High-end growth by beach
Connewarre prices soar
Connewarre North Geelong Whittington Newcomb Mt Duneed Norlane Corio St Leonards Portarlington Rippleside $1.2m $486,000 $390,000 $455,000 $557,500 $355,000 $370,000 $560,000 $620,000 $735,000 30.4% 27.9% 24.7% 24.3% 23.9% 23.3% 22.5% 21.1% 20.7% 18.9% he had received on the property was from Melbourne.
“It seems to be the people wanting the train station but still be close to Pakington St in Geelong West,” he said.
He said this renovated threebedroom house with expansive outdoor entertainment area was on the market for $490,000 to $530,000, but a similar property in Geelong West would cost around $650,000-$700,000.
“You have two different areas in North Geelong, you have the area opposite Geelong West that younger buyers see as an extension of Geelong West but at a different price point yet they still have period homes and good-sized blocks,” he said.
“Then there are completely different buyers opposite the golf course and in the golf course.” A GEELONG rural community most buyers had trouble locating in the past has become the region’s hottest property market.
House prices at Connewarre, wedged between Armstrong Creek, Barwon Heads and Breamlea, jumped 30.4 per cent this year to reach $1.2 million, new figures from realestate.com.au show.
Bellarine Property agent Peta Walter said the area had two distinct markets — high-end homes in the estates surrounding the 13th Beach Golf Links near Barwon Heads, and lifestyle properties on farm blocks.
Data shows 35 properties changed hands in 2018, with the highest sale at $3.3 million for a four-bedroom custom-built house on a 2ha Barwon Heads Rd property.
Ms Walter said most of the available land around 13th Beach had been exhausted, driving the market for buyers keen to secure high-end homes near the clubhouse and beach access.
“People are realising that for the generous property you can buy out there you can walk to the beach, you get a lot of open space and you get a bit more for your money than you can in Barwon Heads,” Ms Walter said.
“You realise what an amazing location it is and it’s so close to the beach and it’s really nice for families because there’s quiet streets and big open spaces.”
Barwon Heads’ median house price hit $945,000, the realestate.com.au data shows.
Ms Walter said the acreage market at Connewarre had been phenomenal this year.
“There was probably a long time when you would say Connewarre and people would ask “Where’s that?” but it’s really taken off,” she said.
“That’s driven by the development at Armstrong Creek, the supermarkets and the schools and it gives acreage property with accessibility to living.”
Ms Walter said Connewarre was undergoing a demographic shift, with long-term families downsizing and young families embracing the open space and the chance to get a pony or a big yard.
Richardson, Newtown agent Will Richardson said Connewarre was part of a ribbon of communities in a 20-minute radius of Geelong — including Gnarwarre, Barrabool, Moriac and Paraparap — where lifestyle properties were in demand.
But he said buyers weren’t looking at the subdivision potential of the farms, because it could be 20 or 30 years before Geelong’s urban fringe would look beyond Armstrong Creek.
“It’s the location that’s between Torquay and Barwon Heads and close to Geelong,” he said.