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Adam Colless is an investor who has recently updated his property at 1/28 Brayshay Road, Newcomb to sell. It went on the market this week and has already attracted 10 groups to inspections. Picture: Glenn Ferguson

Middle ring suburbs Newcomb and Herne Hill have joined inner city hot spots among Geelong’s hottest markets for houses.

New data measuring the city’s fastest-selling suburbs show homeowners in these areas are finding a buyer up to twice as quick than before the first COVID-19 lockdown in March.

Houses are moving fastest in Newcomb, where houses sell in a median 18 days, according to realestate.com.au time on market figures over 12 months to September.

That compares to 38 days recorded in March.

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Geelong, Grovedale, Herne Hill, Geelong West and Belmont were the next quickest, selling between 26 and 34 days, as time on market was cut in 17 suburbs.

Homeowner Adam Colless, who spent six weeks updating a Newcomb property ready for sale, got an immediate reaction from buyers this week.

“We gave it a full makeover, fixed it all up inside, all the accessories, new lights, painting, we pulled up the carpet and polished the floorboards,” he said.

“We’ve put in all new turf and fixed up the gardens.”

1/28 Brayshay Road, Newcomb, has been listed with a $439,000 to $469,000 price guide.

Buxton agent Tony Moorfoot launched 1/28 Brayshay Road, Newcomb on Monday and reported that 11 groups had inspected by Wednesday.

“I thought was a lot considering it was mid week,” Mr Colless said.

“That’s pretty good feedback from the outset.”

Also rising are “off-market” sales, where agents sell to their databases before listed publicly.

Barry Plant, Highton agent Kieron Hunter said the low stock for sale during the pandemic meant buyers were keen to act fast.

114 Weller Street, Geelong West, sold for $1.2 million after three days on the market.

“We’re up to one a week for the past six weeks,” he said.

“It’s the highest volume of off-market sales we’ve been doing. We used to do one a month.”

But the data shows properties took longer to sell in markets more reliant on buyers from Melbourne, including Lara and Norlane and expensive suburbs like Newtown and Barwon Heads.

Buxton, Newtown agent Ben Riddle said the pandemic highlighted how big a role Melbourne buyers — many absent due to the stage four lockdown — played in Geelong.

Four days: 41 Itkeston Street, Herne Hill, sold after four days on the market, CoreLogic records show.

“Stock from $500,000 to $600,000 is still finding competition, yet a house between $1 million to $2 million in Newtown is less likely to have that kind of engagement,” he said.

“There’s no question that Geelong interest can fill the cheaper price brackets quite easily, but we’re finding Newtown, Geelong West, East Geelong, especially the top-end stuff, is a lot more reliant on Melbourne interest than we actually thought.”

Fellow Newtown agent Tom Butters said people booking inspections had genuine intentions of buying.

First open: 61 McDougall Street, Geelong West sold for $595,000 after the first open.

“For example, Herne Hill property at the moment, we put them on the market and we have 25 groups who want to get through it straight away and they’re local,” he said.

“In between lockdowns, we would have had 50 to 80 people in a two-week campaign.”

McGrath, Geelong agent David Cortous said some buyers were purchasing sight unseen, but used building inspectors and buyer’s advocates, or families to inspect properties.

“People are buying sight unseen with the right information and the right processes in place,” he said.

1/1 Pitman Street, Newcomb, sold for $431,000 after 10 days on the market.

Geelong building inspector Graeme Boyd, who operates a Jim’s franchise, said business was up compared to last year, and he spent talking with clients starved for information.

“What we’ve discovered in past two years is we’ve got far more Melbourne buyers than we’ve ever had before and they all get building inspections,” he said.

“They’re asking me far more questions than about the condition of the building, it’s more like you’re giving them a general overview of the street, of the houses next door.”

Nine days: 44 Catherine Street, Geelong West, sold for $600,000.

Geelong’s fastest-selling suburbs

The post Geelong’s fastest-selling suburbs reveal buyers demand for property appeared first on realestate.com.au.