First home buyer guides

Is 2026 a Good Time to Buy in Geelong? A First Home Buyer’s Perspective

By Victoria Whittaker, Buyer’s Advocate · Last reviewed 16 October 2026

Buying in Geelong in 2026 may make sense when your finances are ready and a suitable property is priced fairly against comparable sales. Your budget and expected holding period matter more than relying on a short-term forecast.

“Should I buy now, or wait?”

It is one of the most understandable questions a first home buyer can ask. You want to make a good decision, and nobody wants to feel they bought at the wrong time.

I would start with your circumstances and the property you are considering. A forecast cannot answer those questions for you.

Geelong is not one uniform market

A unit, an older house needing substantial work and a newer family home attract different buyers. The street, condition, price range and location all affect how a property competes.

A citywide median can provide context, but it cannot tell you what one particular home is worth.

Use recent sales to assess value

When a suitable property comes up, compare it with recent sales that share meaningful features.

Look at the accommodation, land, condition, location and sale circumstances. An automated estimate or an asking price alone is not enough to establish a sensible buying range.

Are you financially ready?

Consider the repayments, ongoing ownership costs and what would happen if your circumstances changed.

Allow for rates, insurance, maintenance and owners corporation fees where applicable. Keep enough cash available for the practical costs of moving in and issues that may arise.

Buying because you feel rushed can leave you with a home or financial commitment that does not suit you.

How long do you expect to stay?

Buying and selling both cost money. If you may move again soon, compare those costs with the flexibility of continuing to rent.

If you expect to stay for several years, focus on a property that can support your likely needs during that time. Avoid relying on a particular amount of short-term growth to make the purchase work.

So, should you buy in 2026?

It may be the right time when your finances are ready and you find a suitable property at a price supported by evidence. Waiting can also be sensible if you need to improve your financial position or clarify your plans.