At number 2756th in the list of Australian suburbs ordered by increase in median house value over the last year, Whittington, 3219 is in the BOTTOM 40% with a property value increase of 0.36% 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 559th in VIC.
When looking to buy, or assessing what properties are really achieving at sale, it's essential for property investors to take into account what discounts are being offered in Whittington, 3219. Typically our figures indicate that -5.04% is being offered, which puts this VIC suburb at 2523th most discounted overall in Australia.
At number 1804 in a list of fastest selling suburbs, Whittington is just in the top half of suburbs in Australia with an average of days on market 80.33 for properties listed there.
Whittington, 3219 ranked 370th in VIC when comparing growth in median property values or capital gain over the last 12 months. Whittington is one of 2098 in our list for VIC
If we look at median property appreciation over just the last three months, Whittington has given property investors a paper return of -2.59%. This puts Suburb as 291 on a list of fastest fasting appreciating suburbs in VIC
State is the 6th most discounted Australian state or territory in this month’s figures with an average Vendor Discount of -5.14% offered to property buyers. Sellers in Whittington itself are offering an average vendor discount of -4.53% to real estate investors.
A $240 per week rent on the median house gives suburb investors a gross yield of circa 7.36%, without taking into account capital value appreciation, which has been averaging out at 0.16%.
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.