First published 24 Oct 2026, 6:00am
The dog-friendly beach at North Shore overlooks the Spirit of Tasmania’s Corio Bay shipping lanes and Geelong’s CBD.
One of Geelong’s most underrated waterfront suburbs is gaining rare national attention.
North Shore, a small beachside suburb on Corio Bay, is among John McGrath’s regional Victorian markets set for growth in the year ahead, revealed in the annual McGrath Report released on Saturday.
Mr McGrath said the suburb is on the up as it undergoes a quiet transformation.
“The Spirit of Tasmania terminal opened in 2022 and has acted as a catalyst for investment including the beachside Moorpanyal Park foreshore upgrade,” Mr McGrath said.
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“With a median house price of $770,000, buyers can secure a coastal lifestyle at a more accessible price point, with proximity to the port and employment areas, while benefiting from Geelong’s continued growth.”
This makes North Shore a popular choice for first-home buyers and investors, Mr McGrath said.
North Shore is a tightly-held pocket in Geelong’s north with about 190 homes.
The residential enclave is surrounded by heavy industry and port facilities, but its front row of houses opposite Moorpanyal Park offer bay views.
The three-bedroom house at 1/51 The Esplanade, North Shore, is listed for sale with price hopes from $870,000 to $950,000.
McGrath Geelong director David Cortous said what’s remarkable about the suburb is the differential between the price of homes on its waterfront, and any dwelling beyond that.
“It’s one of the best views in Geelong because you’re actually looking at Geelong. It’s a beautiful view.”
The suburb’s top house price is $3.4m for an enormous, contemporary four-bedroom residence on The Esplanade.
Analysis shows the past 10 residential properties to sell on The Esplanade achieved a median price of more than $1.3m, more than $500,000 higher than the median price for the entire suburb.
The four-bedroom house at 33 Seabeach Parade, North Shore, is listed for sale with price hopes from $709,000 to $779,000.
Veteran northern suburbs agent Joe Grgic said the suburb was still a big secret to most buyers, but offered a lifestyle edge over its northern neighbours and much cheaper waterfront homes compared to Drumcondra, Rippleside and central Geelong.
Mr Grgic said the suburb was more peaceful than its more renowned waterfront cousins.
Many of the suburb’s original homes, which were built to house workers at the now shuttered Pivot fertiliser factory, were being renovated by new owners, Mr Grgic said.
“There’s only 190-odd dwellings there and you’re not going to see large scale developments there as there’s an overlay in that area, so you know you’re moving down to somewhere peaceful.
John McGraths said with median house price of $770,000, buyers can secure a coastal lifestyle at a more accessible price point, with proximity to the port and employment areas, while benefiting from Geelong’s continued growth.
“You’re a walk to the bay and you’re getting in at a fraction of the price.”
Mr Grgic said North Shore was one of Geelong’s only dog beaches and a good spot for fishing.
While the Spirit terminal has drawn some buyers keen on a handy position close to the wharf, some families with children preparing to head to nearby Geelong Grammar School also looked closely at homes, Buxton agent Kade Camilleri said.
Mr Camilleri has listed a three-bedroom waterfront residence at 1/51 The Esplanade with price expectations from $870,000 to $950,000.
He’s entertained offers on the home, which has been on the market for about a month, from a variety of hopeful buyers and seen a good response at inspections.
Top sale: The five-bedrooom home on The Esplanade is the suburb’s most expensive, selling for $3.4m in 2022.
Mr McGrath also picked Jan Juc on the Surf Coast, along with Melbourne suburbs Sunshine, Werribee, Reservoir, Boronia and Highett and regional areas Mildura, Kyneton and Bendigo as markets set for growth in the year ahead.
He said the tightly-held coastal market had proven its resilience, recording 8 per cent price growth over the past 12 months to a median house price of $1.35m.
Mr McGrath said its beaches, surf culture and proximity to Torquay continue to attract lifestyle buyers to Jan Juc, which also has median rental price of $750, delivering a healthy 2.9 per cent yield.
“With limited housing supply and strong lifestyle credentials, Jan Juc remains a sought-after Surf Coast address.”
Mr Cortous said along with many popular towns such as Anglesea, Lorne and Barwon Heads, the coastal market was depressed following a pandemic boom with relatively high stock on the market, giving buyers good opportunities.
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