Over the last year, property investments in Whittington, 3219 have given investors a capital gain of -8.77%. This compares very badly with the 8.23% for VIC as a whole.
Whittington,3219 has offered an average of -8.77% return per annum in house price rises to property investors over the last three years.
At number 314th of VIC’s most discounted properties, Whittington is in the middle of the state/territory when listing in order of most discounted to least.
Situated 64.40km from the CBD, Whittington is one of Greater Geelong localities in the postcode 3219.
Property investors who have had real estate in Whittington, 3219 should be 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 -28.83%
Whittington,3219 was ranked 1591 in Australia by increase in median property value over the quarter.
Our latest figures would indicate that property sellers in Whittington are currently offering property investors an average price cut of -6.06% below the asking price at the moment.
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.