Suburb Profile Report for Whittington VIC (3219)

Whittington House: Median price $274,750, Annual capital growth 4.27%, Number of sales 42, Weekly median advertised rent $285

Whittington Unit: Median price $174,000, Annual capital growth 0.59%, Number of sales 33, Weekly median advertised rent $240

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

Source: CoreLogic

  • House Report
  • Unit Report
  • Expert Report

Property investors who have had real estate in Whittington, 3219 should be relatively unhappy with this VIC suburb’s performance compared to the rest of the country. Over the last year it has seen median house prices decrease in value by -3.60%

Across a shorter period, Whittington, 3219 has seen a median price increase of 5.67% over the last quarter.

State is the 6th most discounted Australian state or territory in this month’s figures with an average Vendor Discount of -6.04% offered to property buyers. Sellers in Whittington itself are offering an average vendor discount of -5.25% to real estate investors.

In the last year 42 properties changed hands in Whittington, which puts it as the 457th most active market in VIC when comparing the number of sales per suburb.

Whittington, 3219’s gross rental yield is 5.39%

Whittington has had a very poor year for property investment returns compared to the rest of VIC, giving investors a capital gain of -25.51% to date .

While Whittington,3219 ranked number 80th in VIC for increase in median house value (annualised) increase, it is ranked 340th over the last 5 years.

Whittington, 3219 is offering VIC ‘s 151th most discounted properties when looking at the average discount being offered by vendors. This puts it in the middle of discounts offered by this VIC.

Whittington, 3219’s gross rental yield is 7.17%

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
HOUSE UNIT
$274,750 $174,000
5.67% 2.65%
-3.60% -25.51%
4.27% 0.59%
$285 $240
42 33
5.39% 7.17%
79.59 113.47

Source: CoreLogic

DSR Score for property investment : Good (H), Good (U)
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