Geelong’s southern suburbs of Armstrong Creek and Charlemont have been identified as rising markets.

Fuelled by increasing demand for affordable lifestyle homes, property prices are tipped to rise in both suburbs, according to the Hotspotting Autumn Price Predictor Index, as reported by the Geelong Advertiser.

Located side-by-side, the young suburbs share the 3217 postcode and are shining lights in Victoria’s highest growth corridor, according to Barry Plant Highton agent Josh Carter.

“Their proximity to the Surf Coast and the Geelong CBD, which are less than 10 minutes away, holds some weight,” he said.

“And they are centrally located to all amenities.”

Established about 10 years ago, Armstrong Creek is popular with young families and also investors, who are attracted to the capital growth potential and high rental returns.

“Families are flocking to the area for its affordable homes, variety of schools, retail outlets, community facilities and transport options,” Mr Carter said.

“And the infrastructure here continues to strengthen with projects in the pipeline.”

Properties in the area range from smaller entry-level houses and townhouses on 392sq m-512sq m blocks priced from $550,000, to luxury million-dollar showpieces on larger allotments.

The median house price in Armstrong Creek rose 0.4 per cent in the past 12 months to $700,000, according to realestate.com.au.

A total of 251 houses sold in the past 12 months, and the 88 houses that were for sale in the past month attracted 1739 highly motivated buyers.

Homes were selling quickly and at the top of their price guides, Mr Carter said.

A feature-packed four-bedroom house at 41 Fawkner Crescent, sold at the top end of its price range for $795,000, after only three weeks on the market.

Multiple parties showed interest in the custom-designed and owner-built home, which was snapped up by a Melbourne buyer.

“They were attracted to its design and location near walking tracks and playgrounds.”

The property is within easy reach of childcare centres, schools and the developing Armstrong Creek Town Centre and Warralily Village shops.

At 19 Jacana Way, a three-bedroom house changed hands for $665,000, after attracting strong interest from local and out-of-area investors, first-home buyers, upsizers and downsizers.

The buyer from central Geelong was attracted to the modern style of the home, which was offered in pristine condition, Mr Carter said.

Six properties in Armstrong Creek are currently for sale through the Highton office, including a new listing at 10-12 Reeve Avenue, which is catching the eye of growing families.

“This home attracted buyer numbers in the double digits at the first open, and you don’t often get that,” Mr Carter said.

“A drawcard is the large 627sq m corner block, which is unique in the current market.”

With a price guide of $795,000-$855,000, the near new four-bedroom house is just a minute's walk from a creek and walking tracks, and is near St Catherine of Siena Primary School and Busy Bees early learning centre.

A smaller and younger version of Armstrong Creek, the blossoming suburb of Charlemont was established about four years ago, according to Mr Carter.

As it is located next to Armstrong Creek, it shares the same amenities with its neighbour, including Armstrong Creek Town Centre and Warralily Village.

“Properties in Charlemont are value-packed and more affordable than those in Armstrong Creek, due to the suburb’s age,” Mr Carter said.

In the past 12 months, the suburb had a median house price of $635,000, according to realestate.com.au. A total of 80 houses were sold during that period, and the 35 houses that were available for sale in the past month drew interest from 694 buyers.

A haven for first-home buyers and investors, it offers an ideal lifestyle for a growing family, and it is brilliantly located near the Surf Coast Highway, the Great Ocean Road and the Geelong CBD.

Recent sales in the suburb have achieved top-end results, including $712,000 for a modern four-bedroom house at 15 Baratheon Road.

After only a week of hitting the market, the property sold to a family relocating from regional Victoria.

And a three-bedroom house at 34 Baelish Drive, was snapped up by a first-home buyer from Melbourne for $600,000.

“This property has stunning park frontage and offers the buyer minimal maintenance at maximum value,” Mr Carter said.

The property next door at 32 Baelish Drive is currently for sale with a $535,000-$575,000 price range.

The modern three-bedroom house is conveniently located, with the stunning Surf Coast in one direction, and schools, shops as well access to Geelong's CBD in the other, Mr Carter said.

“We’ve had a consistent number of buyers through this property that appeals to the entry level section of the market,” he added.