Geelong’s property market has emerged from the coronavirus lockdown with values rising a healthy 4.2 per cent this year, new data shows.
The region’s median house value climbed to $626,000 in 12 months to November, including a 1.2 per cent rise in the past month, the latest CoreLogic Home Value Index, released Tuesday, shows.
It’s the first report after Melbourne’s coronavirus lockdown was lifted, allowing more buyers into the region to buy property.
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Victoria also announced a 25 per cent stamp duty discount on purchases of existing properties in last week’s budget, which is expected to fuel demand.
Values rose in all capital cities, although Melbourne’s annual change remained -.9 per cent, the index showed.
Buxton agent Ben Riddle said the release of Melbourne buyers after months in lockdown, coupled with