Whittington has had a very poor year for property investment returns compared to the rest of VIC, giving investors a capital gain of 0.36% to date .
Whittington,3219 has offered an average of 0.36% return per annum in house price rises to property investors over the last three years.
At number 386th of VIC’s most discounted properties, Whittington is in the TOP 40% of the state/territory when listing in order of most discounted to least.
On average over the past year, suburb has had 4.83 sales per month, which equates to 58 per year.
Renters in Suburb are facing rents around $3510 per annum or $292.5 every week.
Whittington has had a very poor year for property investment returns compared to the rest of VIC, giving investors a capital gain of -5.11% to date .
When looking at the potential capital gains offered to property investors over the last 3 years, Whittington comes in at number 328th in VIC.
State is the 6th most discounted Australian state or territory in this month’s figures with an average Vendor Discount of -5.07% offered to property buyers. Sellers in Whittington itself are offering an average vendor discount of -4.20% to real estate investors.
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.