With Geelong’s housing market stabilising and forecasts pointing to rising prices in 2025, buyers seeking affordable options are being urged to act sooner rather than later.
Recent reports show that while home values across the region remained flat in early 2025, economists suggest this signals a turning point. PropTrack data indicates Geelong’s median house price currently sits around $762,000, with steady population growth, infrastructure improvements, and expected interest rate cuts likely to reignite buyer demand and drive prices upward over the coming months.
At the same time, building costs, which surged in previous years, have begun to stabilise. That’s giving buyers greater confidence in budgeting and planning a new build, particularly for fixed-price house and land packages. Combined with improved construction timeframes and a better supply of trades, the current market presents an opportunity to secure value and move in sooner.
Read more: Thinking About Building a New Home in Geelong? Here’s Why Now Could Be the Right Time
First-home buyer activity is already high in the region, and upcoming policy changes from both major parties are expected to further support this group with more accessible pathways to ownership.
With many packages still available under $600K in suburbs like Charlemont, Leopold, Armstrong Creek, Lara, Clearwater, Mt Duneed, and Colac, the window for entering the market at today’s prices may not stay open for long.
Our house and land packages under $600K
Geelong Homes currently offers a range of house and land packages under $600,000, a rare opportunity to enter the market below the regional median price.
Compact Range (designed for smaller blocks, efficient layouts, and low-maintenance living):
- Caraway 129 – A three-bedroom home designed for compact lots, with a walk-in robe and ensuite to the master, and an open plan kitchen and living area.
- Melaluka 156 – Features a kitchen with walk-in pantry for home cooks, plus a study nook near the entrance.
- Harriott 118 – Suited to blocks with just an 8.5m frontage, this home includes a master with ensuite and walk-in robe, two additional bedrooms, and a functional open-plan kitchen and living space.
- Monterey 164 – Fits on a 10.5m block, offering three double bedrooms including a generous master suite, designed for affordability and investor appeal.
- Yarra 119 – Ideal for first-home buyers or investors seeking a compact two-bedroom design with open-plan living, ample light, and a private backyard connection.
Essential Range (larger homes suitable for families, couples, downsizers and investors):
- Bickford 174 – Offers zoned living with the master and lounge at the front, and kids’ bedrooms at the rear, plus a kitchen with walk-in pantry and a central family hub.
- Thornhill 212 – A family-friendly layout with a secluded master suite, three additional double bedrooms, a second living area, and generous kitchen storage.
- Riverside 221 – Designed for entertaining, with dual living areas and an open-plan layout that opens to the backyard. The rear-positioned master includes sliding door access and a large ensuite.
- Minerva 169 – Centred around an open-plan kitchen and living zone, this home offers a walk-in pantry, ample storage, and suits young families and investors.
- Camden 142 – Compact yet functional, with a rear-located kitchen and meals area, a space-saving European laundry, and a master suite with walk-in robe and ensuite.
Browse our full range of house and land packages under $600K here
Why build with us now
As borrowing capacity is expected to improve with further interest rate cuts, and Geelong’s housing supply remains tight, buyer competition is likely to increase throughout the year.
For those looking to secure a new-build home before prices climb, Geelong Homes’ several designs available under $600,000 makes entering the market more accessible – without compromising on quality or process. Rather than starting with land, Geelong Homes helps you first select a floor plan that suits your lifestyle. From there, consultants can assist in finding a block that works with your chosen design, ensuring a better fit and fewer surprises.
Once the right match is found, you’ll receive a clear cost proposal, tailored to your budget and site conditions. The process includes plan finalisation, personalisation with a Style Consultant, and step-by-step support through to construction and handover.
^ While we’ve tried to be as helpful as possible, this blog should not be taken as professional financial advice. It contains general information only, and you should seek out independent, professional advice before making any financial decisions.
