Are you on the hunt for cheap houses for sale in Geelong? With the current median house price in Greater Geelong sitting at around $780,000, finding an affordable home can seem like an impossible task.
But fear not, as we’ve compiled a list of budget-friendly properties in the area, all of which are priced under $500,000. Geelong is a thriving city located on the stunning Bellarine Peninsula, with a laid-back coastal lifestyle and plenty of amenities to offer.
From its beautiful beaches and parks to its friendly community and bustling market scene, there are many benefits to living in Geelong. You’re also just an hour from Melbourne and not succumbing to the high costs of living in Melbourne. So if you’re looking for an affordable home in a sought-after location, read on for our list of the best cheap houses for sale in Geelong.
And if some of these get snagged before you can get to them, remember that more will come onto the market in these cheap Geelong suburbs. So, set up your match profile on Soho and we’ll send them to you as soon as they do!
So, since you’re done looking for cheap rentals in Geelong and are ready to buy, let’s dive in!
Cheap houses for sale in Geelong region under $400,000
$372,000 – 107 300 Clifton Ave, Leopold, VIC, 3224, Australia
Size: 2 bedroom, 1 bathroom
Suburb median house price: $710,000
Looking for a slice of heaven with stunning views over farmland to the bay? Now is the perfect time to secure your own piece of paradise with this modern two-bedroom home, both with BIRs. The large bathroom boasts a walk-in shower servicing both bedrooms, while the home offers plenty of storage space.
The dining area flows out to a deck, perfect for outside entertaining. Complete with an undercover car park, this home is the perfect package.
This home is also available under an 80:20 shared equity arrangement for the price above, but can also be bought fully for $465,000.
Pelican Shores Estate is a beautiful and peaceful lifestyle village for the over 50’s, situated directly on the waterfront at Leopold. Just a few minutes from shops, 10 minutes from Geelong CBD and 1 hour from the heart of Melbourne, Pelican Shores Estate provides something for everyone.
Enjoy village facilities such as a swimming pool, spa, boating club, outdoor chess set, bowling green, village garden, and a community centre that serves as the hub for many social activities and gatherings. Friendly and helpful staff are on call 24/7, and you’ll also have peace of mind knowing that access to the village is via a security gate. Pelican Shores Estate is a fantastic community to call home.
Explore more houses for sale in Leopold VIC.
$380,000-$415,000 – 1 Bellbird Avenue, Norlane, VIC, 3214, Australia
Size: 3 bedroom, 1 bathroom
Suburb median house price: $470,000
This solid three-bedroom home with a single carport is located in the heart of Norlane, offering an abundance of convenient options. The home boasts charming accents of yesteryear and catches lovely sunlight. The spacious lounge room includes a gas heater, and the home comprises of three generous bedrooms, a tidy central bathroom, and an original kitchen.
With hidden timber floors, terracotta roof tiles, and concrete stumps, the home is a solid investment that needs a bit of TLC. The sprawling backyard is fully fenced, perfect for kids and pets, with a greenhouse and tool shed. Conveniently located close to public transport, Waterworld, Stead Park sportsgrounds, schools, healthcare facilities, and Corio Village, the home offers the perfect location for any family.
Potential future development is possible subject to council approval, making this property a fantastic investment opportunity. Don’t miss your chance to secure this solid home in Norlane.
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$399,000-$429,000 – 20 Florida Avenue, Corio, VIC, 3214, Australia
Size: 3 bedroom, 1 bathroom
Suburb median house price: $515,000
Located in one of the best suburbs in Geelong, this property presents an outstanding opportunity for those seeking cheap houses for sale in Geelong. The home comprises three bedrooms, two of which feature built-in robes, and a bathroom with a toilet and shower. The heart of the residence is a lovely timber kitchen with ample cabinetry, including an upright gas stove and oven.
The large rear yard boasts a pergola and shed, with secure parking provided by a carport and lock-up double garage. With ample space, there’s also potential for further development (STCA), adding further value to your investment property.
Conveniently located near the Geelong ring road access, schools, public transport, and the shopping centre, this home is perfectly positioned for those looking to buy a cheap house in Geelong.
Explore more houses for sale in Norlane VIC.
Cheap houses for sale in Geelong region under $500,000
$419,000 – 21 Robin Avenue, Norlane, VIC, 3214, Australia
Size: 3 bedroom, 1 bathroom
Suburb median house price: $470,000
Experience blissful living at this charming home nestled on a generous corner block, fenced in for privacy. Located just steps away from parks and shopping, with larger options like the Corio Village shopping centre and Waterworld Leisure Centre just a quick trip away.
Inside, you’ll find three good-sized bedrooms, two with built-in robes, and the third bedroom lending itself to a second living area that opens out to the terrace. The open-concept renovated kitchen, dining, and living areas feature extensive benchtops and gleaming ivory-coloured cabinetry, making daily living a breeze.
A delightful addition to this charming abode is the mudroom, which elevates the home’s functionality and helps prevent dirt or debris from infiltrating your space. Avid gardeners will adore the greenhouse, while the aviary adds an extra element of nature to your backyard. The large block offers a separate garage and plenty of additional space for all your toys.
For savvy investors, the opportunity to subdivide the corner site presents a wealth creation potential.
Explore more houses for sale in Norlane VIC.
$420,000-$440,000 – 11 Rose Avenue, Norlane, VIC, 3214, Australia
Size: 3 bedroom, 1 bathroom
Suburb median house price: $470,000
The Geelong house for sale is perfect for first home buyers, investors, or those looking to downsize.
Inside, you’ll find three generous bedrooms, a living space at the entrance, and an open-plan kitchen with ample cupboard and bench space, overlooking the open meals area with plenty of natural light. A central bathroom and spacious workspace/room at the back complete the package.
The property features massive front and back garden space, perfect for entertaining guests or relaxing with the family. Plus, it’s conveniently located just a few steps away from the Rose Avenue shopping strip, providing easy access to public transport, shops, and Corio Village. The Princes Highway for Melbourne commuters is also just a short distance away.
Explore more houses for sale in Norlane VIC.
$499,000 – 21/54 Percy Street, Newtown, VIC, 3220, Australia
Size: 2 bedroom, 1 bathroom
Suburb median house price: $1,210,000
This stunning chic townhouse is architecturally designed and perfectly located in the heart of blue-chip Newtown—it’s also a total steal at more than half of the suburb median price!
Located on the doorstep of cosmopolitan Pakington St, this property is a short stroll away from cafes, restaurants, bars, and boutique shops.
The modern townhouse features two bedrooms, a gorgeous central bathroom, and a well-appointed kitchen / open plan living space with a large adjoining balcony perfect for entertaining. The home enjoys plenty of natural light from the north and boasts heating and cooling.
This highly sought-after location is perfect for investors, first home buyers, or downsizers looking to purchase in the heart of Newtown. With Geelong College, parks, the CBD, and GMHBA Stadium all within walking distance, this property offers the ultimate Geelong lifestyle.
Explore more houses for sale in Newtown VIC.
Some FAQs on finding cheap houses for sale in Geelong
Are house prices falling in Geelong?
According to the latest data for the December 2022 quarter, the median house price in the City of Greater Geelong was $780,000. This is actually a slight decrease of 1.9% from the previous quarter, but still represents an annual increase of 1.9%.
So while there has been a recent dip in prices, the overall trend is still upwards. It’s important to keep in mind that these numbers are constantly changing, so it’s a good idea to stay informed if you’re considering buying or selling property in the area.
Why is Geelong so expensive?
Several factors contribute to Geelong’s high property prices, including its location as a desirable coastal city, its proximity to Melbourne, and its growing economy and job market.
Ironically, the lower price point is another reason why dwelling values have increased steadily over the years. But land and housing in Geelong will be more affordable than the cheap land in Melbourne you might find.
There is cheap land for sale in Victoria as a state, if you’re willing to live in the regions.
Is Geelong good place to buy?
Geelong is a great place to buy for those seeking a coastal lifestyle with easy access to Melbourne. It offers a thriving economy, quality schools, and plenty of amenities, making it an attractive choice for families and professionals alike.
How much is rent on average in Geelong?
Currently, the average rent in Geelong is $500 for houses and $450 for units. However, rental prices can vary widely depending on location, size, and other factors, so it’s important to research specific properties to get an accurate idea of rental costs.
