PropTrack data reveals Geelong property values falling as rate rises hit investor demand

Key points

• House values in several Geelong suburbs have dropped over the past three months, according to new PropTrack figures. Corio, Norlane, St Albans Park and Whittington had grown 10 to 14 per cent over the past year, but their median house values fell in the latest quarter.
• The decline followed a fourth Reserve Bank interest rate rise this year. Maxwell Collins director Nick Lord said investors and self-managed super funds had been pulling back as borrowing became harder.
• Buyers agent John O’Brien said investors were now focused on rental yields of about 4 per cent.