Geelong homes snapped up faster as new data defies slowdown

Geelong homes are selling faster than they were 12 months ago, with new analysis highlighting pockets of market resilience. Latest realestate.com.au data shows it currently takes 32 days for a typical house in the Greater Geelong area to snag a buyer. That’s down from 43 days on market at the same time last year. RELATED: Couple with renovation plans snaps up Newtown bungalow Single mums outsmart housing crisis to create home dream Spring hope for house prices after cold winter lull This three-bedroom house at 51 George St, Newtown recently sold for $1.03m after 18 days on market. The trend has bewildered some real estate pundits, but InvestorKit’s latest Australia’s Housing Fundamentals Analysis backs it up, finding days on market dropped 35.9 per cent in Geelong over the past 12 months. It labelled this a sign of improving buyer urgency, though the report’s author warned the long-term trend may not take account of the most recent confidence dip. Bell Post Hill topped the fastest selling list in August, with the typical house snapped up in 15 days, down from 31 at the same time last year Newcomb and Marshall are among other top performing suburbs, falling from more than 30 days on...