Suburb Profile Report for Whittington VIC (3219)

Whittington House: Median price $290,000, Annual capital growth 4.01%, Number of sales 51, Weekly median advertised rent $295

Whittington Unit: Median price $215,000, Annual capital growth 3.30%, Number of sales 28, Weekly median advertised rent $250

  • House
  • Unit
Source: CoreLogic RP Data
  • Median price
  • Number of sales

Source: CoreLogic

  • House Report
  • Unit Report
  • Expert Report

Over the last year, property investments in Whittington, 3219 have given investors a capital gain of 11.54%. This compares averagely with the 10.43% for VIC as a whole.

Taking the average capital gain, or increase in median house value, Whittington,3219 has racked up an average of 11.54% over the period. This ranks it number 2204th in the whole country for real estate investors looking at median house price increases.

LACK OF BUYER INTEREST may well be the reason that Whittington is offering property investors an average of -5.53. This rate of discount on properties puts Suburb at number 315th in terms of most discounted suburbs in VIC

Situated 64.46km from the CBD, Whittington is one of Greater Geelong localities in the postcode 3219.

Over the last year, property investments in Whittington, 3219 have given investors a capital gain of 26.84%. This compares very favourably with the 4.79% for VIC as a whole.

Whittington,3219 has offered an average of 26.84% return per annum in house price rises to property investors over the last three years.

Vendor discounting in Whittington is giving property investors an average Vendor Discount of around -4.26%. This puts suburb at number 183th in VIC when ranking the most discounted suburbs.

A $250 per week rent on the median house gives suburb investors a gross yield of circa 6.05%, without taking into account capital value appreciation, which has been averaging out at 3.30%.

YIP MAG Information supplied by:

YIP MAG
June 2016

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The Greater Geelong suburb of Whittington scores highly for growth potential, according to Redwerks research director Jeremy Sheppard.Full summary

The unit market in Whittington on Geelong’s eastern fringe has not been enjoying a strong run in recent times.

With a median unit price of just $200,000, it may look like a prime place to grab a bargain, but investors shouldn’t be sucked in by that affordability.

Over the past 12 months the median price has fallen by 9%, with a drop of 6% over the past five years.

It doesn’t appear that buyers think Whittington is due for a change in circumstances either, with units spending 102 days on the market, on average. Vendors are also offering average discounts of 6%.

While investors in Whittington’s apartment market will be hoping for no further price falls, they are at least seeing strong rental yields of 6% at the moment.

However, the rental market may be in danger of deteriorating, with figures from Real Estate Investar showing its vacancy rate has grown from 0.56% to 1.06% over the past 12 months.

Close
Metrics i HOUSE UNIT
$290,000 $215,000
3.57% 8.86%
11.54% 26.84%
4.01% 3.30%
$295 $250
51 28
5.29% 6.05%
56.08 99.57

Source: CoreLogic

DSR Score for property investment : Good (U), Good (H)
Find a mortgage broker in Whittington VIC
Demographics
Total population 4156
Median household income ($/weekly) 750
Median age of persons 38
Median housing loan repayment ($/monthly) 1252
Average household size 2.4
  • Census Count Percent(%)
    5-14 years 572 13.8
    25-34 years 474 11.4
    35-44 years 558 13.4
    45-54 years 543 13.1
    55-64 years 531 12.8
    Others 1477 35.5
    Age Group
    Census Count Percent(%)
    Not Married 1577 53.6
    Registered Married 1088 37.0
    Defacto Relationship 276 9.4
    Social Marital Status
  • Census Count Percent(%)
    Australia 3275 86.0
    Papua New Guinea 35 0.9
    Philippines 39 1.0
    United Kingdom 183 4.8
    Other 84 2.2
    Others 194 5.1
    Country of Birth
    Census Count Percent(%)
    Buddhism 35 1.0
    Christianity 2378 66.1
    Islam 25 0.7
    Other Religious Groups 21 0.6
    No Religion 1134 31.5
    Others 5 0.1
    Religious Affiliation
  • Census Count Percent(%)
    $300-$399 173 12.1
    $400-$599 245 17.2
    $600-$799 209 14.7
    $800-$999 155 10.9
    $1,000-$1,249 157 11.0
    Others 487 34.2
    Gross Household Income (Weekly)
    Census Count Percent(%)
    Not in the labour force 1374 45.5
    Employed, worked full-time 856 28.4
    Employed, worked part-time 527 17.5
    Unemployed, looking for work 155 5.1
    Employed, away from work 105 3.5
    Person Characteristics
  • Census Count Percent(%)
    Technicians & trades workers 248 16.7
    Community & personal service workers 185 12.5
    Clerical & administrative workers 159 10.7
    Machinery operators & drivers 186 12.5
    Labourers 332 22.4
    Others 374 25.2
    Occupation
    Census Count Percent(%)
    Pre-school 48 5.5
    Infants/Primary 342 39.4
    Secondary 290 33.4
    Technical or Further Educational Institution 81 9.3
    University or other Tertiary Institutions 59 6.8
    Others 47 5.4
    Type of Educational Institution Attending
  • Census Count Percent(%)
    Separate house 3330 87.1
    Flat, unit or apartment 481 12.6
    Semi-detached, row or terrace house, townhouse 13 0.3
    Caravan, cabin, houseboat 0 0.0
    Improvised home, tent, sleepers out 0 0.0
    Others 0 0.0
    Dwelling Structure
    Census Count Percent(%)
    Rented 633 41.3
    Being purchased 461 30.1
    Fully owned 426 27.8
    Other tenure type 11 0.7
    Tenure Type
Census 2011, ABS
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Recent sales & rentals