Investment property in Whittington has done around average for investors when compared to the country as a whole over the last 12 months, with an increase in the median house price of 2.94%
Comparing Whittington,3219 ‘s 5year and quarterly average capital gain offered to property investors, it performed less well across the longer period
Vendor discounting in Whittington is giving property investors an average Vendor Discount of around -4.83%. This puts suburb at number 378th in VIC when ranking the most discounted suburbs.
With the median price for a house in Whittington being $280000 and the advertised rent reaching $292.5 the gross rental yield for property investors calculates out to be 5.43%
Whittington has had a very poor year for property investment returns compared to the rest of VIC, giving investors a capital gain of -10.73% to date .
While Whittington,3219 ranked number 33th in VIC for increase in median house value (annualised) increase, it is ranked 318th over the last 5 years.
Whittington3219 is located in VIC which offers an average discount of -5.13% to property investors. Whittington itself is showing figures that indicate -4.24% is the average achievable by property buyers investing in the suburb.
Advertised rents are around the $245 mark per week – giving a return of 6.96% based on the median price in Suburb
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.