Geelong joins $1m club as median house price jumps 14 per cent

The three-bedroom house at 57 Maud St, Geelong, sold for $1.45m this year. Central Geelong homeowners could have a million reasons to smile as new data reveals the suburb has joined the list of the region’s million-dollar suburbs. New realestate.com.au figures show central Geelong joined Newtown, Manifold Heights and Wandana Heights as the city’s urban suburbs among the list of 19 towns and suburbs where the median house price of at least $1m. The $1m median price data is based on house sales over the 12 months to September, and shows 71 houses were traded in central Geelong, leading to a 14.1 per cent rise in the median house price. RELATED: ‘Finally’: Drumcondra home sells after 366 days Couple beats builder to secure future ‘forever’ home Geelong’s new housing plan just priced buyers out Key to the growth in the median house price for central Geelong is the number of million-dollar properties in neighbourhoods away from the waterfront pocket close to Eastern Beach or Western Beach. While a house just off Eastern Beach at 3 Fitzroy St at $2.6m was the most expensive sale in central Geelong this year, houses in Kilgour St and McKillop St were traded for $1.97m and $2.1m respective...