_Geelong waterfront named one of the world’s hottest for luxury residential real estate
Australia – The Geelong waterfront has been identified as one of the world’s hottest luxury housing markets in Knight Frank’s landmark 20th edition of The Wealth Report, released today.
The precinct, situated in regional Victoria around 75 kilometres southwest of Melbourne, was named as a neighbourhood set to outperform alongside other markets around the globe including Dalefield in New Zealand’s Queenstown, St-Martin-de-Belleville in the French Alps, Lake Como in Italy and the Pacific Palisades in Los Angeles.
The Geelong waterfront sits on the north facing shores of Corio Bay in Geelong.
The pick highlights the region’s growing appeal to high-net-worth buyers and investors seeking lifestyle-led, waterfront locations beyond the capital cities.
Knight Frank’s The Wealth Report 2026 recognises the Geelong waterfront’s unique combination of coastal amenity, proximity to Melbourne and strong infrastructure investment, positioning it as one of Australia’s standout regional markets attracting increasing interest from domestic and international purchasers.
McGrath Estate Agents National Head of Research Michelle Ciesielski said Geelong’s waterfront had emerged as one of the region’s most sought‑after neighbourhoods, with lifestyle a key factor.
“Geelong’s waterfront has evolved into a highly compelling location, offering a combination of accessibility, amenity and long‑term growth,” she said.
“New apartments built over the past five years have lifted the benchmark for property values, with 31% growth in apartment prices during this time and 8.1% of this being recorded in the past year.
“Nearby leisure options include the Surf Coast’s beaches and the Bellarine Peninsula’s wineries and golf courses, as well as marina facilities.
“Significant public and private investment in the area is helping boost cultural and recreational opportunities and improving links to Melbourne and two international airports, while the city retains its relaxed coastal character.
“Buyers include Melbourne lifestyle movers, professionals, downsizing retirees and investors seeking coastal areas with steady long-term prospects.”
The report notes that modern two-bedroom waterfront apartments in Geelong typically start from US$1.5 million, while a four-bedroom detached home close to the bay commands more than US$2 million.
“Luxury residential real estate buyers are paying for expansive views across Corio Bay and a vibrant, walkable foreshore,” said Ms Ciesielski.
Buyer demand for luxury residential property on Geelong’s waterfront is rising
McGrath Projects Geelong Newtown has represented 85% of all luxury waterfront apartment and townhouse projects over the last five years, during which time there has been a palpable increase in buyer demand, said Jim Cross, Principal of McGrath Estate Agent’s Geelong Newton office.
Over this time there has been more than a dozen dwellings transacting in the price range of $3 million to $5.95 million, with prices per square metre ranging from $10,500 with no bay views up to $20,000 for premium penthouses with uninterrupted views of Corio Bay.
One recent sale includes a 4-bedroom penthouse in the freshly completed Stella Maris Rippleside that sold for $4.295 million last year.
“The Geelong waterfront has experienced an amazing transformation with some of the country’s finest property developers choosing to invest and develop a much more sophisticated type of apartment project, which has reshaped lifestyle living in our city,” said Mr Cross.
“We have also experienced a run of sales in the exclusive Geelong waterfront house market, with strong buyer demand leading multiple sales of family dwellings in the $4 million to $5.6 million, including 36 Western Beach Geelong transacting for $4.675 million last year.
“The Geelong waterfront property market has become a highly sought after destination for a broad range of buyers, including local, interstate and international purchasers, looking to secure a dream home in the wonderful lifestyle location.
“The area is attracting sophisticated buyers due to the amazing views over the north facing bay and the relaxed lifestyle on offer. Improved facilities including water sports, Geelong's thriving arts culture, and vibrant restaurant and cafe precincts all come together to create the ultimate lifestyle in a region positioned just a short commute to Victoria's capital city.”
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For further information, please contact:
Vanessa De Groot – Marketing & Communications, Knight Frank
Vanessa.degroot@au.knightfrank.com +61 410 460211
Notes to Editors
Knight Frank LLP is the leading independent global property consultancy. Headquartered in London, the Knight Frank network has 600+ offices across more than 50 territories and more than 20,000 people. The Group advises clients ranging from individual owners and buyers to major developers, investors, and corporate tenants. For further information about the Firm, please visit www.knightfrank.com.