Young buyers are once again feeling the impact of rising investor interest in real estate.

Hopeful first-time buyers were relegated to sidelines as investment buyers contested a three-bedroom house in Geelong’s southern suburb of Grovedale.

Hayeswinckle Highton agent Sophie Spowart said two bidders were competing over the phone, including a buyers advocate who purchased the property at 26 Beltana St for an investor client for $615,000.

“We had good numbers through,” she said.

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The three-bedroom house at 26 Beltana St, Grovedale, sold for $615,000 at auction after strong interest from interstate investors.

“The home did need a bit of work, hence why a lot of people capped out at that $600,000 mark.”

Ms Spowart said 75 per cent of the interest for the property were investors.

Bidding opened at $450,000, with auctioneer Michelle Winckle declaring the property was on the market when the bidding passed the $550,000 reserve. The sale ended $65,000 above expectations.

“I think out of the four (bidders) there was three investors.

“We’re starting to see investors come back into the market, especially interstate ones,” Ms Spowart said.

“I think the location was very popular because it’s situated quite closely to Geelong and the Surf Coast.

Hayeswinckle real estate agent Sophie Spowart.

The three-bedroom house at 26 Beltana St, Grovedale, sold for $615,000 at auction after strong interest from interstate investors.

“The block size was a big deal too and it was structurally solid. I just needed some cosmetic work. It was quite a good buy.”

Ms Spowart said the property could with some cosmetic work be quickly turned around and added to the rental market.

Victoria, and Melbourne and Geelong in particular, are back on investors’ radar with affordability enticing buyers from Sydney, Brisbane and even Perth where house prices are relatively higher.

Hotspotting’s Top 10 National Best Buys report names Greater Geelong among the nation’s 10 best areas where director Terry Ryder said buyers should purchase now.

While many long-term investors have been selling up in Victoria, cities such as Geelong have been swamped with interstate buyers looking in particular for houses with land to purchase.

The three-bedroom house at 26 Beltana St, Grovedale, sold for $615,000 at auction after strong interest from interstate investors.

In some areas, targeted properties are selling off-market or within days of being listed for sale.

The rising sentiment shows that most investors believe the time is right to buy in Melbourne, with 41 per cent of respondents to a Property Investment Professionals of Australia saying to was the best time to buy in Melbourne, more than any other city or region.

The Geelong region is gaining momentum, with home prices rising across the month, quarter and year to a $773,000 median house price in the regional city of nearly 300,000, according to PropTrack’s latest Home Price Index.

PropTrack median price data shows Grovedale is a mid-range suburb in the region with a median house price of $670,000.

The median house price climbed just .8 per cent in 12 months on the back of 239 sales.

But the median asking rent of $520 a week offers a 4.04 per cent indicative yield to investors.

Originally Published : Peter Farago | realestate.com.au | 24 September 2025

https://www.realestate.com.au/news/young-purchasers-sidelined-as-key-buyer-group-returns-to-market

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