The Luxury Property Market in Geelong, the Bellarine Peninsula, and the Surf Coast: A Director’s Insight

By Josh McDonald, Director of Oslo Property

The luxury property market in Geelong, the Bellarine Peninsula, and the Surf Coast is booming. Over the past decade, these regions have cemented themselves as some of Victoria’s most desirable locations for high-net-worth buyers. As Director of Oslo Property, I’ve had a front-row seat to the rapid evolution of these markets, and the changes we’ve seen are nothing short of extraordinary.

 In this article, I’ll take you through the latest trends, the driving forces behind the surge in demand, the challenges we face, and the incredible opportunities that lie ahead.

Why Geelong, the Bellarine, and the Surf Coast?

The answer is simple: lifestyle. These regions offer an unbeatable combination of natural beauty, convenience, and prestige. Geelong’s urban renewal projects, the Bellarine Peninsulas’ serene waterfronts, and the Surf Coast’s iconic beaches have all captured the imagination of buyers looking for the perfect mix of luxury and lifestyle.

Geelong: Urban Luxury on the Rise

Geelong is no longer just Melbourne’s little sibling; it’s a thriving city in its own right. With the transformation of the Geelong Waterfront and the rise of high-end suburbs like Newtown and Highton, we’re seeing an influx of families and professionals seeking luxury property. Bayfront apartments and architecturally designed residences with stunning views are setting new benchmarks for premium living. Proximity to Melbourne (just an hour’s drive) adds to its appeal for those wanting a metropolitan lifestyle without the city chaos.

The Bellarine Peninsula: A Haven for Coastal Elegance

The Bellarine Peninsula is Victoria’s answer to Hamptons-style living. With its boutique wineries, charming coastal towns, and incredible waterfront properties, it’s no surprise that affluent buyers are flocking to the area. Portarlington, Queenscliff, and Ocean Grove are standout locations, offering everything from sprawling estates to designer beach houses with panoramic views of Port Phillip Bay.

One of the most interesting trends we’re seeing here is the rise of rural luxury. Properties with vineyards, rolling hills, and even agritourism potential are increasingly popular among high-net-worth individuals looking for a private escape.

The Surf Coast: The Pinnacle of Coastal Luxury

When it comes to premium beachside living, the Surf Coast is in a league of its own. Torquay, Anglesea, and Lorne attract buyers seeking exclusivity, privacy, and proximity to the Great Ocean Road. Oceanfront homes with floor-to-ceiling windows, infinity pools, and eco-friendly designs are the epitome of modern luxury.

 Interestingly, sustainability is becoming a key priority for buyers here. Homes that are environmentally friendly, whether through solar energy, water recycling, or off-grid capabilities, are commanding higher prices and greater attention.

What’s Driving the Market?

Several factors are fueling this surge in demand:

Lifestyle Shifts: The COVID-19 pandemic accelerated the desire for space and a better work-life balance. Remote work has made it possible for high-net-worth individuals to relocate while staying connected.

Infrastructure Growth: Projects like the Geelong Fast Rail and upgrades to regional roads have made these areas more accessible than ever.

Limited Supply: There is only so much prime coastal and waterfront property available, and that scarcity drives value.

Challenges in the Luxury Property Market

It’s not all smooth sailing, though. Rising construction costs are putting pressure on developers, and environmental concerns like coastal erosion and rising sea levels pose long-term risks for waterfront properties. We’re also seeing an affordability gap emerge, with skyrocketing prices pushing some locals out of their own communities.

For those of us working in this market, balancing demand with sustainability and local needs is one of our biggest challenges.

The Opportunities Ahead

Despite the challenges, the future of the luxury property market in these regions is bright. Here is where I see the most significant opportunities:

Eco-Luxury: Sustainable homes aren’t just a trend but the future. High-net-worth buyers are increasingly prioritising properties that align with their environmental values.

Build-to-Rent Developments: There is a growing appetite for high-end rental properties, particularly in the Surf Coast and Bellarine Peninsula, where holiday homes and short-term stays are booming.

Bespoke Designs: Unique, architecturally significant homes are more sought after than ever. Buyers want properties that stand out and reflect their personal style.

International Investors: With the return of overseas travel, we’re expecting renewed interest from international buyers who recognise the value and lifestyle these regions offer.

What’s Next?

As someone deeply invested in this market, I’m incredibly optimistic about what’s ahead for Geelong, the Bellarine Peninsula, and the Surf Coast. These areas aren’t just luxury destinations they’re communities with heart, character, and endless potential.

Final Thoughts

At Oslo Property, we’re proud to be part of the journey for so many purchasers and sellers in this unique luxury market. Whether you are looking for your dream home, an investment opportunity, or advice on navigating this dynamic sector, we are here to help.

Geelong, the Bellarine Peninsula, and the Surf Coast aren’t just places to live; they’re places to thrive. And the luxury property market here is only just getting started.