Newcomb Geelong

What are you thoughts about Newcomb suburb? Potential for growth? It's close to the water and to Geelong, so should be an advantage, I hope...
We've been sniffing around the East Geelong area, but have recently started to consider Newcomb. Seeing a bit of reno activity, and some of the "riff-raff" seem to be getting shifted out.

As close, or closer, to the CBD than some other "prestige" suburbs (think Highton, Wandana Heights and the new estates around there).

One thing letting it down is the added distance in getting to Melbourne - have to go through town.