Whittington has had a quite poor year for property investment returns compared to the rest of VIC, giving investors a capital gain of 3.91% to date .
Comparing Whittington,3219 ‘s 5year and quarterly average capital gain offered to property investors, it performed less well across the longer period
Our latest figures would indicate that property sellers in Whittington are currently offering property investors an average price cut of -4.87% below the asking price at the moment.
Residents and property investors in Whittington have been waiting around 82.2 days to sell a property.
Whittington is in the bottom 10% 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 -21.08%.
Comparing Whittington,3219 ‘s 5year and quarterly average capital gain offered to property investors, it performed better across the longer period
Vendor discounting in Whittington is giving property investors an average Vendor Discount of around -4.77%. This puts suburb at number 165th in VIC when ranking the most discounted suburbs.
Residents and property investors in Whittington have been waiting around 91.73 days to sell a property.
Using the current median advertised rental of $240 and the average annual increase in value of a median property of 0.30%, 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.