Whittington is in the bottom 20% in VIC when comparing median price capital growth over the last year. Whittington gave property investors a dismal capital gain figure when compared to the rest of the state, with -0.80%.
Across a shorter period, Whittington, 3219 has seen a median price increase of 2.11% over the last quarter.
Property buyers and investors in Whittington 3219 should be seeing an average reduction in asking price of around -5.10% . This means that Whittington is holding prices well when compared to other suburbs in VIC.
Often selling an investment property can take time, and in Whittington the average time real estate has been on the market is 78.03 days.
Using the current median advertised rental of $290 and the average annual increase in value of a median property of 4.17%, investors should hope to achieve an overall return of 5.43%
At number 1668th in the list of Australian suburbs ordered by increase in median house value over the last year, Whittington, 3219 is in the BOTTOM 10% with a property value increase of -17.69% recorded in median house prices.
When looking at the potential capital gains offered to property investors over the last 3 years, Whittington comes in at number 357th in VIC.
LACK OF BUYER INTEREST may well be the reason that Whittington is offering property investors an average of -5.12. This rate of discount on properties puts Suburb at number 179th in terms of most discounted suburbs in VIC
Using the current median advertised rental of $240 and the average annual increase in value of a median property of 0.17%, investors should hope to achieve an overall return of 7.15%
The Greater Geelong suburb of Whittington scores highly for growth potential, according to Redwerks research director Jeremy Sheppard.Full summary
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The unit market in Whittington on Geelong’s eastern fringe has not been enjoying a strong run in recent times.Close
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.