustrating market strength. Additionally, properties like a 3-bedroom house in Norlane recently sold for over $ 670,000 AUD, far exceeding expectations. These examples underscore robust demand and a competitive environment for buyers and investors alike.
